Metromedia Agent Support Center 

In order to understand funding we must understand the different products inside funding.

MERCHANT CASH ADVANCE- not a loan but a sales agreement where we buy future income of the business at a discounted rate – example- I buy $12,000 of future income over the next 3 months for $10,000 cash today.

FACTORING- is when we buy the INVOICES from the business at discount- but the party invoiced pays us instead of them. This is an ongoing thing so this works when they invoice the same party over and over again

TERM LOAN- When there is a annual percentage rate for interest for lending money- this is what you would know as a loan

MORTGAGE- When a piece of property is held as collateral in exchange of a monthly payment- like when you purchase a home

SECURED ADVANCE A purchase of future income where the money is secured with a lien on the property for the exchange of a longer term, deferred payment options and lower factor rates

EQUIPMENT FINANCING This works like a car loan where the title of the equipment is secured with a lien for us to front the money for the purchase of a piece of equipment. Paid off equipment can also be used to fund a business.

LEASE BUY BACK When we buy a piece of property, give them cash for it but lease the property back to the seller (merchant) for a determined period of time and they buy it back from us at the end of that determined time.

Inhouse Financing- Web Services- when we are the ones fronting the money and billed directly by Metro

• Keep in mind that the chart shall apply regardless if it is Metro, or a funding partner funding the merchant

Now that we understand what each product is, now we can discuss how and when to use them.

No two applicants are the same the programs listed above are the main products and there is over 250 ways they can be written

REGARDLESS which product, this company requires that any product dispensed to a merchant shall be healthy and beneficial to the merchant and the lender/funder.

Please use the general reference chart to help you determine eligibility

Keep in mind the chart is a GUIDELINE – if they have had defaults or credit issues, they could meet the guidelines but still be declined, each case is on its own merit.

The following section touches base on what you should get from your merchant when they apply for any of these fine products. The mindset that a business development broker takes is equivalent to a defense attorney in a court room, you should prepare your client to behave, communicate and be open with you. We all hear Rick say he can do anything but surprises

Please use the chart to determine what you should collect for each funding product.(left)

As a general rule if you are not sure what they will qualify for then get app, ID banks and proof of ownership

You should always stay on the same thread you used when you submitted the deal

The Yellow is required at submission for that product

How to sell money

This can be a turnoff to any merchant but we have several products and services to combat that.

Understand MONEY IS NEVER A ONE CALL CLOSE unless it was an incoming lead for someone looking for money

IF leading in with funding:

First- open the attachments inside your hub and get familiar with who you are calling so you can understand their needs better- likes/dislikes ect

First call:

(this is only an example)

Hello how are you- sound like you mean it.

Well the reason I am calling you today is because we have opened up over 100 new programs to offer funding for businesses in (state where business is located) and the rates are lower and terms better than everything you have seen (lower voice a little) I know calls can be annoying but I am just here to get some info over to you today. I have your email address as (read it back to them make them confirm it)

I need you to do me one favor can you check your phone real quick and give me a reply saying “got it” so I can show that we sent that to you for my bosses? (85% of the time they will do it especially when it sounds like they are just helping someone and this allows us to show as priority when you send another email- you would send the template- getting started)

Ask them, if you had unlimited access to money what is the first thing you would do to help your business? (put that answer somewhere in the notes)

I am also sending you another email called Services, this shows you everything we can do for your business. Are you better reached in the mornings or afternoons? (take the note)

Well, that is all I got today, we just wanted to touch base, and invite you to start your app

(Dispo this customer 10 days out set task)(it should go without saying if they are ready to start now then start them asap)

Call 2 – 10 days later

How are you- (sound interested)

I am following up on that email, did you get a chance to look into it? I did not see the app come in, remember you said you would buy/do (remember that note when they said what they would do if they had $$) I talked to my bosses they looked into the file and think you should apply because I was told they want to look at doing this for you and I will need to set a 15 minute appointment. (suggest a couple times while in scheduler in the submitmydeals site) they will require you to have a no risk application on file to have the meeting with syndicating investors. Then set it.

Call 3- after the app came in

Hello how are you-( remember sound like you mean it)

I think they will make an offer to help you (buy or get whatever it is they are dreaming about) but I will need some things, send them a email requesting it)

Ask them how soon can you get that info over- try to get them to commit or even better – send it while you are on the line

Rebuttals

I am not interested- answer this with “ How could you be interested or not interested yet, we have not presented you with anything to not be interested in, right now we are just seeing if this is even a possibility)

I don’t have time Well, none of us really have time, we all have the same 24 hours in a day, right now I am just getting some info and setting an appointment to see if we can help you, of course I did not expect you to be sitting by the phone ready for my call, that is why I just set the appointments

Rates are too high from you folks As I mentioned, there are 100s of new programs out here now and new ones coming everyday so lets look at this because things change in funding all of the time

I don’t know you all That is why I called so I can get some info over to you because you may not know us but we have been in this space a lot longer than most.

I got burned by a MCA No one likes hearing that, thankfully there are 100s of other programs and I will make a note so you can avoid that from happening, it sounds like that if you would have had something different you would have been in a better place, that is why I am here.