Activity Stream - DailyFunder Forums
Need a Funder or Vendor? START HERE

Activity Stream

All times are GMT -4. The time now is 08:12 AM.
Filter
Sort By Time Show
Recent Recent Popular Popular Anytime Anytime Last 24 Hours Last 24 Hours Last 7 Days Last 7 Days Last 30 Days Last 30 Days All All Photos Photos Forum Forums Articles Articles Blog Blogs
  • MiamiFunder's Avatar
    Today, 07:53 AM
    Depends on the bank, Wire is recommended , even if it goes in review , approval process is within minutes or hours. If its ACH once the review process misses the daily cutoff time . It will be postponed another business day Sam Subs@pathwayfunding.com
    1 replies | 221 view(s) | |
  • Hedley Lamarr's Avatar
    Today, 06:40 AM
    Huntington National Bank Live Oak Bank
    2 replies | 95 view(s) | |
  • Olderguy's Avatar
    Today, 01:14 AM
    Try hard money before you try Ironwood or WBL...Better loan options for your merchant. Ironwood and WBL are just MCA funds secured by real estate. Hard money property loans are like A paper. 10.99% year interest only at 1% a month... monthy payments
    1 replies | 122 view(s) | |
  • Olderguy's Avatar
    Yesterday, 07:59 PM
    Too many options with too little information Your posting is like asking "how high is uip". You need to reach out so we can determine what kind loan this merchant might qualify. Is it NoDoc, DSCR, Full Docs or what? Cash out refi, purchase, rehab or what? Or do they need a working capital loan? If it's a basic hard money property loan, I have been doing a lot of them.....have several lenders I use. Some are blanket loans covering all properties with one loan. Some require loan on each property. You can finance investment property - residential 1 - 4 units, more than 4 units, mixed use properties, land, commercial property, agriculture, etc. One has no Fico requirements. Can get up to 75% Loan to Value cash out on these programs. If Fico below 650, LTV goes down. Here are your options: Bridge loan - 24 months Interest Only - runs around 11%. Can have no prepayment penalty up to 6 months to a year depending on the lender. 10 year interest only, amortized 20 after. This program has a bit of a lower rate and is good for rental properties as it offers the lowest payment. However, it does have a 5.4.3.2.1 prepayment penalty. Thats 5% first year, 4% second year, etc. You can buy down the prepay to 3 years for 1% cost. To 1 year at a 5% cost. AGain there are variations. 30 year fixed.....this is for long term fixed and the rate is the lowest of the two above. It also has the 5,4,3,2,1 prepayment penalty. These loans are NoDoc (no income documentation) or SISA (Stated income stated assets) You can also do a dscr on 1 - 4 units and the rates gets into the 8% range. Reach out with questions or help.
    2 replies | 95 view(s) | |
  • Mexican Funding's Avatar
    Yesterday, 07:37 PM
    Hey guys I had an offer with Lendini which fell through here for $75k 9 months at 36 weeks - Are there any funders out there that would fund a 2nd position Mortgage Broker in Upstate New York for $75k 6-7 months? Please let me know if you think of something !
    0 replies | 150 view(s)
  • DonMcGrath's Avatar
    Yesterday, 06:09 PM
    DonMcGrath replied to a thread Mca data & text list in Promotions
    Me no dummy!!!
    5 replies | 1140 view(s) | |
  • Loading's Avatar
    Yesterday, 06:01 PM
    Property Value 16mm California Owner Operated Lmk what details you need
    2 replies | 95 view(s)
  • FunderFunding's Avatar
    Yesterday, 05:31 PM
    Gianna.Simmers@lendini.com
    2 replies | 1076 view(s) | |
  • MF1's Avatar
    Yesterday, 04:21 PM
    Mike, What is the name of your company? We will have someone call you.
    2 replies | 1076 view(s) | |
  • Mexican Funding's Avatar
    Yesterday, 03:34 PM
    Hey guys ! Can you please send me a good Ironwood Contact?
    1 replies | 122 view(s)
  • David6ix's Avatar
    Yesterday, 03:19 PM
    Wow!! Thats crazy. He tried to pull this exact scam on us. When I got docs signed I happened to call the merchant using the phone number that I pulled on background report NOT the number the broker gave me because i couldnt find the number in the doc request. When the merchant answered he had no idea what was going on because he never signed any contracts. At the time I couldnt figure out David's angle but now this makes so much sense. At one point the merchant applied with FC, so the scammer has a fake email domain very similar to FC and email blasts tons of merchants. He's bound to email someone that worked with FC at one point, and now he can just "reopen" their file.
