About the role
Business Development Representative | Premium Merchant Funding
"At some point someone told you that you needed more time, more credentials, or someone else's approval to start earning what you are worth. They were wrong."
The Company
Premium Merchant Funding is one of the largest brokerage platforms in the alternative lending industry, headquartered on Wall Street. In the last 12 years we have positioned ourselves as a one stop shop for the capital needs of American business owners when the big banks take too long or say no due to new regulations. We have grown from a single office to an organization of 26 offices across 4 countries with partnerships across hundreds of lenders, allowing us to offer over 30 different products and solutions.
The Role
This is not a customer service role. This is a sales and consulting role. You will build relationships with business owners and gather four key pieces of information: how long they have been in business, what they need the capital for, how much revenue they are generating, and whether they have any existing debt positions.
That information becomes a funding application submitted to the closing team. Right now closers are funding 20 out of every 50 applications submitted. Any representative submitting two applications a day is on pace to earn $120,000 or more in annual commissions.
Every client you fund becomes a page in your own book of business, either as a repeat customer or a referral source. The ability to genuinely connect with people is a superpower in this business. That book belongs to you.
The Commission Structure
This is a 1099 commission-based opportunity. Your earnings are a direct reflection of your activity and nothing else. There is no base salary and no ceiling. Representatives earn between 20 and 40 percent on every deal that funds, with commission tiers that increase as production grows. 80 percent of active Midtown representatives are funding their 1st deal within 35 days on the desk.
Average commission earnings reported by active representatives:
Year 1: $80,000 to $120,000 in commissions Year 2 with a mature book: $250,000 and above Any representative submitting two applications daily is on pace for $120,000 or more in annual commissions
Individual results vary and are entirely dependent on activity level and effort.
Who Thrives Here
Athletes and Veterans: the discipline, the daily routine, and the love of competition fit naturally into the financial sales environment. Many of the top producing representatives and office managers at PMF come from this profile.
Greek Life and Student Leaders: fraternity and sorority members thrive on the culture here and embrace the opportunity to earn graduate level commissions without taking on additional debt. Many of the top desk managers and team managers at PMF come from this profile.
Previous Sales Experience: the art of selling is already there but the commission structure at a previous role may not have reflected the skill. At PMF representatives earn 20 to 40 percent on every funded deal and every client is theirs for the length of their time with the company. No one-time sales. Every client comes back and brings others with them. Many of the top performers and desk managers at PMF come from this profile.