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  • NotALoan's Avatar
    Today, 05:23 PM
    Barring your near-illegible post, your response doesn't negate anything I said in my post. I wasn't speaking about all these new "funders" (many of which are brokers posing as funders to the merchant), I was speaking about the established, quality funders you actually WANT your merchant to work with.
    10 replies | 592 view(s) | |
  • ADVENTUREFG's Avatar
    Today, 04:55 PM
    1 Year + TIB Guidelines Specialization We specialize in micro funding’s ranging from $5,000.00 to $30,000.00, with a particular affinity for retail, restaurants, medical, and salons. Maximum Funding -$30,000.00, Exceptions may be considered and does not apply to renewals Minimum Revenue -Monthly gross revenue should be at least $8,000.00, with a minimum of one deposit per week. Industry Restrictions -Exclusions apply to law firms, as well as certain segments within micro construction, real estate, and insurance sectors. Buy Factor- Ranging from 1.3499 to 1.379, with a maximum upsell option at 1.499. MINIMUM COMMISSION 12% Maximum Term- Length 140 Days (Weekly Options Available). Defaults- Satisfied only for revenues exceeding $100,000 with established positions. Overdraft Fees- Occur 2-4 times per month. Transportation- Funding’s up to $15,000 70 Business Days - 6-11 Months TIB Guidelines Funding Amount: $3,000.00- $10,000.00 Term: Up To 70 Business Days Monthly: Revenue: $12,000.00 Monthly with a minimum of 1 deposit per week Industry Restrictions: Construction/ Trucking/ Law Firms/ Insurance/ Bonds Etc Industry’s We Accept: Retail/Salons/Medical/ E-Commerce (Processor Based Industries) Defaults: NONE AT ALL Overdraft Fee’s: Per file Basis Buy Rate: 1.399 Max Upsell 1.499
    0 replies | 6 view(s)
  • Olderguy's Avatar
    Today, 03:44 PM
    You could be right as I get all these declined bank files that fail due to that.
    25 replies | 289 view(s) | |
  • Incbiz440's Avatar
    Today, 03:28 PM
    Generally it's not optional if there is sufficient equity in a guarantor's residence (as an example) - it's an SBA requirement, bank or non-bank lender. Whether your clients haven't had sufficient equity in their residences to be required to pledge it, whether the bank requires additional collateral to approve, whether your clients have excess collateral coverage already, or whether you're working on deals under the threshold of that requirement (sub $350k, if I recall correctly) - those are all possibilities as to why you haven't seen that. Banks are welcome to layer on their own requirements on top, but to say as a blanket that only non-bank SBA lenders take personal property as collateral is flatly incorrect, with all respect. Its fairly common.
    25 replies | 289 view(s) | |
  • Olderguy's Avatar
    Today, 03:13 PM
    There's some truth to that but in general banks look at O/O commercial property....and I have received a lot of bank denials that I had done through non bank lenders....confirming it's easier to go through those.
    25 replies | 289 view(s) | |
  • Incbiz440's Avatar
    Today, 03:09 PM
    I'm saying at banks - I'm not sure why you're carving out only non-bank SBA lenders as taking personal property (primarily personal residences). I've personally done that, with SBA loans, that I originated while an employee of a bank.
    25 replies | 289 view(s) | |
  • Olderguy's Avatar
    Today, 03:04 PM
    Right - non bank lenders can do that and I have done it a lot. I thought that was my point here.
    25 replies | 289 view(s) | |
  • Incbiz440's Avatar
    Today, 02:24 PM
    Since when did banks doing SBA loans not use personal collateral? How many people have liens on their residence from a bank SBA deal? Source: Me, who did SBA loans at a bank Edit: Not trying to sound combative, and also yes, if you mean are they taking the title to your personally owned 2004 Chevy Tahoe, no. But only secured by commercial property, no.
    25 replies | 289 view(s) | |
  • sam grossman's Avatar
    Today, 02:05 PM
    i might be able to help out Sam Grossman ISO Relations C . 347-745-0783 O . 860-419-7905 Sam@raptoradvance.com www.raptoradvance.com
    10 replies | 592 view(s) | |
  • FCG's Avatar
    Today, 12:42 PM
    if he did it once, he'll do it again
    10 replies | 592 view(s) | |
  • fundinggrasshopper's Avatar
    Today, 12:16 PM
    Agreed 8+ months unlikely but 50k 5-6 months could easily be secured, IMO you're better off disclosing the situation in full rather than getting a good offer and having them find out in final.
