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  • SendDocsPlox's Avatar
    03-05-2024, 01:06 PM
    https://ag.ny.gov/press-release/2024/attorney-general-james-sues-large-scale-predatory-lending-operation-targeting Thoughts?
    51 replies | 100457 view(s)
  • Richr7az's Avatar
    03-01-2024, 11:13 AM
    Looking For a MCA funder with an aggressive early pay discount. CA based jewelry manufacturer doing approximately $250k/mth in revenues, looking for a $40k MCA behind a $53k Shopify Loan and a $27k Paypal loan. Company also has a $480k SBA Loan and a $90k Bank LOC in place. Company will most likely payoff this MCA within 30-45 days - the primary reason for an aggressive early pay discount. Full submission package ready to go Let me know if you can fund this Rich Rose Rich@rainstarcapitalgroup.com 602 309-1007
    18 replies | 8619 view(s)
  • JustInCase's Avatar
    03-20-2024, 06:26 PM
    I called an ISO shop today about becoming an independent referral partner they constantly post traditional this, that and everything on fb. They have a lot of great google reviews regarding their traditional "banking" services and also do a lot of MCA they say. Anyway, I asked about the bank line of credit and was told they have friends in banking positions they refer qualified merchants to letting them keep whatever fees they make originating the lines through bank for themselves while the ISO is charging another 10% of total line off the line itself when funded by way of ACH/PSF. Is this legit? Might be idk. Is it legit as well to be charging PSFs for regulated bank related products without a license etc? It was out of the box to me just trying to see if legitimate in general.
    21 replies | 6765 view(s)
  • freeprocessing's Avatar
    03-25-2024, 02:33 PM
    Who does not require a personal guarantee or would make an exception on a deal by deal basis.
    20 replies | 875 view(s)
  • Mexican Funding's Avatar
    03-20-2024, 02:09 PM
    I have an offer from LENDR for 12 months right now but they are requesting a green card p- Who can assist with this file ? Pizzeria in California does $65k per month My offer with Lendr is $40k 12 months
    14 replies | 1038 view(s)
  • Johndough's Avatar
    03-06-2024, 06:39 PM
    As a write this a buddy of mine just got turned down by metropolitan when he told them that he planned on using the account to FUND
    10 replies | 1708 view(s)
  • Friendly funder's Avatar
    03-12-2024, 04:47 PM
    Looking for a good B-C fuder? Theese guys have done great stuff for me Pathway funding - Subs@pathwayfunding.com 80-120 days SUPER QUICK SUB TO FUND LESS THAN 2 HOURS
    12 replies | 1761 view(s)
  • Robinhood21's Avatar
    03-21-2024, 09:24 PM
    Anyone know of Funders who fund merchants with bad background?
    12 replies | 1139 view(s)
  • skideeppow's Avatar
    03-14-2024, 06:15 PM
    skideeppow started a thread Consolodation in Deal Bin
    Hi, I have a merchant took around $350k in advances, balances are close to $200k. he is making weekly payments of around $14k, banks are ok. He wants to consolidate to try and get his payments lower. I have been funding this merchant for over 15 years, and I syndicate or do 100% of the funding myself. He has no real estate to leverage. Let me know if you have any suggestions.
    8 replies | 1412 view(s)
  • Robinhood21's Avatar
    03-07-2024, 07:18 PM
    Have a construction merchant making 800k- to 1 mil a month good daily ending balances over 7 years TIB can't seem to get a decent over $150,000 best offer i have is $150,000 1.23 12 months who can assist here (someone reputable)
    9 replies | 1416 view(s)
  • guap's Avatar
    03-05-2024, 11:40 AM
    To all my experience folks out there. If you were starting fresh today with no contacts how would you get started? What daily actions would you take to see your pipeline full in say the next 60-90 days? Thanks!
    10 replies | 1041 view(s)
  • FunderBill's Avatar
    03-06-2024, 09:05 PM
    Hello, Does anyone have any good recommendations for A paper lenders that work with newer companies that also fund first position with flexible terms. Any suggestions are appreciated. Thank you
    7 replies | 1590 view(s)
  • Incbiz440's Avatar
    03-05-2024, 04:49 PM
    Open ended question - for your mid-risk clients, what non-bank lenders offer terms or LOCs with monthly payment options? As someone relatively new to brokering but not business lending, this seems to be the gap I'm having the hardest time filling. *And with an ISO program that is reasonably interested in working with independents or small shops.
    8 replies | 1379 view(s)
  • Funds4u's Avatar
    03-22-2024, 11:12 AM
    which funders?
    10 replies | 531 view(s)
  • Mynameisbob's Avatar
    03-22-2024, 04:11 PM
    Literally I sent 2 deals to test out, and I start getting hit up by Dynamic Capital. I only sent them the file and put my number on the app. Mind you I''ve funded deals with them before in the past. I think Jay is a good guy but they definitely have a leak in there. this has happend more than once.Hopefully they clean that up because i actually consider them to be a decent funder.
