Activity Stream
All times are GMT -4. The time now is 02:47 PM.
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Older Activity
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Today, 02:35 PMThank you!!
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Today, 02:17 PMIndeed u guys have a good product man
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Today, 02:15 PMClient looking for 300k for 6 months to pay back 400k , there's property to secure the funding, financials are great, revenue yearly is 2 million. Client will not entertain any type of MCA. I appreciate any help i can get. Thank You
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Today, 02:04 PMTrue. But not limited to 90 day EPA like most of our space. Can payoff essentially any week.
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Today, 02:02 PMYankeeman07 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 BinIf this is accurate ( CS is 730-750) the amount requested may have been to low for a SBA&(a). If the file is crystal clean, take a look at Credit Bench - BayFirst National Bank in St. Pete, Florida. They had a product they called Bolt Express - up to $150K -
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Today, 01:51 PM1.15 90 day epa This is good
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Today, 01:48 PMZonefund replied to a thread REALTIME Reconciliations with FundKite - How we do it. in Merchant Cash AdvancePlz respond bro
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Today, 01:46 PM100K 1.32 32 weeks, 995 total origination fees Program breaks down as 1% per week cost of advance, merchant can payoff any week. Cost of advance depends on which week merchant pays off (if they ever decide to, some don't get around to it). They can hold funds until the capped 32 weeks. At the time of payoff, has to pay a 3% closing fee (3000$). Can be compared to a prepayment penalty. So at week 12, total advance cost was 12% + $3000 closing cost. Closing fee of 3% allows broker to get paid a higher commission upfront - essentially 100% of the closing cost is paid to the broker. We have many accounts who payoff their account within 5-10 weeks, aiming to pay single digits, as they can open a new account the very next day after payoff. In other words, they open up to 10 accounts per year, using the program similar to a line of credit. Let me know if I can further explain
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Today, 01:31 PMI 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 PMI 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 AMFrom 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!