Activity Stream
All times are GMT -4. The time now is 01:32 PM.
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Older Activity
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Today, 01:31 PMJonathanHendrix replied to a thread Business Funding, fees from 1% per week* in Merchant Cash AdvanceI mean fair enough, I would also like the answer to my question about the fees as well
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Today, 01:23 PMI'd like to share a Schedule that will allow you to visualize the program, please email me mike@regiumfunding.com
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Today, 01:21 PMI completely agree.
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Today, 01:00 PMThis part of your statement is incorrect - but, put that aside - Your client provides a Virtual Terminal-Gateway as a monthly subscription or are they acting as a EWallet ? Just guessing at what the business model is. Either way, with that type of revenue, (You don't mention the amount of funding requested) would they qualify for a better product than an MCA? Here's an analogy to describe what they do. Microsoft, Inc designed a software called Microsoft Office, which has a suite of products like Word, Excel, etc. They sell it to Best Buy and Staples and Office Max. Each of those retailers pays Microsoft royalties every time the Office suite is sold off their shelves. That's what this company does. Problem is, funders are confusing the merchant for being Best Buy, not Microsoft.
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Today, 12:29 PM
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Today, 12:25 PMImagine being so weak you can't generate your own leads and have to resort to a felony to get a submission. You are a certified clown.
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Today, 12:15 PMJonathanHendrix replied to a thread Business Funding, fees from 1% per week* in Merchant Cash AdvanceI don't fully understand then, What is the closing fee? Was I correct about it being a balloon payment to the merchant at the end? or is it pretty much a psf you stack on with the origination fees? What was the total origination fee?
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Today, 12:13 PMAre there any lead sources that provide a signed app and most recent bank statements
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Today, 12:11 PMOlderguy replied to a thread Merchant only need's it if it's gonna be better then what he's paying now which is10% in Deal BinHe has unrealistic expectations....take the 10%
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Today, 11:58 AMPeter Parker replied to a thread Merchant only need's it if it's gonna be better then what he's paying now which is10% in Deal BinRecently merchant tried for an SBA and was declined
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Today, 11:57 AMThe deal was structured as 1.32, 32 weeks, 1% per week - payoff any week. Weekly payment was 4125 on the 100K.
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Today, 11:00 AMExperian Boost is a waste of time. Nobody checks that FICO model that Experian adds your gas bill to the report. Creditchecktotal.com is JUST Experian.com, CCT made it notoriously impossible to cancel your subscription, wait on the phone for 3 hours and maybe they'll let you cancel, and they got sued and sold off to Experian. There's a better service out there, IdentityIQ, @OP you can use my affiliate link: www.abfunders.com/idiq
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Today, 10:58 AMShoot me an email, we do live leads from a landing page. mike@popbrands.io
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Today, 10:54 AMJonathanHendrix replied to a thread Business Funding, fees from 1% per week* in Merchant Cash AdvanceFrom what I'm reading It should be $100k multiplied by 1.12 divided by 12 weeks (3 months) Totaling $9,333 in weekly payment Plus an additional 3% balloon payment at the end.
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Today, 10:53 AMCapitalize will fund it as long as there's an account and routing number.
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Today, 10:43 AMWe fund 1st trucking. Max term 5mo/20weeks for trucking. 7mo/28weeks for all other industries. You can submit to subs@capitalizegroup.com and mention this thread.
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Today, 10:42 AMWe can take a look at this. Max term seven months. You can submit to subs@capitalizegroup.com and mention this thread.
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Today, 10:34 AMOlderguy replied to a thread Merchant only need's it if it's gonna be better then what he's paying now which is10% in Deal BinThe magic lamp broke yesterday. My bank (US Bank) and American Express are offering 6% business loans but I have good credit. Some of their credit card companies may have business loans available as promotions. SBA 504 in the 6% range.
