[MCNetwork]

I want to give a special shout out to Fernando and the team at Central Diligence Group for getting a challenging file funded in one day. My merchant is a general contractor with 3-4 deposits per month (an auto decline at most places) and they got him 50K with a very competitive factor rate. The deal was done with minimal stips and super responsive underwriting. If you want to work with some real studs in the industry sign up with these guys TODAY!

www.centraldiligencegroup.com

[DiamondBL]

I want to give a special shout out to Fernando and the team at Central Diligence Group for getting a challenging file funded in one day. My merchant is a general contractor with 3-4 deposits per month (an auto decline at most places) and they got him 50K with a very competitive factor rate. The deal was done with minimal stips and super responsive underwriting. If you want to work with some real studs in the industry sign up with these guys TODAY!

www.centraldiligencegroup.com

These guys come thru solid~

[J.Celifarco]

all good guys over there, they know what they are doing

[WestCoastFunding]

all good guys over there, they know what they are doing

Good women, too, like Jackie.

[ADiamond]

are they direct funders or a 3rd party UW consultant ?

[WestCoastFunding]

are they direct funders or a 3rd party UW consultant ?

3rd party.

[Michael I]

confused . how did they fund a deal for mcnetwork if all they do is the 3rd party underwriting . Are they like brokers ?

[mcaguru]

shout outs are kewl!!

[MCNetwork]

CDG are 3rd party underwriters. I didn't deal with the actual funder. It's a unique relationship and they don't operate like a typical ISO. You submit a deal to them and they perform soup to nuts underwriting and "sell" the deal to the Funder who then deploys the capital. Their value add is their underwriting prowess and ability to get difficult deals done. Plus I'm sure they have preferential buy rates that an outside ISO can't get right off the bat.

[Yankeeman07]

This section of DF has now become "Promotions"

[J.Celifarco]

if they were promoting themselves then yes but if an ISO wants to give someone props for a job well done then I dont have a problem with it being here

[Yankeeman07]

if they were promoting themselves then yes but if an ISO wants to give someone props for a job well done then I dont have a problem with it being here

Forum: Merchant Cash Advance
Purchases of future revenues (discussion only

[WestCoastFunding]

Dave is such a dick. Don’t be a dick, Dave.

[Michael I]

the question is , how many times does dave need to make a fool of himself before he quits being the unofficial df police

[WestCoastFunding]

First thing that comes to mind is the soap-beating scene from full metal jacket.

[Michael I]

CDG are 3rd party underwriters. I didn't deal with the actual funder. It's a unique relationship and they don't operate like a typical ISO. You submit a deal to them and they perform soup to nuts underwriting and "sell" the deal to the Funder who then deploys the capital. Their value add is their underwriting prowess and ability to get difficult deals done. Plus I'm sure they have preferential buy rates that an outside ISO can't get right off the bat.

interesting thanks for explaining

[mcaguru]

I have spoken to several Uber-Sharp 3rd party underwriting firms -- it seems they would have killed (based on systems) a majority of deals that we NOT ONLY fund daily but they would have killed a nice portion of deals that continuously re-pay us!

with that said i have never heard a bad word about Central Diligence Group!

[DonMcGrath]

First thing that comes to mind is the soap-beating scene from full metal jacket.

That was my first internalized guffaw today.

[Nikkiclean06]

So its a broker Submitting the deal to a better broker who sells the file to the funder who sells the money to the broker. Broker sells the money to the merchant

Wow this a great process Hahahhahaha

[MCNetwork]

I guess that's one way to look at it. I see it as getting a difficult deal funded quickly and efficiently by a team that I trust. And getting paid.

[ryan $]

So its a broker Submitting the deal to a better broker who sells the file to the funder who sells the money to the broker. Broker sells the money to the merchant

Wow this a great process Hahahhahaha

Nikki - You have mentioned Aquila Before... they essentially do the same thing - They Have "Investors" after the approval is issued and file is underwritten - essentially it needs to be approved by investors.

[funding pro]

I would say the best way to describe would be similar to SmartBiz. They work with lenders, learn exactly how they want a deal to be underwritten, do all the upfront gathering, underwriting, pricing, contracting etc and when the file is complete and ready they submit it to the lender for a final review to be wired. Only major difference is I believe they actually syndicate on the deals with the lenders and the deals turn around in about the same time it would take to get an MCA funded.

[Karen37a]

I would say the best way to describe would be similar to SmartBiz. They work with lenders, learn exactly how they want a deal to be underwritten, do all the upfront gathering, underwriting, pricing, contracting etc and when the file is complete and ready they submit it to the lender for a final review to be wired. Only major difference is I believe they actually syndicate on the deals with the lenders and the deals turn around in about the same time it would take to get an MCA funded.

From what I know ( and I did not investigate so I may be wrong) Smart biz is an sba loan "faciliator" and they specialize in the non express sba 7(a) loans under 350k

There are SBA loans for various "categories" or "algorithms" over 3500 banks and credit unions and the top 100 banks that offer SBA loan based on certain criteria.

I am sure having someone with knowledge of the"algorithms" and "esoteric scoring models" helps with correct placement and speedy closings but I do not believe they are chipping in for sbas with wellsfargo/jpmorgan chase/ suntrust/tdbank etc.

Also, they have referral relationships in place that most can never achieve.

Again i never investigated it so someone can correct me if I am wrong.

[Karen37a]

If you want a full explanation of where the "loans" or even mortgages, investors go after they hit the system you can ask happy hor**** if he ever logs on again.That's where it gets complicated.

Banks are selling off the "guarantee" to meet capital liquidity requirements. There are sba pool assemblers, settlement thru a transfer agent.

This is where all the "money" gets complicated and you need "investors" to take the "loans" off your hands. This is also how CDOs work and mortgage-backed securities.

[Zach]

What an interesting model this group has. I am assuming they participate on their transactions as well, which gives them and the lender a clear incentive to reconsider certain transactions.

I'd be curious to speak with them and see how they do it. Anyone have contact info?