Activity Stream
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Older Activity
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Today, 03:57 PMI'm looking for a company that would be willing to use a residential property as collateral for a business loan. I'm currently onboard with TVT and WBL. I want to add a couple others that can bridge some of the gaps between these companies. WBL's rates are too high right now and TVT has good rates but not the best approvals and they strongly prefer to use commercial properties.
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Today, 03:54 PMSo they definitely used to be a broker, and yes they definitely used to white-label Yellowstone for their high-risk deals. However, I think that most funders at some point or another also used to be brokers, and most funders still have brokers working for them, whether or not it's a different operation or not is a different issue at hand ("gesheft").
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Today, 03:40 PMUpdate! i was able to find an investor that will do the deal. I do appreciate all the help and guidance i received. Thank You for all the info.
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Today, 03:37 PMThey're a broker. Used to submit to us. Nothing shady happened though.
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Today, 03:34 PMpcfunder replied to a thread This feed is always way too serious. What funny stuff do you guys do at work? in Merchant Cash Advanceone time my coworker asked me if he could borrow my pen and I said "hey man yes you can but unfortunately for YOU that will be 100 dollars and I only take cold hard cash so you better start putting some cash in a bucket of water and put that bucket of water in the freezer because I like my cash cold! and I like my cash ice hard! and I expect that 100 dollars to be in my pocket by 5pm today because after all you did borrow my pen today am I right or am I right?!"
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Today, 03:33 PMTheUnderwriter replied to a thread REALTIME Reconciliations with FundKite - How we do it. in Merchant Cash Advance**Jeopardy Music playing**
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Today, 03:16 PMbrokerCompany replied to a thread What are the most important things to know about personal finance? in Everything elseSpend less than you earn. Invest in long term index and real estate. Dont wait to invest Its actually simple I made millions in RE by doing this. So much free information and books available
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Today, 03:05 PMSendDocsPlox replied to a thread This feed is always way too serious. What funny stuff do you guys do at work? in Merchant Cash AdvanceUpperdecker the toilets in the office bathroom upstairs
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Today, 02:58 PMIf they're rented out and cash-flowing (net, not gross) at $7000/month minimum, there's a way to squeeze out without a refi. I don't have your email address, so please email me.
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Today, 02:55 PMLee...just might mention the 2 properties have a blanket lien and I couldn't do them as not enough equity together....I could do one property if the blanket lien holder would release just the one property but they wouldn't.
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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