Hey guys, this is Erik Johnson, I have a huge announcement if you are in the MCA industry, or if you want to be a business loan broker, this is something that has never been done before. And I could barely sleep last night, because our company announced something that hasn’t been done in the industry before and it is going to open up a demographic that is 10 times bigger than what we already have now.
Better than MCA ISO Opportunity – Huge Announcement
So just a little bit about me. I have been a MCA broker for about two years. I have been with one company, but I have looked around at other companies, and I have joined them.
I have looked at the similarities and what they do and when they pay and how much they pay. I am still happy with my primary company. One of the reasons is they pay two days after a funding goes through.
You can get 3% and 9% on the funding amount. So if you secure a $100,000 business loan, you could get $3000 to $9,000 depending on your commission rate.
MCA ISO Commissions on Personally Recruiting Agents
The other powerful thing is if you recruit agents yourself. In the industry, they hardly pay you. They give you maybe 2% to 5% on someone’s production.
Basically, with our company you can get anywhere from 25% all the way up to 100% overrides on your personal agents that you recruit. So if I brought in Bob, and he got funding within his first 30 days I would get 100% of his commissions.
So if Bob secured $100,000 funding, he would get $3,000 for his first one. His second one would be 6% and you would get $6000 – but since it was his first one, he would get $3,000 Commission, and I would get $3,000.
So that would be my commission from my agent. All right. Powerful, super powerful. You only need a few leaders on your team to make serious money, life changing. All right.
Now of course, you know your income is all dependent on your work ethic and this is a little disclaimer, not everyone makes money. But the people that know this business, that is unheard of – that in itself.
MCA Microloan Program
Now, what’s been happening is we have launched a micro loan program where people can get funding from $5000 to $25,000. The same day. Now, there’s not a lot of companies out there, I’m sorry, they can actually get $2000 to $25,000 the same day.
So not a lot of lenders out there have anything below $5000. Some of them don’t even have anything under $10,000. So we opened up something that no one else is really doing and that’s lending down to $2,000. So we do get a lot of micro loans.
Why MCA Loans Are Difficult to Get Approved
But one of the biggest hurdles has been that 80% of the people that apply get disapproved and these are the two reasons why they are getting declined right now.
Number one, they don’t have a business checking account. Number two their credit score is too low. Even though with our micro loans we can fund a client even if they have a 450 FICO or higher, but FICO is getting so unpredictable and it can be manipulated.
So one of the things that we have done away with completely starting around May 1 is no FICO requirement at all. That’s number one. So no Fico. We’re going to be looking at how they pay their bills. Are they paying their mobile, their cell phone on time? Are they making other payments on time for their utility bills?
We’re not going to be looking at their FICO credit score, it’s out the window. So that’s the first improvement that’s going to help maybe 20% to 30% of our clients right there get funding.
Why We Our the Best MCA ISO Opportunity
But here’s the biggest one, why we are the best MCA ISO Opportunity and it’s mind blowing. So instead of having a business checking account to get a loan through us, you don’t have to have that anymore.
You only need a personal checking account and to get this you only have to be a contractor. You can have a 1099 job and you can be a contractor. If you’re an independent contractor anywhere we can fund you.
If you’re an Uber driver and you get a 1099 we can loan you money. You just need to have a personal checking account and a 1099. You don’t need to have FICO anymore. You don’t need a business checking account anymore. Okay. You just need a 1099.
Unlimited MCA Funding
Think of all the contractors out there. The whole entire network marketing industry is all independent contractors who get 1099; all the life insurance agents out there get a 1099. I can go on and on.
But that opens up the 80% that we are getting declined. The other thing is we have lowered our loan amount down to $500. So not only do they only need a 1099 but they can get a microloan of $500 now so they can buy a new laptop or to buy whatever they need for their business.
You know, maybe they need new tires for their car because you’re an Uber driver or you know any kind of driver. You know they need new tires. They don’t have that extra money laying around. They could instantly get a microloan through us with no credit check, no Fico, and as low as $500. This opens up all 80% of the people that we’re getting to clients and the process is now instant.
So when someone applies on your application, they get instant approval or instant decline, it is all automated. Even our loans up to 2 million are completely automated.
No Underwriting – It Is All Automated For You
There is a final underwriting but that’s only for the larger loans. For the micro loans it’s instant and it’s automated. You do not have to do any paperwork. You do not have to do any underwriting. You don’t have to do any faxing to the lenders, to the clients and you get paid the next day.
Alright, so no one else has this. No one else has instant payment or funding and you get a payout in a day or two. All right, that’s super powerful, but what’s the most powerful is we can fund $500 to 2 million and FICO is out the window. We only need a 1099 as a client.
How We Pay ISOs
I’ve never seen anything like this and it’s about to launch in two weeks but I strongly recommend that you join right now. I’ll leave a link under this video/article. It’s completely free. We have plenty of training. We pay you through direct deposit in two days.
So if you get a funding, you will get a statement the following day for how much the funding amount was and then the following day, you will get a direct deposit into your bank.
The first funding you get you’re going to get an email from us from our CEO for your banking details because we have to direct deposit but after that, it’s just going to go into your account.
And the first funding is 3%. Second funding is 6% if you get a loan within 30 days of your first one. And that’s not including the overrides so you get overrides on yourself.
So right now I’m getting like 6.6% and I will be going up to 7.8% very soon. So I get 7.8% on all my fundings. So that’s, you know, if I fund a million dollars, that would be $70,000 Commission absolutely insane money.
So, here’s the caveat. If you’re just salivating right now because it seems like a get-rich-quick opportunity, it’s not. You need to talk to a lot of businesses. You need to get a lot of traffic, you need to get a lot of no’s before you get a yes.
I probably talked to 10 to 20. I probably get 10 to 50 applications before we get one approved. So you have to have thick skin. You have to hustle and you have to do this because you truly want to help people out with funding. Not if you’re doing this just for quick money.
You have to talk to so many businesses it’s not worth it, you’ll burn out. So this is our way. It’s really for the person who is already accustomed to the funding industry, the lending industry. Someone who knows the numbers that can get the numbers are top people are people that can talk to 20 businesses a day and not expect funding to go through for a week or two weeks. Or it’s for the people with the big YouTube channel that get 10s of 1000s of views every day to the application.
So if you’re just relying on a couple ads on Craigslist, it’s not going to be, it’s not going to work. You’re not going to just run five ads and get funding. It is more like 1000 ads. All right, you got to think huge.
But if you’re in the lending industry, you already know this and you are like yeah, I can call 20 businesses a day. I have a client list already. I am a Realtor. I work with business owners every day who need money. Great. We want you and we pay the best. And now with these new requirements for funding. It will blow you away.
We will have agents getting three to five funding approvals a day and it is instant. It is all automated. You just have to share your link to the application. And that’s it. And I’ve always been into automation. That’s how I started in network marketing in 2014. The company emailed my leads for me, they gave me a landing page and they said go get traffic to this landing page.
And I am still doing that today and I am so happy that this company is automated. Because I am not going to be faxing all day long. Or you know, stalking clients and waiting for the lenders to be like yay or nay on this funding, no uploading documents. None of it. It is all done for you. There is nothing else like it. And we pay in two days, some time in it. It sounds like it is going to be instant in a week or two as well in 2023.