Premium Merchant Funding is a boiler room operation that conned enough people to make it to the 50th floor of the S&P Global building. There is no positive company culture what so ever. Despite whatever nonsense you will be told during the interview process, they offer no training or assistance for new reps coming in. They only want a body in a chair dialing a phone from 10am-10pm. New reps are in and out like a sweatshop. You will have to make 250 plus cold calls a day to uninterested merchants that get 10-15 calls a day from your fellow reps and want nothing to do with the products you are selling because anyone with the slightest bit of intelligence knows it’s a scam.
You will be fast talked and wooed by the prospect of becoming a millionaire selling MCA on full commission with no base salary. The harsh reality is, it is a game of sharks and minos. There are a few big fish in the office that make good money but the majority of reps are just scrounging for crumbs. If you are "lucky" enough to get a morsel you will get paid out 30% commission of the up sale on the buy rate of the loan, so basically you are grinding for the privilege to let ownership take 70% of your hard work for the opportunity to dial their phone and get a cup of free coffee. Do not expect to make any money in the first 3-4 months of slaving away, you will be told you have to grind and work like a dog to make a livable wage. You will be required to open up your own LLC to get paid, so you are operating as an expendable independent contractor with no rights, benefits or security what so ever. The team leaders are self interested, rude and extremely dishonest. If you have any self respect and self worth I would suggest looking for employment any where else. Premium Merchant Funding is a bucket shop run by scammers with god complexes that shovel garbage out the window of the 50th floor of the S&P Global building.
