Activity Stream
All times are GMT -4. The time now is 11:21 AM.
-
Older Activity
-
Today, 11:17 AMIf the buy rate is a 1.32 what is the sell rate? How long of a term they want how is the credit on how long in business how are the ending daily balances. As funders we need to know all this for underwriting to come up with an offer that might be better. If is a clean file my sell rate can be around there. Plus my first position renewals work kind of like a credit line which all our merchants love. Scott Platto scott@tmrnow.com tmrnow.com 212-220-9872
-
Today, 10:47 AMWhat does the Revenue look like over the last few months? I'm the underwriter with Boom Funded.
-
Today, 10:40 AMSick solicitation.
-
Today, 09:58 AMThere are open criminal complaints against this guy. Don't worry, he'll be held accountable.
-
Today, 08:50 AMMexican Funding started a thread Home for a Real Estate Deal ! - I have $300k 50 days but NEED 120 days minimum! in Deal BinFinance/Real Estate business that partakes in the Miami high rise investment boom, sometimes this is by gaining investors, other times it's through actual sale of individual units and least relevant is his property management services . Has 4 separate entities all depositing between 200-500K a month. We arranged his HEADWAY LOC and he is looking to expand his abilities to get capital....If terms are reasonable we don't need more than $250K here. I need a minimum of 120 days to get this deal done. Let me know if you can assist.
-
Today, 08:45 AMHe doesn't need a buy rate of 1.32. It sounds like you need a buy rate of 1.32 to make 10-12 points. Syndicate in the deal and give him a 1.35.
-
Today, 07:49 AMwe have a roofer with multiple offers but needs a buy rate of 1.32 as a first position to seal the deal. Anyone interested?
-
Today, 02:50 AMHey Moving Money , we Fund positions 2- 12 , You need to make a monthly revenue of 150,000/ per month and have 5 trucks , and I can get you funded immediately. Please send your request to vantglobalres@gmail.com for commercial loan application
-
Yesterday, 05:06 PMdiditevenfund , well said!
-
Yesterday, 05:03 PMwanted to say thanks
-
Yesterday, 04:57 PMDid his busy season start yet? If so will that show in last month statement and mtd.
-
Yesterday, 04:34 PMVarious Merchant Cash Advance Lead types, and their pros and cons. * * UCCs Merchants who already took a cash advance. Value: Statistics show that almost 50% of merchants who take a cash advance will do so again at least 3 to 5 more times. They're not shell shocked by the high rates, they're comfortable with the sticky points of the process like the bank login and confession of judgment, and they know the benefit of how fast the cash disbursement is. Challenge: Since everyone knows the values of UCCs, where at one point (circa 2006 -2009) they were like shooting fish in the battle, now they are heavily saturated and annoyed, and quick to use every spectrum of the rainbow to guide their language towards you. * Generated Opt-ins: Aged Value: Merchants recently came in through online, sms, email, live transfer, or some other lead generation campaign to inquire about or pursue funding. So, they've shown interest, and they're not hit as hard as UCCs and usually are more receptive to your pitch. Challenge: They're all blind dates. You have an idea that they want you, but you don't know if you want them. Unlike Uccs, which all qualified for funding, these merchants come from high and low, and that's literally. You will have low revenue and low time in business as well as whales. You can usually filter out the smaller ones for an extra price, however. * Generated Opt-In: Aged Pipeline Value: Merchant took action to inquire about funding. Challenge: They're usually just information seeking or rate shopping and not ready to take action yet. They do convert, but you need to nurture/follow up, and they have a much longer turnaround time to conversion, 2-4 months usually. Bonus Value: These merchants are usually on their first go 'round, so if you take care of them, they tend to be more loyal, leading to a stronger renewal book. * A Paper Declines Value: Merchants that didn't meet credit requirements to work with top lenders, or their credit was so high, they felt they could find better and passed on the offer. Challenge: You need to have multiple financing programs and know how to deal with more savvy and responsible merchants. You also need to know how to get a merchant off his spaceship and back to earth regarding his true financial prospects. * Packs Value: Merchant took the time and effort to apply and go through the initial process, so very high intent. Challenge: Legal issues with distributing personal information without permission, saturation like Uccs, overseas scams. And applying and qualifying are not the same, as many merchants who apply will not qualify for anything. * B2B Data Value: Files are usually clean, and larger, and renewal book will be through the roof if this is a heavy part of your portfolio, as long as you take care of your merchants. Challenge: The hardest data type to prospect to. Ten to twenty times less responsive than opt-in leads. Requires the most skill by your salespeople, or automation. * UCCs Self Scraped Value: You're getting UCCs before competitors get them, giving you a short window of minimal saturation with a very high-quality lead. The window is short because there are some doing it currently. Challenge: Difficult and/or time-consuming process, which makes it very hard to scale. * Referral Leads _Bank _Accountant _Lawyer Value: Most will say this is the best type of lead (outside of an exclusive UCC, or a merchant you funded yourself). Because you're leveraging the strength of a previous trusted relationship, the merchant will do almost anything you tell him to do, even if it’s bad advice. Challenge: You have to cultivate outside relationships with key people or key organizations and have them trust you enough to send you their bread-and-butter customers. This takes time and positioning, or very strategic actions, and you won't see results overnight. It's also very hard to scale even when you have the relationships. * MCA Triggers (credit pull) Value: A merchant just had their credit ran to obtain a cash advance, so they're obviously hunting for money. Challenge: You weren't the one that ran their credit, so you have to be able to break the ice with the merchant. Having credit ran doesn't mean the merchant is okay with 38% money over a short term, so you still have to dissect, sell, and close. * Co-Registration leads Registered for another service and was prompted to see if they also wanted business funding. Value: It's similar to an opt-in lead in that the merchant took action to request information. Challenge: What and who they co-register with is very important. What they remember is very important. A merchant who signed up to take his kids to Lego Land, may have absent mindedly click that he may also be looking for funding. Sometimes they are incentivized to fill out your form, to receive something else they really want, and calling them becomes a waste of time. * Double Opt-In data Value: Merchant opt'd in to receive messages in regards to your industry. TCPA compliant, usually accurate data, and litigator free. Challenge: They're not specifically looking for funding now, (or ever) so it will take nurturing and time before you see any results. But usually lead to good renewal books long-term. www.UccRadar.com – Large sales volume merchants filling out your application.
