Note Brokers Make Money with Monterey’s Consumer Finance Program

You buy real estate contracts but have you worked with retail installment contracts?

Read our exclusive interview to discover how note brokers are working with Monterey’s Consumer Finance Program to make money in the cash flow business.

Note Investor (NI) recently caught up with Gina Frame, Assistant Manager Sales &  Marketing, to fill us in on how Monterey is helping note brokers turn retail contracts into cash.

NI: What transactions will your company consider funding?

Gina Frame: Monterey specializes in purchasing consumer retail installment contracts. These could be contracts where consumers are making tangible purchases such as furniture, pets, jewelry, etc.

While real estate and auto fall outside of our parameters in most cases, we will consider just about anything that a consumer can purchase and finance. Intagible purchases qualify as well. Those could be vacation memberships, golf club memberships, and services such as wealth management, seminar/boot camps, and others.

Many of Monterey’s clients are nationally and internationally known as they may be advertising their products via television, satellite, magazines, radio, and news print. We have found some niche markets over the years where we are still one of very few funding sources will participate, such as the flex pay programs promoted in the direct response and infomercial industry.

NI: How did you get your start in the business?

Monterey Financial started over 20 years ago as a delinquent debt collection company. Our source of business at the time was in collecting delinquent timeshare mortgage and maintenance fee accounts, but we quickly added our loan servicing and consumer finance division which have grown exponentially since our inception.

NI: What unique benefits does your company provide?

We offer complimenting services under one roof including consumer finance, loan servicing, and delinquent debt collections. Many of our clients use all three services so that their receivables funding and management needs are completely satisfied, but note our loan servicing and delinquent debt program have the ability to service and collection notes which either consumer or commercial receivables.

NI: Can you please highlight a business you were able to help recently with your services?

Without disclosing too much, Monterey has recently purchased two large multi-million dollar portfolios from another finance company who needed to free up their capital. In less than 2 months we were able to add $10 million in receivables to our books because we are not only still in business, but well capitalized.

NI: Will your company work with cash flow brokers or consultants and how do you handle the commission structure?

We rely on consultants and brokers to bring new business leads to the table. We have been paying broker commissions since the beginning. We offer commissions to be earned in all three services and those commissions will last for the life of the client. It is not uncommon that brokers will earn commissions for years after one introduction.

NI: What do you consider the best methods for finding leads to make money in the cash flow business?

For consultants we see that the most successful brokers are those who have a strong Internet presence and who have made the rounds the hard way, knocking on doors and making calls.

Unless a broker starts out well connected, getting into regular networking circles, sending updates to everyone they meet, and attending networking events will all forge beneficial relationships as long as brokers follow up. A broker who sits back and waits for the phone to ring is likely to starve for new business.

NI: What advice would you give to new professionals just starting out in the cash flow industry?

Hit the pavement and use your daily hours as means to find local businesses who will meet personally with you and exhausted Internet search engines. When searching for new leads, plug in the types of businesses which are listed with each of your funding sources. Businesses who already use a funding source may not be happy and may be very open to exploring the possibility of getting a new deal, or finding a new company with better services.

Monterey works with many clients who are working with other consumer finance lenders. We could be splitting the business for very high volume clients or we may be reviewing and purchasing contracts which traditional lenders will not consider for approval. Either way, a successful consultant doesn’t immediately hang up the phone when a business says that they are already working with someone.

NI: What is the most common business mistake you see people make?

Trying to force a fit is by far the biggest mistake. Brokers are either not listening to the clients or their funding sources, or both. There are brokers who think that they can force a deal through, but it ends up being a waste of time for all involved.

NI: Given the current economy, have you made any changes in the way you transact business?

Monterey has made several changes in our financing parameters. For clients we have tightened up requirements, especially clients who deliver services over a long period of time. Those are high risk client and Monterey stands to lose a significant amount of money if they go out of business.

NI: Where can people contact you to obtain more information?

Our toll free number is 800.456.2225 and anyone can ask for the sales department. If a broker wants to revisit our program, or if one has never spoken with us, we are happy to provide a comprehensive broker package and answer any questions. Brokers may also contact us through our website,, or by sending an email to

NI: Is there anything else you would like to share with our readers?

If you haven’t read through our broker package in a while, request a new one and take a glance at our rates, industry list, and commission structure. The newest revision includes a jump on our max finance amount (per contract) from $15,000 to $25,000. This will open up new opportunities in many industries!


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