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  1. #1
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    Closest Competitor to On Deck's 18 MTH. I need lenders

    MCC goes out to 15 mths.

    Where are Rapid, BFS and the other guys on these longer programs? Any suggestions?

  2. #2
    Senior Member Reputation points: 3217 CO1's Avatar
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    BFS 15 month
    MCC 15 month
    Caprock 10 month
    CAN CAPITAL 18-24
    IOU 12 MONTHS
    SNAP 14 MONTH

  3. #3
    There are qualifiers to get those longer terms it's not automatic so ask your account manager for details -

  4. #4
    Senior Member Reputation points: 325 Ryan Shiroky's Avatar
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    AmeriMerchant & Main Street Business Loans - 10 months

  5. #5
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    GRP goes out to 15 months on MCA & standard loans. We also have 18 & 24 month premium loans.

  6. #6
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    ARF goes 18. Needs to fit the box of course.

  7. #7
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    Thanks, everyone - definitely appreciate the suggestions.

    Should I be suspicious of an On Deck contract sent to a merchant (via ISO) for 18 mths for 20K+ what the merchant is averaging. Merchant has been with On Deck on an 8 mth program - but the 18mths for an additional 20k on top of his average seems a bit odd. He's doing about 50k in sales.

  8. #8
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    The hard thing is getting a low enough buyrate to compete. Sure - the programs stretch that long. But who can offer a buyrate for me that is competitive for us to make something? I won't go to BFS. They outright cheat ISO's who bring them good deals. Was too lenient in bringing them a few stellar deals where they wouldn't go down on their high buyrate at all to get the deal. We asked to switch acct. managers but it never happened; since from what I understand, they can make the difference between what the ISO's upsell and the base points.

  9. #9
    Senior Member Reputation points: 30475 Zach's Avatar
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    CAN has the best long-term programs. 18-20 month elite program has a buy rate of 1.24. Their 18-20 month restaurant franchise program has a 1.19 buy rate. By far the cheapest in the industry right now.

  10. #10
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    Quote Originally Posted by GRP Funding View Post
    GRP goes out to 15 months on MCA & standard loans. We also have 18 & 24 month premium loans.
    Brian is the guy you want to call.

  11. #11
    Will any of these programs, such as CAN 18-24 months allow weekly payments?

  12. #12
    Senior Member Reputation points: 30475 Zach's Avatar
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    BFS does comparable offers to On Deck, and they will do weekly payments on large fundings. They also allow 15 points, which is nice.

  13. #13
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    Quote Originally Posted by Zach View Post
    BFS does comparable offers to On Deck, and they will do weekly payments on large fundings. They also allow 15 points, which is nice.
    Yea, you can get a nice pay out with BFS and plenty of flexibility to play around with the term and cost. I have read some negative things about them and am happy to say my dealings with them have been fine (they can be a bit faster though). Buy-rate is a bit high but the 15 month term offsets that.

    For a $50k deal, I would honestly send there and Snap. Snap is perfect for a $25,000-$50,000 deal. Decent buy rate, up to 14 months and they fund pretty fast.

  14. #14
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    Quote Originally Posted by Quickfunder View Post
    Thanks, everyone - definitely appreciate the suggestions.

    Should I be suspicious of an On Deck contract sent to a merchant (via ISO) for 18 mths for 20K+ what the merchant is averaging. Merchant has been with On Deck on an 8 mth program - but the 18mths for an additional 20k on top of his average seems a bit odd. He's doing about 50k in sales.
    This is something I'v seen more of in the last 6 months.

  15. #15
    Senior Member Reputation points: 30475 Zach's Avatar
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    Quote Originally Posted by Quickfunder View Post
    Thanks, everyone - definitely appreciate the suggestions.

    Should I be suspicious of an On Deck contract sent to a merchant (via ISO) for 18 mths for 20K+ what the merchant is averaging. Merchant has been with On Deck on an 8 mth program - but the 18mths for an additional 20k on top of his average seems a bit odd. He's doing about 50k in sales.
    On Deck lends up to 15% of their gross annual revenue, which is why you are seeing that approval.

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