I've spent 10 years in freight brokerage. Cold calling, closing, building a book, managing a team, and even opening and running my own brokerage that now pays for itself. The whole thing. I've got time and I want something new so I've been looking at other industries where my skill set translates and MCA keeps coming up.
I get the basics. Advance against future receivables, factor rate, ISO gets a commission. Cool. What I don't get is everything else.
How do you actually get set up with funders? Is there a standard process or do you just cold outreach them until someone responds?
What does year one actually look like financially for someone who knows how to sell but doesn't know the industry yet?
Where are you getting leads? I'll cold call all day I just need to know who I'm calling and where the list comes from.
Is there any training that isn't some dude selling a $997 course?
What's the stuff that'll get me in trouble that I wouldn't know to ask about?
And long term is there a version of this where you build a small team under you and run it like a brokerage? That's ultimately what I want.
Not looking for "is this a good idea" responses. Already decided. Just want to know how it actually works from people doing it.