Lead Provider Program
New Heights Finance is a specialist financing solutions company. We have a variety of products and various sources of specialised funding, risk solutions, and systems improvement providers which can assist your clients to resolve their funding requirements, reduce risk and improve their systems and earn you commission or fees for facilitating this.
How do I Join ?
Essentially we need to sign an agreement to work together. The agreement which we will send to you, outlines how we will both conduct our relationship. We want to be in a position to pass on all our experience and lenders details to you, with the comfort of knowing that we are protected by your loyalty to us.
What do I need to do ?
You have a network of contacts and so we would like you to source new business from existing contacts and new potential clients, submit the deal details to us and we process the application.
We also require that you assist with the gathering of all supporting documentation and arrange for your client to sign a Mandate and Fee arrangement. We will provide this to you. Without suitable documentation we will not be able to secure approvals.
What does New Heights Finance do ?
We are a financing solutions, finance, risk solutions and systems improvement administrative processing centre. We have solutions for a variety of clients’ needs. (See our prospectus below). We receive the leads from you, assess the client’s needs, suggest a solution, secure the client’s signed mandate to proceed, call for supporting documents, compile a motivation and then submit to various credit providers or investment and risk companies or systems improvement specialists for approval.
What happens next ?
Once an approval is secured, the work of compiling legal documents and agreements starts by the our service provider tehn deals direct with the client. Once the deal is done we are paid the fee and we then pay your portion to you..
If a client is declined, what can we do ?
We have alternatives for each each product offered BUT not all clients are a good credit risk nor can they afford to service the solution offered and so there will be applications that are declined. We work on commissions only, so we are very aggressive about getting approvals. We will do our best to get an approval but cannot guarantee this for all applicants.
Can all transactions be directed through me ?
Yes, of course, but we would prefer that you focus your time finding more deals and we spend time on processing the deals. Processing of deals is very time consuming and so if you are “bogged down” with administrative matters, deal flow stops and then no one benefits.
What is the success rate ?
This is a tough question to answer. It is dependent on :
- The quality of client sourced – clients with limited own resources are harder to assist than those with own capital / security / assets.
- The type of solution needed – some types of finance are easier to secure than others
- The quality of supporting documentation supplied – if supporting docs are missing then it is tough to get an approval.
- Market conditions – higher interest rates and economic conditions affect the approval rates.
- Regulations – new legislation can negatively affect what rates of approval are achievable.
The key is to find those credit worthy clients. Tough, but what you look for you will find !
How do I know what is going on with my lead ?
We will communicate directly with you as changes to the application take place.
How do I communicate with you ?
By email is the best. We then know exactly who has provided the lead and who provided it first. Sometimes clients go to different sources and they land up with us. By loading the lead onto our system, we can see who has made the first contact.
Due to the volume of enquiries we receive, the preferable way of communicating with us is by email. We then also have a record of what is needed and what we have done to assist. Telephone calls are not recorded and so important communication and steps in the process can get missed out if not committed to email.
What to do next ?
Sign-up. It costs nothing to sign up. All you need is your time, expertise, passion and energy and you could be earning commissions soon.
What is your commission structure?
“once-off “ at “ 20 % up to 50 % ‘once-off ‘ of the fee negotiated
20 % up to 50 % of the fee negotiated with and agreed to by the client and/or the credit provider is paid to you. In the past 4 years in 75% of deals where funding has been secured, NHF has paid the lead provider 50 % of the fee secured from the client.
If, in some cases expenses are incurred by NHF in securing the relevant finance, these expenses are deducted off the commission received and then the split and apportionment of the commission will be made.
Percentages and values to be paid to lead providers are subject to change without notice due to credit providers’ conditions.
There is a continual and massive demand for financing solutions, risk and finance products and systems improvements. This will never stop. In good times people and businesses look for money, ways to ensure against risk and improve their systems in bad times it is the same. Your success rate is dependent on finding low risk clients, ideally with something to contribute to the loan applied for, sufficient security and the ability to pay the loan back and in the case or investment products, that they have residual income to invest and with risk products that they want to deal with you. In the case of system improvement products, most of them will cost the company less than they are currently paying and so there are immediate savings.