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Business Development Manager

Company Overview

Launched in 2007, 1st Merchant Funding (the “Company”) is a leading provider of merchant cash advance products available to small and medium-sized businesses. The Company utilizes data aggregation and electronic payment receipts in conjunction with proprietary scoring models to evaluate the financial health of small businesses, and provide immediate working capital as quick as two business days. The Company has one of the industry’s largest independent sales networks with over 2,600 independent sales agents marketing its cash advance products. Businesses typically use the Company’s capital to fund expansion, purchase equipment and inventory, increase advertising, manage unexpected expenses and take advantage of seasonal opportunities.  The Company is also the exclusive gatekeeper of, PowerForce®, the industry’s leading disruptive financial technology platform. For more information about the Company, visit www.1stmerchantfunding.com.

The Business Development Manager will be based in Miami and will be required to travel as may be required to achieve the Company’s targeted growth objectives. 

Job Summary

Part of the ISO Channel Sales Team, the Business Development Manager will be directly responsible for identifying, developing, growing and enhancing successful relationships with independent sales organizations (ISOs), as well promoting, marketing and selling the Company’s merchant cash advance and business loan products and achieving targeted growth objectives.     

Responsibilities and Duties

  • Actively build and manage new ISO relationships, onboarding, new and ongoing product training, guideline training, and actively increasing new MCA and business loan volumes
  • Hit the phones hard, network, and leverage outbound marketing efforts and strategies to generate business from new and registered ISOs
  • Actively increase count of active ISO partnerships that fund new business on a consistent active monthly and quarterly basis  
  • Actively increase new MCA and business loan volumes through strong and effective relationship building
  • Manage a portfolio of existing ISOs and/or assigned ISO’s to increase count of active ISO partnerships that fund new business on our products on a consistent monthly basis
  • Negotiate contracts and solutions for ISOs and business owners and actively support submission to funding process
  • Ability to put together and analyze data to effectively strategize with ISOs
  • Follow up with ISOs and merchants regarding their experience, respond to requests, introduce new products, and solve/refer problems and issues
  • Close new business consistently at or above quota level
  • Be an effective partner to grow and maintain ISO relationships
  • Stay ahead of market trends and competition
  • Ensure business development and sales activities for you and your sales team are always up to date in CRM including the latest status, tags, and notes
  • Always acting with the highest levels of honesty, integrity, trustworthiness and professionalism
  • Participate and contribute in product development, digital marketing activities, identifying and reducing friction in processes, and contribute toward streamlining our technology and initiatives 
  • Other duties and responsibilities as may be assigned

Qualifications and Skills

  • 4+ years sales experience through high-volume phone and email communications
  • Experience in merchant cash advance and small business lending and/or banking and financial industries a strong plus
  • Good working knowledge and experience with Salesforce.com or similar CRM tools
  • College degree strongly preferred
  • Track record of paying attention to details, logging details, using details to track actionable items, and follow thru on requirements and priorities
  • Strong and consistent track record of hitting and surpassing funding/sales goals and other relevant ISO relationship metrics
  • Smart prospecting to identify and develop new ISOs on the Company’s funding platform
  • Effective working with underwriting and operations professionals to follow the Company’s processes and guidelines
  • You are self-motivated, driven to work hard in a fast-paced “win focused” environment
  • Excellent organizational/time management skills to ensure follow up with all ISOs and business owners
  • Experience in professional relationship building and negotiation skills
  • Able to effectively communicate in both written and verbally, as well as cross functionally
  • Very strong communications and influence skills
  • Proficient in web based tools for working as well as Microsoft suite products (Word, Excel, etc.) 

Benefits and Perks

  • Medical/dental/vision insurance, 401k matching program, flex spending plan and life insurance
  • Paid/flexible vacations and holidays
  • Lunches every Friday
  • And a whole lot more!

1st Merchant Funding LLC and its affiliates are equal opportunity employers that exercise high ethical standards and are committed to complying with all laws in the jurisdictions where they conduct business.

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