    10 replies | 592 view(s) | |
  • fundinggrasshopper's Avatar
    Today, 12:09 PM
    Looking for Experienced Representatives to join small team at well regarded, high volume NYC-based broker. This opportunity is for someone with experience opening & closing their own deals who is looking to work on a small team of professionals with great resources. We are open to considering the right individual with limited experience. We fund inhouse in addition to our network of funders and have a true network for a variety of bank products. We are always growing our program offerings & use some little known and growing platforms. We invest consistently in different types of fresh high quality leads. With the recent industry trend of the "carrot" deal, I am proud to say that we do not engage in any kind of manipulative or fraudulent business practices EVER - these kinds of sales tactics will not be tolerated. This is an in person 5x a week opportunity with industry competitive pay. Email admin@hudson-avenue.com to inquire. resume review - phone call - in-person interview
    0 replies | 47 view(s)
  • Robinhood21's Avatar
    Today, 11:45 AM
    You're very naďve a lot new funders in this game and dont care anymore they just fund
    10 replies | 592 view(s) | |
  • NotALoan's Avatar
    Today, 11:29 AM
    "Merchant lowered payment over 6 months ago and the lender never asked them to go back on orig. payments. Payments were lowered due to a temporary hardship within the business." It's the merchant's responsibility to reach out to the funder to go back on normal payments, the same way he reached out to them to ask them to lower payments. Other funders are going to see that he is no longer in a "hardship" but has conveniently forgotten to let the lender know they can afford the original payments again. Why would a funder fund someone who is still on lower payments and not fulfilling their original contractual obligation just because they don't feel like it?
    10 replies | 592 view(s) | |
  • NotALoan's Avatar
    Today, 11:24 AM
    "Funded a file With Everest twice over the course of 6 months for 25k both times Both were new deals and not a renewal." These are conflicting statements. You said you funded one file twice, then said "both" were new deals, meaning there were two files. So did one pay in full, and was that the one Everest reached out to?
    18 replies | 1969 view(s) | |
  • closer129's Avatar
    Today, 10:21 AM
    I been around the industry for around 12 years or so and never heard of surfside. I have heard of westwood calling the merchant behind the brokers back before. I hate that beccuase me and my company would never do that in a million years to good brokers and it makes it harder for me to sign up good brokers. If you need a honest funder with great programs feel free to reach out to me. Scott Platto scott@tmrnow.com tmrnow.com 212-220-9872
    4 replies | 430 view(s) | |
  • TheUnderwriter's Avatar
    Today, 09:21 AM
    dudes a POS and Westwood as a Company is a POS including their CEO who is an ex con . POS company from the top down.
    4 replies | 430 view(s) | |
  • Kevin Henry-Seacoast's Avatar
    Today, 08:48 AM
    Correct. If the terms with the end customer are N60, N90, and even N120 we can certainly accommodate for the right customers and a timely recourse period post term date. The reason some non-bank factors cannot go past N90 is because of the limitations within their credit policy and line with THEIR lender. Some lenders that lend to or re-factor other factors do not allow them to go past 90 day recourse regardless of terms with end customers.
    11 replies | 179 view(s) | |
  • abfunders's Avatar
    Today, 08:36 AM
    To add to what Kevin said, there are 1 or 2 banks that can go out to 120 days. However, I haven't found anyone that will buy invoices that are already aged more than 60 days to get the line started.
    11 replies | 179 view(s) | |
  • Kevin Henry-Seacoast's Avatar
    Today, 05:08 AM
    Just FYI...any factoring A/R that is over 90 days goes back to the merchant to collect.[/QUOTE Not in all cases. It depends on the terms of recourse and if it's a recourse or non-recourse deal. If it's non-recourse the factor owns the invoice and the risk is on the factor. Recourse: If the terms of recourse are 60 days past due date the invoices can go past 90 days to the terms. If they do extend past terms the invoice is sold back to the company or replaced with another invoice. If a % of all invoices with the end customer go past recourse date-all invoices may become ineligible.
    11 replies | 179 view(s) | |
  • Kevin Henry-Seacoast's Avatar
    Today, 04:41 AM
    Yes-Non-Banks can be more flexible and sometimes faster than traditional banks, but not in all cased. Most of the top non-bank SBA lenders are NOT depository institution, but borrow money FROM traditional banks. Most of the top non-bank SBA lenders in the US borrow money from large banks nd super regional banks. Same guys for other NON-BANK finance companies like factors. They also borrow money from bank. That being said, non-banks have rules too......