-
Yesterday, 04:10 PMYou might be able to get a CDFI or microlender to touch that, but if you're looking to get paid you'd need an agreement.
-
Yesterday, 04:05 PMAppreciate the advice - he's in need of something beyond a credit card. Nailed down something with a mission based lender previously and likely that will need to be the path again, but putting it out there if there's any additional options.
-
Yesterday, 03:32 PMget his credit repaired and get a credit card
-
Yesterday, 03:21 PMSmall residential contractor looking for working cap to float a couple of upcoming projects. Came in under $100k in revenue last year. 600, one ucc, no mcas. Coming off of slow season so recent banks show limited activity. Limited equipment to leverage. TIA.
-
Yesterday, 03:16 PMI've got a couple of excellent Underwriters in my network who are looking, BUT they would both have to be remote. If that's not a deal-breaker, please e-mail me at: steven@hunterconsultingllc.com Thx
-
Yesterday, 03:15 PMJasonBishop replied to a thread Steven Roy Weaver - SCAM ARTIST - FRAUDSTER in Merchant Cash AdvanceShirley is in there with the Price is Right on and the volume all the way up. Meanwhile her son is back in the spare bed room firing out fake documents.
-
Yesterday, 02:51 PMHey, come on man, seriously?? How could you possibly give him that much credit? That's his mom's house!
-
Yesterday, 01:53 PMjaffecapital replied to a thread Anyone here can fund with individual brokers? in Merchant Cash AdvanceJaffe Capital- We cover from 1st-5th position A-C paper. Our Platinum program for 1st & 2nd are up to 18 months and pay up to 9 points on 1.33. Please reach out if you have any questions.
-
Yesterday, 01:41 PMwhat a nerd
-
Yesterday, 01:32 PMIn answer to the question posed on the top, the puzzle starts to be unraveled with the answers to the following questions: - What's the industry? - What's the FICO? - What's the collateral? AR, RE, inventory or is there any at all? - What's the senior debt? Most clients with that amount of revenue are probably sitting behind an SBA or bank LOC or a factor and that's why they ended up with the MCAs in the first place.
-
Yesterday, 01:31 PMJasonBishop replied to a thread Steven Roy Weaver - SCAM ARTIST - FRAUDSTER in Merchant Cash AdvanceThat house on Birchwood looks like a dump.
-
Yesterday, 01:23 PMSendDocsPlox replied to a thread Steven Roy Weaver - SCAM ARTIST - FRAUDSTER in Merchant Cash AdvanceImagine getting scammed by Carlos Mencia
-
Yesterday, 01:04 PMHey Rich, looks like you're signed up with us already. Shoot that deal over!
-
Yesterday, 12:59 PMI got it bro. need financials, assets, inventory, A/R, etc...
-
Yesterday, 12:56 PMTheUnderwriter replied to a thread Steven Roy Weaver - SCAM ARTIST - FRAUDSTER in Merchant Cash AdvanceNow thats an ID Photo. Looks like a clown
-
Yesterday, 12:53 PMMerchant does between 2.5 million to 2.8 million monthly revenue, Merchant also has 4 MCA positions currently paying close to 200k weekly on payments. Who would be able to do a true consolidation? who would buy out the current MCA 4 positions. Or any other input would be appreciated. Thank You
-
Yesterday, 12:36 PMJaffe Capital- We cover from 1st-5th position A-C paper. Our Platinum program for 1st & 2nd are up to 18 months and pay up to 9 points on 1.33. Please reach out if you have any questions.
-
Yesterday, 11:38 AMtheonlyunderwriter replied to a thread LOC SCAM THREAD. Index of LOC Scam Companies and people... in Everything elseits probably Steven Weaver - he is notorious for this. hes been doing it for 15+ years. ask your merchants if they received fake term sheets. check my post about him here: https://dailyfunder.com/showthread.php/26805-Steven-Roy-Weaver-SCAM-ARTIST-FRAUDSTER?p=191601#post191601