Global One Lending
Encyclopedia
Global One Lending is a Sacramento
-based residential mortgage broker
, licensed in the state of California
, founded by Vietnamese-American entrepreneurs Robert Do and Quinn Dang in April, 2003.
Global One Lending is also the name of an Oklahoma
-based residential mortgage broker. There is no relationship between these two companies. This article is about the California company.
(MLM) business model
. New loan agents
are recruited by existing agents. As is typical of MLM-based businesses, all agents earn a commission
(of 36% or more of the gross profits) on loans completed, and a smaller commission for loans completed by agents they've recruited.
There are several different ranks within the Global One hierarchy. Beneath the two founders are a group of managers, who in turn have their own group of supervisors, who are generally responsible for managing the new recruits directly. Agents achieve higher ranks based on the number of loans closed and the number of new recruits.
Global One president Robert Do founded Global One Lending as an extension of his successful small local real estate broker
age. Co-founder and CEO Quinn Dang,a financial planner, already successful with other multi-level marketing ventures, orchestrated the business model, through his superb leadership skills, he directed and overseen the day-to-day operations of the business growth and expansion gameplan in various states.
The business model and structure of Global One Lending bears striking similarities to a rip-off World Lending Group, which has a large presence in the Sacramento area. Indeed, some of the initial managers and many more employees were recruited directly from World Lending Group's ranks. The company grew very fast - starting with the two partners and grew over 6,500 agents within the first two years. The company is well respected by many major banks and private lending institutions.
Sacramento, California
Sacramento is the capital city of the U.S. state of California and the county seat of Sacramento County. It is located at the confluence of the Sacramento River and the American River in the northern portion of California's expansive Central Valley. With a population of 466,488 at the 2010 census,...
-based residential mortgage broker
Mortgage broker
A mortgage broker acts as an intermediary whose brokers mortgage loans on behalf of individuals or businesses.Traditionally, banks and other lending institutions have sold their own products. However as markets for mortgages have become more competitive, the role of the mortgage broker has become...
, licensed in the state of California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, founded by Vietnamese-American entrepreneurs Robert Do and Quinn Dang in April, 2003.
Global One Lending is also the name of an Oklahoma
Oklahoma
Oklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
-based residential mortgage broker. There is no relationship between these two companies. This article is about the California company.
Corporate structure
Global One Lending follows a multi-level marketingMulti-level marketing
Multi-level marketing is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit, creating a downline of distributors and a hierarchy of multiple levels of compensation...
(MLM) business model
Business model
A business model describes the rationale of how an organization creates, delivers, and captures value...
. New loan agents
Agent (economics)
In economics, an agent is an actor and decision maker in a model. Typically, every agent makes decisions by solving a well or ill defined optimization/choice problem. The term agent can also be seen as equivalent to player in game theory....
are recruited by existing agents. As is typical of MLM-based businesses, all agents earn a commission
Commission (remuneration)
The payment of commission as remuneration for services rendered or products sold is a common way to reward sales people. Payments often will be calculated on the basis of a percentage of the goods sold...
(of 36% or more of the gross profits) on loans completed, and a smaller commission for loans completed by agents they've recruited.
There are several different ranks within the Global One hierarchy. Beneath the two founders are a group of managers, who in turn have their own group of supervisors, who are generally responsible for managing the new recruits directly. Agents achieve higher ranks based on the number of loans closed and the number of new recruits.
Global One president Robert Do founded Global One Lending as an extension of his successful small local real estate broker
Real estate broker
A real estate broker, real estate agent or realtor is a party who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy...
age. Co-founder and CEO Quinn Dang,a financial planner, already successful with other multi-level marketing ventures, orchestrated the business model, through his superb leadership skills, he directed and overseen the day-to-day operations of the business growth and expansion gameplan in various states.
The business model and structure of Global One Lending bears striking similarities to a rip-off World Lending Group, which has a large presence in the Sacramento area. Indeed, some of the initial managers and many more employees were recruited directly from World Lending Group's ranks. The company grew very fast - starting with the two partners and grew over 6,500 agents within the first two years. The company is well respected by many major banks and private lending institutions.