dude my whole office wants to know why i just fell on the floor laughing
Printable View
Lmao
he is just going to look you up in Delaware or nevada
Also florida has "business tax" rules and certain areas are required to get a licence with the local building authority to do business...depends if you are in the inc villages or not
My area is split up so once of my offices had a licence the other didnt have to
There are also home based business rules...licence etc
Then stop commenting - I made a simple statement - MCA are NOT LOANS!!
Look up the numerous Case Law regarding MCA.
If and when the regulations change, then I would abide by them, in the meantime we move forward.
Fact be known, I avoid most MCA products and I sure don't stack.
Soem of you are like those guys on that wicked tuna show...every 2 seconds they want to say " we have to sustain the species" when they throw a fish back or talking about fishQuote:
**again this was posted.
(Ive seen and heard of many people arrested in various states. We are not regulated( its an advance not loan) but it drags you into compliance territory and the danger zone )
"we have to sustain the species" "mcas are not LOans they are advances" ....wow really you dont say
YOu can try LQD although hard to qualify I have not had any luck with approvals there yet. If merchant has real estate with Equity you can try Lift Forward. Sean is sometimes on here I forgot his handle, he is stand up guy though working deal with him now actually very nice one too.
True Story -
Our office has seen kind of a lag or delays in follow-ups from Lendistry thru a few steps in the process. But they are still a solid option.
They usual go thru the SBA route and try to offer a loan in between. We have not been able to figure out the rhyme or reason .... yet...
Be prepared for a very extensive stip list if you are dealing with lendistry. ALL UCC's must be cleared and they want the borrower to take out additional life insurance, and its the slowest process ever. One rep here funded a deal with them that took 4 months, and didnt pay ****
If you have questions, contact Janet Perez. She will explain lending guidelines and fee structure. Also, RG identified what the potential fees could be surrounding this request. They are a lender and Janet can assist with clarifying their product.
https://htmlsigs.s3.amazonaws.com/lo...ransparent.png LinkedIn https://s3.amazonaws.com/htmlsig-ass...ets/spacer.gif https://s3.amazonaws.com/htmlsig-assets/spacer.gif
https://s3.amazonaws.com/htmlsig-assets/spacer.gif
Janet Perez / VP, Business Development
Janet.perez@lendistry.com / 714.615.3971
Lendistry
Office: 562.242.2993 / Fax: 562.475.4981
lendistry.com
Sean, you're a great guy- and we get along. However as relates to this: the folks at Lendistry have demonstrated on a recent deal that they're not sure if they want to lend- or if they would prefer to act as an intermediary. They took 4 weeks to NOT do a deal for 250k over three years- that we are closing for 350k over 10. Their Underwriter was falling all over assets- while not paying attention to 500k in AR, and a client with a NOI of 300k from 2017!!! Not a clue. As for Ms. Perez- she tried to step in and assist- but was far from pleasant. If the SBA is faster than them- I can't fathom a situation where they would be useful- especially if they have a 3 year amortization as opposed to 10!
We have had considerably more success dealing regular banks, ABL's, and the Government -on term loans- than any of the folks mentioned. If however you are looking for subordinating debt, the folks mentioned previously might be able to help..
RG
www.businesscapitalconsultants.com
From what I heard Lendistry is going state by state getting gov backed money. I know they have Cali covered already thats why deals in Cali they close super quick, and some other states on west coast I believe not sure which ones specifically. But that is their plan
The deal we brought them WAS A CALI deal.. The government closed the deal BEFORE THEY DID..
Unless they made a complete overhaul of their entire model/staff I can't see any value at all in working with them