    25 replies | 289 view(s) | |
  • LeadGirl's Avatar
    Today, 12:30 AM
    Hi There- I have been providing quality MCA leads to many brokers in the industry. I’m quite knowledgeable and can assist you with how to market the data. Yes… there are good MCA leads out there for the sceptics. I have many repeat buyers who purchase weekly and are growing their companies all the way to the bank! Good leads make the world of difference. Call me and I’ll show you. mpappas@kloverdata.com (954) 827-4511
    6 replies | 755 view(s) | |
  • LeadGirl's Avatar
    Today, 12:05 AM
    Let’s meet in person since you have a lot of invalid things to say. I’d love to meet you! Call me �� (954) 817-4511
    24 replies | 7555 view(s) | |
  • LeadGirl's Avatar
    Today, 12:03 AM
    I don’t know who you are friend, but it’s those who don’t know how to convert data are the ones who complain. Landfall Media acquired a new publishing company in April 2024. With growth, came rebrand, and we birthed the name Klover Data. Show me any data company going strong for over 18 years in the business, and I’ll give you Free leads for life. Those others you say who called us Landfill, I beg to differ. Tell them to call me and I’ll show them how good my leads are. I am proud to be a partner at Klover Data! Any one who has worked with me, or knows me personally, will speak of my stellar customer service and my reputation. mpappas@kloverdata.com (954) 817-4511
    24 replies | 7555 view(s) | |
  • LeadGirl's Avatar
    Yesterday, 11:55 PM
    I appreciate that!!! ��
    24 replies | 7555 view(s) | |
  • Olderguy's Avatar
    Yesterday, 08:54 PM
    Here is some more information that may help you understand SBA loans and options: SBA banks vs. non bank SBA lenders I'd like to highlight some differences in SBA loans and lenders. Most of you have experience with SBA banks. However you should start looking into non-bank lenders for your SBA loans. Non bank SBA lenders are more flexible in their underwriting. Non-Bank Lenders An SBA non-bank lender is a financial institution that does not accept customer deposits. Their sole reason for existing is to lend money to eligible small businesses in their community. On the other hand, a bank is a financial institution that solicits monetary deposits from their customers and in turn loans these funds to other customers such as individuals and businesses seeking capital for a variety of reasons including starting or expanding a business. Banks solicit deposits from their customers for two reasons: Number one to meet the Federal Reserve’s capital reserve requirements to ensure satisfactory liquidity levels and number two because deposited funds in a demand deposit account, or what is commonly referred to as a checking account, are the lowest cost of funds. Government Regulation Due to increased government regulatory oversight it is typically more difficult to qualify for a small business loan from a traditional bank than it is from an SBA non-bank lender. Therefore, seeking capital from an SBA non-bank lender may be to your advantage due to the fact that non-bank lenders typically possess less stringent underwriting guidelines and do not require you to move your deposit relationship to them; which is time consuming and sometimes undesirable if you particularly like your depository institution. A non bank SBA lender will allow you to collateralize business and personal assets. A SBA bank will need to collateralize commercial property. Some examples I've seen and done. I got a guy in Hawaii $350,000 SBA 7A putting a third UCC on his primary residence for collateral as he leased his office and warehouse. I saw a company get a $2M SBA loan collateralizing all of their $10M equipment in Brazil. Typically a SBA bank might require 3 years management experience in buying a business where I've seen a non bank lender require only one year experience. I have approvals require collateralize all of a clients vehicles. I was able to go back to the credit committee/underwriting and have them release the requirement for liens on the vehicles and maintain the same approval. I have done a lot of these loans and many brokers have reached out to me with their frustration doing SBA loans. Yes you do need to do some financial analysis when reviewing the package. And it helps to have the merchant connect you with their accountant or bookkeeper for documentation needed.
    25 replies | 289 view(s) | |
  • Collinscash's Avatar
    Yesterday, 08:24 PM
    Hey everyone! Is your client running a fitness business and in need of funding to expand, renovate, or upgrade equipment? Look no further! Smart Business Funding is here to help you achieve your business goals with ease. Why Choose Smart Business Funding? Fast Approvals: Get their funding approved quickly and efficiently. Flexible Terms: Tailored solutions that fit their specific business needs. High Approval Amounts: We can approve up to $5M, providing the financial boost their business needs to thrive. Personalized Support: Our team of experts is here to guide them through every step of the process. How Can Smart Business Funding Help Your Fitness Business? Whether your client need to purchase new fitness equipment, renovate the facility, or expand their services, Smart Business Funding offers the financial support to make it happen. We understand the unique challenges and opportunities in the fitness industry and are committed to helping them succeed. Get Started Today! Don't let financial constraints hold your client's fitness business back. Contact Smart Business Funding today and discover how we can support their growth and success. Feel free to reach out with any questions or to start the application process. We look forward to helping their business reach new heights! 20515 NE 22ND AVE MIAMI FL 33180 1-866-Re-Smart (1-866-73-76278) 347-402-1650 info@smartbusinessfunder.com
    0 replies | 34 view(s)
  • Zonefund's Avatar
    Yesterday, 07:59 PM
    All his deals are white labeled via newco. I think he syndicates too?
    4 replies | 430 view(s) | |
  • Olderguy's Avatar
    Yesterday, 07:54 PM
    You are so very much mis-informed. Hybrid loans that we offered as a direct lender were a cross combination of a term loan and had nothing to do with Kevin. I am here to help brokers and merchants look for alternative financing away from MCA high cost product as many who have reached out to me have learned. Lastly, if you can't figure out how to gently be kind, figure out how to kindly be quiet.
    25 replies | 289 view(s) | |
  • diditevenfund's Avatar
    Yesterday, 07:36 PM
    This the same Levi that was with Pearl back in the day? Guys a punk, all 5 foot 5 of him.
    4 replies | 430 view(s) | |
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