[michaelh]

I have a Customer looking for 250k at least a 1 year deal with a buy rate of no more than 1.179
If you can do this them PM me please

[Triton]

1.179??

I take it you're not looking to make any money here? The only people I can think of that will come close to that is OnDeck.

[FUNd]

Sure, anyone can do a deal for 1.18 - with no details provided whatsoever.

[rick_clsfunding]

with no details provided whatsoever.

I know, right...

[michaelh]

And if you had read it - I asked for Direct Funder's to Private Message me if they had funding in that range and I would supply information to them directly. I do not believe in dumping client information into an open forum to get hashed out. And I have 2 Possible Funder's right now who will get copies of the banks and Accounts receivables and P and L and Tax returns.

[WhoisKingsley]

I have a Customer looking for 250k at least a 1 year deal with a buy rate of no more than 1.179
If you can do this them PM me please

This is possible depending if the basic qualifications meet an A paper Funder/Lender. How much are you willing to sacrifice in commission? I say 3pts is your max on this one and the ones who have the minimal rates are strict with ISOs charging fees.

[AndyYSCISOdept]

And if you had read it - I asked for Direct Funder's to Private Message me if they had funding in that range and I would supply information to them directly. I do not believe in dumping client information into an open forum to get hashed out. And I have 2 Possible Funder's right now who will get copies of the banks and Accounts receivables and P and L and Tax returns.

You're right don't take that snarky remark!

[FUNd]

And if you had read it - I asked for Direct Funder's to Private Message me if they had funding in that range and I would supply information to them directly. I do not believe in dumping client information into an open forum to get hashed out. And I have 2 Possible Funder's right now who will get copies of the banks and Accounts receivables and P and L and Tax returns.

TWO possible funders? I don't believe it.

[Zach]

Kalamata, BB, and OD

[Chambo]

Kalamata, BB, and OD

TBB's top tier would be 12 month 1.18 buy rate. So if you are doing the deal with zero commissions....

[michaelh]

TBB's top tier would be 12 month 1.18 buy rate. So if you are doing the deal with zero commissions....

well - at a buy rate of 1.18 it Gives me room to add a couple points for commission and get a sell rate of 1.21 - 3 points on 250k is a good days work and on to the next deal

[michaelh]

TWO possible funders? I don't believe it.

Well Swift, Businessbackers, and Kalmata disagree with you right now

[sigmundpannu]

If they're an A paper deal then take them to a term lender with a single digit rate. If 3 bps is what your going to make them give your client a better option than kalamata, swift and business backer. And if you have 3 funders why are you still looking?

[FUNd]

3 points on 250K you call a win? I call it getting your pants pulled down, off, and flung across the room.

[michaelh]

If they're an A paper deal then take them to a term lender with a single digit rate. If 3 bps is what your going to make them give your client a better option than kalamata, swift and business backer. And if you have 3 funders why are you still looking?

I am not looking anymore the three funders came forward after the post -

[michaelh]

3 points on 250K you call a win? I call it getting your pants pulled down, off, and flung across the room.

Well that's your thought - but by getting this customer the cash he needed I also got a lease for 473,000 on equipment - and a satisfied customer who will refer other Business associates.

[Chambo]

Well Swift, Businessbackers, and Kalmata disagree with you right now

They do deals at those rates....doesn't mean they will do YOUR deal at those rates

[FUNd]

Well that's your thought - but by getting this customer the cash he needed I also got a lease for 473,000 on equipment - and a satisfied customer who will refer other Business associates.

You posted looking for a lender yesterday at 1pm. You already got him funded and an equipment lease done for half a million bucks?

#1 You are an amazing salesperson.

#2 What is the name of the lender that made that happen? I need their contact information.

[Chambo]

You posted looking for a lender yesterday at 1pm. You already got him funded and an equipment lease done for half a million bucks?

#1 You are an amazing salesperson.

#2 What is the name of the lender that made that happen? I need their contact information.

Not to mention, if the merchant already took out $400K+ on an equipment deal, all the above mentioned potential offers are null and void.