    9 replies | 1577 view(s) | |
  • FundingCaptain's Avatar
    Yesterday, 03:11 PM
    So in February he sent in a file (David Rossi) and the merchant had gotten funded a few days prior as per bank login the day we went to fund. we declined the file and David was upset... then the merchant calls us and says he never applied and never heard of David Rossi or his company! The merchant thanked us for declining the deal and was investigating him. David all the while maintained his innocence and swore up and down its a massive mistake... Ive never seen a file from him again and in light of this supporting claims, i sent him a termination email
    9 replies | 1577 view(s) | |
  • diditevenfund's Avatar
    Yesterday, 03:09 PM
    diditevenfund replied to a thread Snap Finance in Everything else
    This industry is getting absolutely HAMMERED over this BS. Was tough enough to overcome jaded merchants who got sick of fast talking donks calling them, now they are being outright scammed.
    1 replies | 84 view(s) | |
  • matty1234's Avatar
    Yesterday, 02:26 PM
    N/A
    0 replies | 341 view(s)
  • matty1234's Avatar
    Yesterday, 02:19 PM
    matty1234 started a thread Snap Finance in Everything else
    N/A
    1 replies | 84 view(s)
  • simonwein12's Avatar
    Yesterday, 01:43 PM
    Spoke to multiple people This scammer has been using the Funding Circle name, and somehow getting their clients information to pull this scheme for many years now. Its obvious that there is some sort of leak/mole and FC simply doesn't care and has no intent to do anything about it. I would advise anyone who cares about working with honest people to AVOID funding circle.
    9 replies | 1577 view(s) | |
  • Bcooper's Avatar
    Yesterday, 11:47 AM
    Bcooper replied to a thread Under 600 fico in Deal Bin
    there are a handful of banks that do not use the fico model, we work with most of them, we use go off a delinquency model.
    10 replies | 486 view(s) | |
  • Bcooper's Avatar
    Yesterday, 11:42 AM
    Bcooper replied to a thread Under 600 fico in Deal Bin
    Dont believe me send me a deal, had a 5m approval on a 550 a few months back. All approvals are of course issued by the bank not my firm.
    10 replies | 486 view(s) | |
  • kpeng's Avatar
    Yesterday, 11:35 AM
    Funders.
    2 replies | 250 view(s) | |
  • closer129's Avatar
    Yesterday, 11:29 AM
    Hey Zed I fund car dealerships. I need tax returns on submissions for the true revenue. Scott Platto scott@tmrnow.com tmrnow.com 212-220-9872
    2 replies | 250 view(s) | |
  • Midwest Financial's Avatar
    Yesterday, 11:25 AM
    Lenders only please. Thank you, Zek Domgjoni Head Processor Midwest Financial Partners (248) 247-3400 | 586 604 7054 fax: (248) 282-8854 zek@callmfp.com https://www.callmfp.com/ 7031 Orchard Lake Rd, Ste 202, West Bloomfield, MI 48322
    2 replies | 250 view(s)
  • Robinhood21's Avatar
    Yesterday, 10:55 AM
    hi anyone fund in American Samoa here?
    0 replies | 254 view(s)
  • MattNBC's Avatar
    Yesterday, 10:42 AM
    This is for anyone who may be looking for a strong partner to partner with on file. I've got 10 years in the alternative lending space and my company has been around 16 years so we have the infrastructure and partnerships already in place. We have access to SBA, attorney litigation financing, equipment financing, term loans, lines of credit and cash advances. We offer referral fees as well so if you have a deal you are looking to place and want to work together let's discuss a potential partnership. It can be as simple as you sending over a name and phone number or you can be involved step by step in the deal, it's your call. Matthew Auletta National Business Capital Mauletta@national.biz 631-371-0949
    0 replies | 50 view(s)
  • Collection Specialist's Avatar
    Yesterday, 10:31 AM
