Activity Stream
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Older Activity
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03-05-2024, 01:06 PMhttps://ag.ny.gov/press-release/2024/attorney-general-james-sues-large-scale-predatory-lending-operation-targeting Thoughts?
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03-01-2024, 11:13 AMLooking 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
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02-27-2024, 08:34 AMI am looking for a couple of lenders that funds quickly and pays commissions quickly. I have a couple of things coming in. Email me: info@NovaLendingSolutions Thanks.
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03-20-2024, 06:26 PMJustInCase started a thread Referred Bank LOCs w/PSF, Is this a shady practice or completely legit? in Merchant Cash AdvanceI 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.
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02-27-2024, 03:37 PMHello everyone first post here Looking to sign up iso's with good history in the industry must have a few reference's to vouch for you Currently funding all industries except for trucking Not funding CA or UTAH Minimum revenue 50k a month Terms 70-140 days Time for approval under 10 minutes Let's hop on a call 347-946-8768 submissions@enodfunding.com
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03-25-2024, 02:33 PMWho does not require a personal guarantee or would make an exception on a deal by deal basis.
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03-06-2024, 06:39 PMAs 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
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03-20-2024, 02:09 PMI 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
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03-12-2024, 04:47 PMLooking 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
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03-21-2024, 09:24 PMAnyone know of Funders who fund merchants with bad background?
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02-27-2024, 04:16 PMwho will fund previous defaults text me at 646 202 0095 or anthony@simonsaysfunding.com
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03-14-2024, 06:15 PMHi, 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.
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03-07-2024, 07:18 PMHave 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)
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03-05-2024, 11:40 AMTo 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!
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03-06-2024, 09:05 PMHello, 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
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03-05-2024, 04:49 PMOpen 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.
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03-22-2024, 11:12 AMwhich funders?
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03-22-2024, 04:11 PMLiterally 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.
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02-27-2024, 11:58 AMWho funds files like this
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03-06-2024, 04:09 PMI 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
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03-13-2024, 02:44 PMConstruction , 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
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03-14-2024, 04:54 PMFBI 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
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03-24-2024, 06:01 PMhttps://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?
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02-27-2024, 05:46 PMI know this is a bad word in this industry, but I got a potential file, does anyone know if any lenders would fund this. 120k avg deposit, very good balances 60k+ per day. 700+ credit, TIB is only 8mo though. Needs working capital as a bridge to SBA. Thank you
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03-15-2024, 11:21 AMRichie 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.....
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03-04-2024, 10:42 PMIs 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.
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03-20-2024, 05:14 PMMerchant 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?
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03-12-2024, 04:47 PMThorCapitalGroup started a thread Attention Funders - Stay Away from the ISO Signature James Inc in Merchant Cash AdvanceJust like the title says... stay far away.