    8 replies | 1059 view(s)
  • vloforti's Avatar
    03-13-2024, 02:44 PM
    Construction , 40k monthly average rev except feb was 20K average of 4-5 deposits per month adb around $1500 2 years tib Has a signed contract from the city for a 1.5 mil project
    6 replies | 1191 view(s)
  • Shorebird's Avatar
    03-14-2024, 04:54 PM
    FBI raided home of Albany loan broker Roglieri a second time. https://www.timesunion.com/business/article/fbi-raided-home-albany-loan-broker-roglieri-19009724.php
    4 replies | 1579 view(s)
  • MissouriBroker1's Avatar
    03-06-2024, 04:09 PM
    I have a client who owns three restaurants and a bar that are producing $175,000 in monthly revenues. She got talked into taking on 5 MCA's that total just over $500,000 with weekly payments of $24,000! She is making the payments but it is obviously affecting her bottom line. She is looking for a term loan or similar product to take out these MCA's. Time in business is 9+ years and she has a FICO of 683. She is not interested in a consolidation MCA-type product. A 5 year term loan at 10% would drop her monthly payment from $104,000 to $10,623. Tom Harrier Integrity Commercial Loans, LLC 407-928-8542 broker@tomharrier.net
    8 replies | 979 view(s)
  • diditevenfund's Avatar
    03-24-2024, 06:01 PM
    https://debanked.com/2024/03/new-york-state-bill-aims-to-recharacterize-factoring-leasing-revenue-based-financing-and-more/ What are people's thoughts on this? What direction are we really headed?
    9 replies | 875 view(s)
  • Back Pocket Funder's Avatar
    03-15-2024, 11:21 AM
    Richie from bay advance is another one (or whatever your name is and what company you work for) Guys educate your merchants since this needs to come to an end. Real hard working Americans are losing businesses and getting screwed because greedy cowards are too soft to actually sell the product. We lose money from this so don't forget to tell all of your clients about these scams that are getting pitched to literally everyone. See attached.....
    5 replies | 1228 view(s)
  • whiterabbit's Avatar
    03-04-2024, 10:42 PM
    Is Knight still funding? I heard a rumor that they were only funding through their SBA portal Ready Capital direct and are no longer offering an MCA product. Is anyone funding deals with them still or heard anything? thanks.
    6 replies | 991 view(s)
  • vloforti's Avatar
    03-20-2024, 05:14 PM
    Merchant is looking for 150K + term loan or LOC Has existing MCA with Lendr with 78K remaining. WILL NOT EVEN CONSIDER ANOTHER MCA 200K+ Monthly revenue. No NSF's and good ADB's 4 years time in business Does anyone have a LENDER in mind that might be willing to entertain this?
    7 replies | 733 view(s)
  • ThorCapitalGroup's Avatar
    03-12-2024, 04:47 PM
    Just like the title says... stay far away.
    4 replies | 1273 view(s)
  • FIRST PATH CAPITAL's Avatar
    03-06-2024, 02:22 PM
    Who does normal terms and rates on trucking for 1st, 2nd pos aside from samson, fintap, lg, rapid, wall?
    5 replies | 1072 view(s)
  • KingCapBoom's Avatar
    03-18-2024, 03:25 PM
    I have a borrower looking for a 2nd lien position on a motel in Washington state. As is vale $3m, 1st lien balance $700k fico 600 looking for $250-$300k bridge. Point me in the right direction please
    7 replies | 644 view(s)
  • JustInCase's Avatar
    03-19-2024, 06:05 PM
    You don't have to be brilliant, rich, beautiful or perfect. You just have to care.
    6 replies | 839 view(s)
  • itsjo's Avatar
    03-25-2024, 10:52 AM
    Mca consolidation loan lender??
    6 replies | 739 view(s)
  • DiamondCapitalFunding's Avatar
    03-20-2024, 07:12 PM
    Hey Guys, This is Thomas Chillemi - owner of Harvest Lending an ISO ...... I never updated my name or made a new one so it's still my old Diamond Capital Funding* my ISO Name before I moved office to NJ. I am not a lead seller, I have never sold leads, there is no other Thomas Chillemi (in my opinion) - I have been very vocal for a long time that I think any one who BUYS or SELLS *Backdoor packages* is a total loser. Those brokers suck, they're losers, drug addict moron garbage bozos and they never ever ever steal deals from me they only work to make me embarrassed when told on day 2 the merchant is getting all these calls. They suck. I believe whoever this is that is running "peach tree" is using the name "Thomas Chillemi" for multiple reasons - to attack my character, try to attach me to their likely illegal operation, to try and feed off of my name and reputation for unsuspecting victims, etc. Regardless, it is not me. I would never and have never sold leads - I have owned my own ISO for 8 years. I love this industry, I love sales - I think there's more than enough business for all of the good actors and hopefully the bad actors will get caught and weeded out. All of this is under the assumption that there is not intact another "Thomas Chillemi" if there is, I'd like to meet him - I do not believe there is one.....but if he really does have the same name as me - it is NOT me, and I should apologize for replying to one of the emails "yes I need leads" and then wrote "see attached lead order" - and attached several images of myself naked to make the imposter wish he was me even more. If he is real, idk why they won't verify when anyone calls them......probably total fake - don't but ANYTHING from a Thomas Chilllemi, or you can call me directly. 347 831 7014 CEO - Harvest Lending Inc (ISO)
    6 replies | 1038 view(s)
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