    Hello Daily Funders My name is Mitch Levy. Some of you may already know me, some may not. I have been working in the MCA collections space for the last 11 years working defaults from the early pre-legal stages through the litigation process and subsequent enforcement of judgments and UCC's. I work with one of the preeminent attorneys in the MCA world and we are looking to expand. He and I do things the right way; we do not bend the rules nor do we take chances that subvert the rule of law or place/create any negative focus or implications. That may not work for some funders who as we know, like to take chances that contravene the legal requirements necessary to be successful and sustain. In this day and age and with the landscape such as it is, it is an even more sound business model. What we wish for is to connect with like-minded funders who want not only success which we bring daily, but doing so the right way. Those we work with now are a perfect example of the right type of funders in the MCA world and that is who we are interested in getting to know more of. I am keenly aware that there are a myriad of collection teams promoting themselves here and elsewhere. Like them, I will also tout our skills and ability to get the job done. The difference, which I can offer and (most) others cannot, is a decade long track record of zero issues and supreme success backed by empirical data. If there is anyone here who would have interest in learning what we do differently and why it is so successful, I am happy to have that conversation and would certainly welcome it. We are very good at what we do, and would like the opportunity to work with anyone who may need help with their recoveries, and who would share our mindset on how that can and should actually be accomplished. For those who do, you are welcome to message me or call me directly at the number below Thank you. Mitchell Levy Tel-877-669-7943
    0 replies | 29 view(s)
  • abfunders's Avatar
    Yesterday, 10:28 AM
    Funders App is 24 Capital, that we know. However, I just came across a file in the courts that confused me. It was what looked like a good deal, but they only gave 16 week deal at 1.49. The client wanted reconciliation and the funder didn't want to grant it, so there was some sort of argument and the funder filed. There's what appears to be a true fight happening in the court system, the lawyers of the merchant are countersuing. The lawsuit is filed by Funders App DBA Capifi Funding. The contracts say "Capifi" but they also have GMFunding as a logo on the top. ACH pulls as Capifi. What's going on with that?
    0 replies | 369 view(s)
  • diditevenfund's Avatar
    Yesterday, 10:26 AM
    diditevenfund replied to a thread Under 600 fico in Deal Bin
    since when are 500-600 FICO merchants able to get SBA loans?
    10 replies | 486 view(s) | |
  • dave.kirk@vericheck.com's Avatar
    Yesterday, 10:13 AM
    Are you using ACH to do Same Day Funding? Whereas the more conventional way to do MCA funding was from the use of wires, there has been so much necessary automation added to the industry, that more and more funders are using ACH not just pay their syndicate partners but also to fund deals. Are you doing it? If not, is there a reason? And, if so, is there a reason? Some reasons seem to be logical enough especially if an MCA funder is using a CRM with an integration to an API who is funding multiple deals in a day. Everything being done from the convenience of a dashboard is a good reason. The automation saves so time. And the ACH transactions save a ton of cost. But, it an MCA is funding only one or two deals a day is there really a benefit. Why am I asking? Some people can be helped by a new feature, others cannot for whatever reason. Dave Kirk ACHWorks 201-247-1033
    1 replies | 221 view(s)
  • alexandra23's Avatar
    Yesterday, 10:13 AM
    alexandra23 replied to a thread Under 600 fico in Deal Bin
    forsure can take a look here alexa@americanchoicecapital.com
    10 replies | 486 view(s) | |
  • MenachemR's Avatar
    Yesterday, 10:01 AM
    MenachemR replied to a thread Under 600 fico in Deal Bin
    Depends on the what the rest of the file looks like, but we may be able to help here.
    10 replies | 486 view(s) | |
  • FunderFunding's Avatar
    Yesterday, 10:00 AM
    FunderFunding replied to a thread Under 600 fico in Deal Bin
    You can get a client funded with and SBA with a 590 ???? LMFAOOO
    10 replies | 486 view(s) | |
More Activity


INDUSTRY ANNOUNCEMENTS

ABL performed well in Q4
Parafin lands $125M
Peter Ribeiro to speak at Broker Fair


DIRECTORY