Who is the best MCA after bluevine?
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Who is the best MCA after bluevine?
Blue isn't an MCA provider they offer LOC and now term loans. So try that questions again. Also no one is the best that's subjective use your head.
It only needs not be an MCA because their rates are legally under the usury laws. Although there is a PG, which "officially" an MCA doesn't have.
But I agree with Gables. "Best" is very subjective... and also from whose point of view? Merchant or Broker?
Their rates are excellent, they have a very simple online checkout process that requires virtually no documentation (usually just a void check), and they are willing to fund industries that most of the typical A lenders shy way from (i.e. trucking and construction)
The one big downside they have is that they only pay out commissions monthly, so if you close something at the beginning of February, you wouldnt get paid until mid March.
Bluevine in league of its own! Great CEO! -- i would not be surprised if they start acquiring some other funding related A paper kind of establishments either leasing or Brex like companies. . (that's just my gutt feeling -- ive been wrong before).
bluevine maxes out at 100k, and in 90% of cases that's 40k or less.
how are the great in any other way other than cheap rates?
huh i funded 200k this week and had 250k approvals . 100k is max for without asking for a million stips
I get very few approvals, and when i get the rare approval it is such a small amount, that it does the merchant no good.
I dont understand how everyone has such success with them.
my experience with Bluevine is to expect half of the approval amount you were expecting.
Bluevine is an excellent lender. I get great approvals from them. In my experience, they are approving up to 70% of monthly deposits. But you need to educate the merchant very well on how to use their LOC. Bluevine also suspends their LOC if they see the merchant stacks or if they see any negative trend in sales.
I posted in other thread BV is now accepting applications for business checking accounts. Making it easier for them to offer their products. The game continues to evolve.
I did not say bluevine was MCA, I asked who was the best MCA after bluevine so read again.. In terms of rates. But I have solved my own question. I realize most on this thread are inexperienced and offer nothing new from what we already are set up with.
Not true have had 150k + from them and 120k on table right now
they do online checkout up to 150k..
https://www.bluevine.com/term-loan/ both LOC and Term loans on website list up to $250,000. It also lists they do invoice factoring up to $5M
ease of closing and cost of capital is great I'm sure, they are a very corporate company.
doesn't mean they're great.
are they even "MCA" technically?
best MCA after Bluevine if I had to assume would be Amex or Chase - Paypal or Shopify for online merchants
BlueVine’s Flex Line of Credit and Term Loan is issued by Celtic Bank, a Utah-chartered Industrial Bank- I would say no, they are not an MCA product.
ODC- "Depending on the state where your business is located and other attributes of the loan, your business loan may be issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Your loan agreement will identify the loan issuer prior to your signing."
Utah Banks have been busy!
they actually pay while ya'll steal?
LoanMe offers monthly term loans; 2, 5 and 10 years. We work with any Valid FICO as long as they have 25% ownership of the business, and an open and funded business bank account for 90 days. Let us know if we can help. Most people tend to come over to us after getting sick of daily and weekly MCA's. :)