In the Spotlight: Monterey Financial

Over the last 3 decades Monterey Financial Services LLC, a consumer finance company located in Oceanside, CA, has been providing consumer receivables solutions including consumer receivables purchasing, professional loan servicing, and delinquent debt collections.  For as long as Monterey has been in business, its core source for obtaining new clients is its broker referral network.

Monterey’s expansive referral network is a mixture of independent consultants and other funding sources.  While some of the consultants who refer clients to Monterey are heavily divested in the consumer finance market, many of our referral sources are emerged in other types of cash flows.  We require very little, i.e. a simple introduction to the right client will earn the commission.  Monterey offers a broker package that breaks down each of our three services in detail and our dedicate sales team is available for one on one discussions to get you started.  While the detail is there for anyone who would like to dedicate time pursuing opportunities in consumer finance, none of Monterey’s referral sources need to be an “expert” in the consumer finance industry.  Should you elect to dig deep into understanding and marketing to companies who could generate consumer installment contracts, you would have a higher chance of discovering more opportunities.

On the other hand, if you’re busy and happy with focusing on your niche of cash flow solutions, chances are that eventually you will come across an opportunity that fits our mold more appropriately than yours.  In these occurrences, referring those companies to Monterey can be as easy as sending an email or making a quick call to our sales department.


So what exactly is consumer financing?  I’ll break it down for you.  First, don’t mistake Monterey for a direct lender.  We do not give loans to consumers.  Monterey purchases consumer installment receivables from the businesses that generate them.  Typically Monterey’s clients are selling services or products directly to consumers and offering payment terms via a retail installment contract.  Many use our online instant approval system to enter a customer’s credit application and generate a contract.  Monterey then purchases that contract from the client at an agreed upon price and funds are sent directly to the client’s designated bank account. Our purchase rates will vary depending on the credit level, term, APR, and other factors.  Our approval criteria are significantly more flexible than traditional banks and lenders, which means our clients are able to sell more. Many clients use Monterey on a forward basis as contracts are originated, but we also have the ability to purchase these receivables in bulk, from clients that already manage their own in house finance program but are looking to liquidate a portion of their current portfolio.

In addition to purchasing receivables, Monterey offers professional loan servicing.  Processing, managing, and collecting consumer receivables requires additional staffing and overhead costs, which most companies are better off outsourcing.  Monterey carries the burden of the back end management and we ensure our clients that our practices are not only highly successful in minimizing delinquency, but also completely compliant.

Last, Monterey also offers delinquent debt collection services for companies that have delinquent receivables.  Our collection services are offered with no upfront fees and we only receive a contingency percentage of anything that we collect, i.e. our clients do no pay collection fees if we’re unable to recover their funds. Our programs allow our clients to benefit from an in house finance program, which can significantly increase their sales volume, while minimizing the costs and cash restraints of doing so.

How do You Earn Commissions from Monterey?  Monterey pays commissions once a month via ach.  For contracts that we purchase, you receive commission based on the amount of the contract we’re purchasing less any reserve funds held aside for defaults.  For loan servicing and collections, your commissions are paid based on the fees that we earn.  Visit Monterey’s website at and register through our broker page in order to obtain our broker package, which includes the commission breakdown and your independent contractor fee agreement.  You may also reach out to the sales team at 800.456.2225.  Once you connect to a sales rep, you will have a dedicated rep!

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