[michaelh]

You posted looking for a lender yesterday at 1pm. You already got him funded and an equipment lease done for half a million bucks?

#1 You are an amazing salesperson.

#2 What is the name of the lender that made that happen? I need their contact information.

I have an offer from three funders subject to final all presented to client - the lease was in the works but he needed the money for building improvements in order to upgrade his plant and power systems all not things a lease can provide. I did not look for the cash improvements until final approval on the lease was given on Monday. Its called customer service and working the deal to closing.

The lenders are aware of the equipment deal and the use of funds. And before you get confused the improvements are on a property he leases triple net and his landlord is not responsible for upgrading to 880 Three Phase power systems and he has to pay the power company to upgrade the feed service to the building. He also needs to install some Direct Current and Battery backups to use the New Equipment.

[FUNd]

I have an offer from three funders subject to final all presented to client - the lease was in the works but he needed the money for building improvements in order to upgrade his plant and power systems all not things a lease can provide. I did not look for the cash improvements until final approval on the lease was given on Monday. Its called customer service and working the deal to closing.

The lenders are aware of the equipment deal and the use of funds.

You presented your offer to the client, and you think you are anywhere NEAR closing this deal? Yesterday was your first day wasn't it?

[michaelh]

You presented your offer to the client, and you think you are anywhere NEAR closing this deal? Yesterday was your first day wasn't it?

Its impossible to have an intelligent conversation with someone like you. The client has been a customer for 8 years on various leasing projects. And you wonder why this industry has such a bad reputation with people trying to bury the customer with Hugh commissions and fees. You want to rape clients on one time commission complaining that 3 percent on 250k is not a good days work and then you can do nothing but make smart ass comments to people who develop long term customers based on hard work and business solutions. This industry does really need some regulation.

[FUNd]

Its impossible to have an intelligent conversation with someone like you. The client has been a customer for 8 years on various leasing projects. And you wonder why this industry has such a bad reputation with people trying to bury the customer with Hugh commissions and fees. You want to rape clients on one time commission complaining that 3 percent on 250k is not a good days work and then you can do nothing but make smart ass comments to people who develop long term customers based on hard work and business solutions. This industry does really need some regulation.

Is this what your experience has led you to believe? That we need regulation and are a bunch of 'rapists'? Let me break it down pee-wee: 3 points on 250K is NOT a good "days" work. If you ever ran a business you would know that there are costs, like admin, rent, marketing, payroll, TAXES, etc. - You're a certified idiot. Have fun not closing this deal. I'm done.

[michaelh]

Is this what your experience has led you to believe? That we need regulation and are a bunch of 'rapists'? Let me break it down pee-wee: 3 points on 250K is NOT a good "days" work. If you ever ran a business you would know that there are costs, like admin, rent, marketing, payroll, TAXES, etc. - You're a certified idiot. Have fun not closing this deal. I'm done.

You just made my case - You don't have Hugh marketing cost and payroll cost when you have repeat customers. You have to build relationships to get referrals. And the Bulk of our business with my partners is SBA and receivable and lease financing. If you just look at our customer list I can tell you that we have a stack of customers in Illinois whose credit has been hammered by the States Budget problems and they have been forced into short term borrowing - but that does not mean that I would take the route of burying them with expense loans and hit them for max commission. When Illinois and the Federal Government start paying again in under 6 months then all of these business's owners credit will recover.

And then we can refinance with SBA and bank products - and your right we will only earn 2 points on SBA loans and according to you nobody can run a business doing this type of lending.

[bdshaw]

Let me throw in my 2 cents Michaelh. I agree with you that 3 points on this deal is reasonable but I'm not sure why you want to put them into an advance. The APR to the customer is around 30%. It sounds like you could make more money, increase the loan amount and get much better terms for your customer by putting him into an ABL.
Bob Shaw
Advance Credit Funding Corporation
734-929-3800
rshaw@advancecredit.com
rshaw@millenniuumfundingusa.com