The Most Common Private Label Questions & AnswersFundAbility was created by business finance brokers for business finance brokers.
It takes into account most of the pain points that every business finance broker experiences and it solves them.
How do I pre-qualify my potential prospects?
The FundAbility system is designed to prequalify your prospects for you, and slot them into one of 20 different funding programs for you to fund them, thereby lessening your workload.
Where do I find lenders?
The FundAbility system has a database of over 4,000 business lenders readily available to you to fund all of your deals. The database is searchable by the funding programs that each lender services. .
How do I eliminate the middleman from my commissions?
FundAbility does not get in between you the private label, your prospects, and the lenders you use. Your relationship with them is yours alone. You are free to charge your prospects what you want and you are free to negotiate your own commission from the lenders. No part of your commissions are due to FundAbility and there are no per pre-qualification charges assessed to you or your prospects.
How can I help my prospects build business credit?
As a private label, you can give away your amazing business finance and credit educational system to every business you come in contact with. Your system contains the best available business credit building system that you do not have to pay license fees on or charge your prospects thousands to get into. Instead you receive an excellent recurring revenue share for what your prospects do while inside the system.
How can I make money even from those I do not fund?
In order to become bankable every business needs to have at least ten trade-lines that are reporting their payment histories to all four of the business credit reporting agencies. Business owners do not want to buy business credit, business credit reports, or business credit monitoring. They want to get funded. You know that the only financing available to them will be really expensive unless they become bankable and they cannot become bankable until they have strong business credit profiles. Having strong business credit profiles requires at least 10 reporting trade-lines. The solution? Get them 10 reporting trade-lines. Your private label does just that and does so utilizing services that are essential to everyday business operations. They signed up for a Success Plan package for $497 a month (or two other Plans) and they get reporting trade-lines for services that all businesses must have. As a private label, you receive $175 a month for each $497 a month trade-line plan that is sold, and you receive the $175 a month as long as they keep paying for it; 2 years, 5 years, 10 years of complete recurring revenue.
How do I recruit and retain good agents?
As a business finance broker, the hardest part of recruiting quality agents is the long lead time between building a pipeline of prospects that might fund, to actually funding a deal and getting paid. As a private label, you have solved this. Your agents can solicit every business they connect with to get into your system to either prequalify for financing today, or to make themselves bankable tomorrow. When they get businesses into your system, those businesses will be educated how to prequalify for all the funding programs, and what exactly they must do to become bankable. Each prospect is shown that they must have at least 10 reporting trade-lines and how to go about getting them. The easiest way to get 10 reporting tradelines is to sign up for a $297, $497, or $797 a month package plan. They receive the essential business services that their business would have paid for anyway and they get the added benefit of all those services being reporting business credit trade-lines. You, as a private label, receive $175 a month on every $497 a month Success Plan package they sign up for. If you share half of that with your new agent, that agent can very quickly create a recurring revenue stream that will more than sustain themselves while they are building their funding pipelines. So imagine that one agent signs up 20 businesses a month for the $497 a month plan. The first month the agent generates $1,750 a month for themselves and by the fifth month they have built an $8,750 a month recurring income, or $105,000 a year from only their first 100 businesses that they have helped to become bankable.
Where do I find high quality prospects?
Each private label comes with a territory that contains approximately 60,000 existing small business with around 6,000 new businesses filed each year. We did a random study of 10,000 businesses to find out how many currently had 10 or more reporting business credit trade-lines. We checked with Experian Business, Dun & Bradstreet, CreditSafe, and Equifax Business. There were 3. Not 30, not 300, not 3000, but 3. This tells you that there are vastly more businesses needing your help to become bankable than there are businesses who are ready to be financed right now. Alone as a business finance broker you can help maybe 1 or 2 percent of the businesses you connect with. But as a private label you can help them all. You can help all 60,000 small businesses in your private label territory and you can help all the new business filed each year there. As a private label, you are provided data to businesses in your territory to teach them how to become bankable.
How do I get my funded clients to come back?
As a private label, your system is designed to keep your prospects and clients engaged, to keep them logging back in to check on their status, to respond to alerts, to see new funding programs they have pre qualified for, and to add or replace reporting trade-lines. Your system contains the approval guidelines of over 3,000 vendor lines of credit that are used as demographic targets for your prospects and clients for products and services most often used in their industries. It was hard work for you getting and funding that client. Retaining them so that you can fund them a second, third, or fourth time is a lot easier and a lot less work. Your private label system can keep your clients engaged and help retain them for you.
Many more business finance broker pain points?
If you have been a business finance broker for any time at all then you know all the pain points. You know all about; commissions that take forever to fund, deals that never close, deals that fall out at the eleventh hour, clients who lied to you, clients who stiffed you on commissions, going through a thousand prospects to get a handful to fund, and many more. The Fundability private label system is an amazing tool for educating prospects, building business credit, prequalifying clients, and finding lenders, but that is not where we make our money. We make your private label recurring revenue by helping each prospect you contact understand that they must have 10 reporting business credit trade-lines if they ever want to become bankable, and then providing those trade-lines to them for business essential services that their business is either already paying for or that their business will need. Then we pay you, as a private label, every month that they make their payments on those essential business services for as long as they keep making them.
How do I generate a massive amount of recurring revenue?
You become a private label and you earn $175 a month from a single $497 a month business Success Tradeline Package Plan. You recruit five referral agents to sell the Success Plan Packages for you from your private label territory of 60,000 plus businesses. You know that only 3 out of every 10,000 businesses are going to already be bankable and already have 10 reporting tradelines. You bring in your first 100 businesses who have purchased a Success Plan Package and you will be earning $17,500 a month in recurring revenue. Then you bring in your first 1000 businesses and you are earning recurring revenue of $175,000 per month after month after month. And with 60,000 businesses in your territory that all need to be bankable, you have helped only less than 2 percent to get there leaving you 98 percent left to help.
For an example of what your private label website will look and operate like, please visit Road2Financing.com