[Lmonus]

Guys, i have never done a deal with WBL, and this isn't going to be the last.

I want to give to Zach and the entire WBL team for doing an outstanding job on funding my deal.

115k 1.37 with a 6 month term. Doesn't get any better than that. Zach and the Entire team have been working non stop day in and day out on this file. Every single red flag was turned into a green one.

WBL is happy, i am happy, and most importantly the merchant is happy. The merchant is already asking me about renewal!

Who ever doesn't work with Zach and his team is missing out BIG TIME!!! Sign up with them!

Look forward to meeting you in person when i see you in Jersey! Have a good rest of your day guys. I officially love Mondays now.

[Karen37a]

Great Lmonus ...Now your other post that says you are 100% Direct Lenders can change to 99.9999% wtg !!

[Zach]

Great Lmonus ...Now your other post that says you are 100% Direct Lenders can change to 99.9999% wtg !!

Actually CFG Merchant Solutions was the lender on this file, and I consolidated them and paid their balance off. From a technical standpoint they brokered this one to us, however they were originally taking payments and wanted to payoff/consolidate their own balance.

And heck yes Lior, we worked our butt off for that one. Let's get him round two ASAP ;-)

[Lmonus]

LMAO that is correct. When i get a merchant direct who is looking for 115k with 4 existing positions ( One being mine ), there is nothing more that i can do but to outsource the deal. Gotta love having a source for every single type of deal.

Everything is fundable!

Regardless, Thank you Karen

[Lmonus]

Zach, Round 2 starts tomorrow. ACH form is being filled out as we speak.

Amazing job dude. Lets keep it going. Squad going ^^^^^^^

[ridextreme]

how much real estate did he have to sign away

[Zach]

how much real estate did he have to sign away

Very little actually, plus we saved his business from the 4 positions eating him alive. By utilizing his inefficient, unused equity we were able to offer him a superior product than any of his other options.

[mcaguru]

My grandfather said you want to get somthnig done go to a busy man! Zach deff a busy man!

[Karen37a]

Yeahhh Drinks on you ! ( I am kidding with you, glad you got your deal done and helped out a merchant) If I dont fund my 2 100k deals in a day or so I am going to have to run to Marcus and he loves me so.


adding/editing ****like a sister

[FUNd]

My grandfather said you want to get somthnig done go to a busy man! Zach deff a busy man!

A SIX month 1.37 real estate backed loan for 115k and you just said "it doesn't get any better than that"? 74% APR for a fully secured loan?!? I just choked on my chicken bowl.

I think we all know by now that Zach is the king billionaire shark of the collateralized MCA industry. I was at a party this weekend at his house at 1 Ocean Drive in Malibu and the caviar, cocaine buffet, and Lamborghini races up and down his private street were off the hook. Thanks Zach!

[J.Celifarco]

A SIX month 1.37 real estate backed loan for 115k and you just said "it doesn't get any better than that"? 74% APR for a fully secured loan?!? I just choked on my chicken bowl.

I think we all know by now that Zach is the king billionaire shark of the collateralized MCA industry. I was at a party this weekend at his house at 1 Ocean Drive in Malibu and the caviar, cocaine buffet, and Lamborghini races up and down his private street were off the hook. Thanks Zach!

Seriously Zach and you dont invite all of us

[OC Funder]

A SIX month 1.37 real estate backed loan for 115k and you just said "it doesn't get any better than that"? 74% APR for a fully secured loan?!? I just choked on my chicken bowl.

I believe this loan would actually be 117% APR... pretty brutal. Still, the upside would have to be astronomical for me to give 100k to someone stacking 4 daily payments together. Maybe there were perfectly logical reasons to take so many advances simultaneously, but in all likelihood this person is addicted to debt and a ticking time bomb.

[Zach]

I believe this loan would actually be 117% APR... pretty brutal. Still, the upside would have to be astronomical for me to give 100k to someone stacking 4 daily payments together. Maybe there were perfectly logical reasons to take so many advances simultaneously, but in all likelihood this person is addicted to debt and a ticking time bomb.

The good news for this guy is that we reduced his effective APR by an insane amount.

He had a 3-month 1.45 in there, which is approximately 335% APR... someone had to throw him a life saver.

[FUNd]

I believe this loan would actually be 117% APR... pretty brutal. Still, the upside would have to be astronomical for me to give 100k to someone stacking 4 daily payments together. Maybe there were perfectly logical reasons to take so many advances simultaneously, but in all likelihood this person is addicted to debt and a ticking time bomb.

Of course it's a ticking time bomb. WBL is at least smart enough to figure it out and back their investments with real estate. MCA is the biggest bubble since subprime mortgage and the meniscus is so thin, a soft breeze is going to bust it, watch.