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Today, 10:29 AMPeter Parker started a thread Merchant only need's it if it's gonna be better then what he's paying now which is10% in Deal BinThe merchant has received an offer from his bank but still wants to explore if he can find something better. CS is 730-750 and the rev is $60,000. Looking amount - 80K-100K term 12-24 less than 10%, Is it possible?
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Today, 10:14 AMJonathanHendrix replied to a thread REALTIME Reconciliations with FundKite - How we do it. in Merchant Cash AdvanceI do appreciate this reply though :D I enjoy when a funder does have humor
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Today, 10:13 AMJonathanHendrix replied to a thread REALTIME Reconciliations with FundKite - How we do it. in Merchant Cash Advanceyo, I don't believe arguing with this guy is making you look better. Both of you could definitely be handling yourselves better. As a funder though this comes across not so good
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Today, 10:01 AMdailyfunderppt replied to a thread This feed is always way too serious. What funny stuff do you guys do at work? in Merchant Cash Advancethis is the thread we needed!
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Today, 09:58 AMdailyfunderppt replied to a thread REALTIME Reconciliations with FundKite - How we do it. in Merchant Cash Advanceyikes
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Today, 09:06 AMExperian Boost can help and it's available on their site - it's free. Credit utilization is best when at 30% of your credit limit or below. You can go to creditchecktrotal.com, pay $1 and get all three reports and scores. You have to remeber to cancel afterwards. That's what i use for all my real estate loans for clients.
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Today, 05:04 AMI'm trying to learn how different habits affect credit scores. My score is about 650 and I'm working on raising it by paying off debts and paying bills on time. I know that having a long credit history and different types of credit accounts also matter. What is your credit score and what simple tips have helped you keep it high or improve it?
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Today, 04:29 AMTry Lighter Capital
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Today, 01:15 AMSome day, there will be a real loan officer who will enter this forum asking questions....but also know the use funds and how quickly the funds will be needed. The loan officer, after reviewing the clients financials can then determine an opportunity that makes the most financial sense for the long range benefit of the company. That helps the company grow profitability. Not there yet, but it will be coming. Maybe a cash out refi of their property - get low rate cash. Line of Credit ABL - asset based financing on vehicles Business credit cards that can convert to a LOC equipment based financing of current trucks free and clear.... Learn and grow or become a dinosaur. Which will you be in 5 years...the MCA broker or the Loan Officer.
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Today, 01:06 AMAll I see here is MCA questions presented to MCA lenders.... Where's the financials to determine a formal loan offficer type of full financial review to deterimine better options for the client. Sounds like they need some IP branding to differentiate them from the traffic to gain an advantage,,,. to propective funders with more feaible financial instuments. Forensic work.
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Yesterday, 11:58 PMMerchant deposits $4 million a month in sales, and keeps $400-600K running balance. They sell their own software that is a payment system (perhaps better stated as payment rails) to retailers, ecommerce stores, and more. Their bank statements show edeposits froma wide array of clients, like the above. Some health and wellness stores deposit to their account, education centers, digital stores, digital libraries, boutique online stores, and even processing companies are paying them what appears to be royalties or something similar on a consistent basis. Hundreds of deposits per month per statement. Needs a home for first position. Tried all name brand 1st position MCAs (i.e. Kapitus, Rapid, National) and they declined due to industry. Most are declining because they are confusing the merchant as a credit card processing company or credit card processing funder (i.e. Credit card split), and won't look any further. Here's an analogy to describe what they do. Microsoft, Inc designed a software called Microsoft Office, which has a suite of products like Word, Excel, etc. They sell it to Best Buy and Staples and Office Max. Each of those retailers pays Microsoft royalties every time the Office suite is sold off their shelves. That's what this company does. Problem is, funders are confusing the merchant for being Best Buy, not Microsoft. Any funder willing to play ball?
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Yesterday, 11:26 PMEquipment is time consuming.....send it to someone like Tony and he has multiple banks he has relationships with...it's not worth the time to chase it and doesn't pay like MCA...