Merchants Funding Reviews | Glassdoor

Merchants Funding Reviews

2 reviews

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3.5
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Recommend to a friend
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Gary Levine
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  1. "Decent place to start your career"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Funding Specialist in New York, NY
    Former Employee - Funding Specialist in New York, NY

    Pros

    Great management, good environment, great co workers

    Cons

    Low payouts on the deals, the management can get too political

    Advice to Management

    Dont switch things around so often


  2. "Good company to work for, at least it was before the market crashed"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in Phoenix, AZ
    Former Employee - Loan Officer in Phoenix, AZ
    Recommends

    Pros

    The pay was ok for a loan officer, not bad considering most places start you out on only commission.The management was competent and very supportive of anything for the most part.
    No 401k match by the company, they did however pay for most of my health insurance plan. My manager was great about days off, or anything else that I needed. He was very supportive and a fun person to be around. Upper management was pretty good but for the most part I did not see them as they were located elsewhere. The company was a good place to work when I started

    Cons

    No possibility of advancement
    Very hard to get loans approved
    Rude loan processors (some)
    The pay structure was not very good though. You get paid a very small amount on each loan and you have to cover your salary for the year to start making commission. So if you're lucky you will see commission about 6 months into the year. If the market had been amazing maybe it wouldn't had been so bad but the way I had it it was nearly impossible for me to make commission. Loans were very hard to get approved and when they did it was hard to close them sometimes because of the additional terms they'd want change.

    Advice to Management

    Provide some sort of 401k matching, oversee loan processors better