[Cfairbank]

A SIX month 1.37 real estate backed loan for 115k and you just said "it doesn't get any better than that"? 74% APR for a fully secured loan?!? I just choked on my chicken bowl.

Ha! Here's something that will make you choke again: the APR is actually closer to 150% (not including fees) assuming straight-line daily amortization -- straight-line weekly amortization around 135% not including fees.

[Jonathon]

With more and more merchants stacking this is a great option for those who need to free up their daily cash flow that is going toward daily multiple daily payments, now he has some breathing room with 6 months instead of 3. A lot of these merchants want to consolidate, but few qualify for Funding Circle/ Fundation programs, the WBL product is a great alternative for this type of merchant.

[305Shark]

Next time I want invites to the Malibu party

[FUNd]

Ha! Here's something that will make you choke again: the APR is actually closer to 150% (not including fees) assuming straight-line daily amortization -- straight-line weekly amortization around 135% not including fees.

Thanks Carl. Everyday I feel more like and more like a used car salesman, but at least their customers get something to drive off the lot, ours just get the money sucked out of their account faster than they can use it. No wonder the feds and states are all over this industry. Predatory is an understatement. I have information from my bro who is a well connected attorney that knows some very important lawmakers. All I can say is a lot of you people patting yourself on the back for being the worlds greatest entrepreneurs and salespeople better start polishing your resumes instead of polishing the rims on that leased c-class Benz.

[HDF]

Thanks Carl. Everyday I feel more like and more like a used car salesman, but at least their customers get something to drive off the lot, ours just get the money sucked out of their account faster than they can use it. No wonder the feds and states are all over this industry. Predatory is an understatement. I have information from my bro who is a well connected attorney that knows some very important lawmakers. All I can say is a lot of you people patting yourself on the back for being the worlds greatest entrepreneurs and salespeople better start polishing your resumes instead of polishing the rims on that leased c-class Benz.

There are so many parallels to other industries, that if MCA shops and SMB loan outfits have not gotten their ducks in a row by now - they are in big trouble. I can't agree more with FUNd.

[Lmonus]

Everybody is talking about APR this APR that. The merchant got what he wanted. Paid off advances, saved a buck or two and is turning this 115k at a rate of 300%. Why does 150% APR matter at this point?

The merchant got what he wanted, WBL funded a deal, and we got paid commission. DOESN'T GET BETTER THEN THAT!

Don't hate, Appreciate. Lets all get back to work and close more deals.

[Cfairbank]

Everybody is talking about APR this APR that. The merchant got what he wanted. Paid off advances, saved a buck or two and is turning this 115k at a rate of 300%. Why does 150% APR matter at this point?

The merchant got what he wanted, WBL funded a deal, and we got paid commission. DOESN'T GET BETTER THEN THAT!

Don't hate, Appreciate. Lets all get back to work and close more deals.

Not knocking WBL at all -- merchants that get themselves so deep in a hole with multiple stacks have very few options -- and Zach provided what may have been the only lifeline available.

The problem that so many people don't seem to get in this industry is where does this merchant go from here? Whether it is a 6 month 1.37x or a 3 month 1.45x, the margins and growth rate of a business would have to be insane to even break even on multiple renewals (not even taking into account that most funders double dip on each renewal) -- and that's where APRs or effective APRs are very meaningful. You saved the merchant from a likely bankruptcy, and kudos to you and Zach on making that happen -- I think it's great. Now you should address the hard part -- getting them on sustainable funding that enables them to operate a profitable business. Firms that don't get (or don't care about) that next step will not make it through the inevitable market shake-out and won't have a leg to stand on when regulation comes into place.

[Karen37a]

I bet money that that merchant stacks you again. I hope he doesn't.

I talked with a guy who had 6 advances some crazy daily payment amount....40-57k. And he was factoring receivables

I said to him, Do you realize you are taking out advances to pay back advances? And he replied.."have you ever heard of the saying ...no sh*t Sherlock?"

I asked him if he really wanted me to help him, make a plan to get out of this. I called him once then decided he is just a big waste of time...Something called Next!

Wonder if he is still in business...maybe ill call again.

[MCNetwork]

These merchants are smarter than you think. They have all the funders playing musical chairs with him and he'll have the last laugh when the music stops and the funders realize that the chairs are all gone.

[Zach]

I bet money that that merchant stacks you again. I hope he doesn't.

I talked with a guy who had 6 advances some crazy daily payment amount....40-57k. And he was factoring receivables

I said to him, Do you realize you are taking out advances to pay back advances? And he replied.."have you ever heard of the saying ...no sh*t Sherlock?"

I asked him if he really wanted me to help him, make a plan to get out of this. I called him once then decided he is just a big waste of time...Something called Next!

Wonder if he is still in business...maybe ill call again.

Call and ask if he has real estate collateral