Which high risk funders are funding now ?
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Which high risk funders are funding now ?
LCF is still funding , below is the current list of industries we are funding -
Accountants
Assisted Living Facilities
Cannabis dispensaries
Cleaning services / Janitorial
Convenience Stores
Delivery services
Doctors - primary care physicians
eCommerce / online sales
Funeral Homes and associated services
Grocery Stores
Gun Dealers
Hardware Stores
Home Health Care
Home Improvement Centers
Insurance Agencies
Laundromats
Lawyers
Liquor stores
Medical Centers
Pet supply stores
Pharmacies
Restaurants - must have strong take out / delivery sales
Specialty Trade Contractors ( such as electricians, plumbers, HVAC )
Technology
Trucking
Technology
Urgent Care
Veterinarians
Manufacturing companies, distributors and supply chain companies producing and supplying essential products and services in and for industries such as pharmaceutical, technology, biotechnology, healthcare, chemicals, sensitization, waste pickup/disposal, agriculture, food/beverage, transportation, energy, steel, petroleum/fuel, mining, construction, national defense and communications. ( oil production is an exception to this, and is currently an auto decline )
Construction - must provide AR and WIP with submission, generally we are only funding construction at this time that is currently working on an essential or infrastructure contract.
united fund is funding now.Quote:
Originally Posted by Quickbizpartner
email michaelw@unitedfundusa.com
High risk ?? Due to virus the high risk stuff will not be funded or limited in funds they give.
What is your contact info ?Quote:
Originally Posted by Last Chance Funding
Chrome funded a small 10k deal yesterday and is putting it out offers to fund.
www.chromecapitalfunding.com
Talk about falling off.Quote:
Originally Posted by FundingTap123
We re funding all types of businesses still running
Call/ Text me if you need any pricing on deals
Call Liz at LCF tell them Rick over at Metro sent ya 646-793-4892Quote:
Originally Posted by Quickbizpartner
If I have a deal that they do not own property that is where you should go.
Now if you have a merchant that has property then you call me at the number below. You should always ask if they own property
Cheers to growth and I hope you get your merchant funded!
Well you are definitely a broker, but that doesnt make you a bad guy, what can your contacts do with deals in which real estate is involved and how do you split commission, considering your a broker and have to be compensated as well.Quote:
Originally Posted by Rickinindy
If you have the right contacts it may be worth a try
RE: question answered for
FlexibleCapitalSolutions
"Well you are definitely a broker, but that doesn't make you a bad guy, what can your contacts do with deals in which real estate is involved and how do you split commission, considering your a broker and have to be compensated as well.
If you have the right contacts it may be worth a try"
My reply:
I pay 10 points on secured advances and do not require any merchant to pay for appraisals, up front costs and title work/recording is deducted from the funded amount to the merchant - pay on 3rd pull
MCA- average 20% of annual revenue 9,18,27 or 36 months
Deferment options and early payoff is available
My contact info is below and you may e-mail me for a ISO agreement and we can discuss the deal from there.
I have no problems earning my keep by help in closing deals.
Thanks Rick, my concern is the legality of this transaction. You fund MCA deals backed by Real estate. Is that legal ? If so could you please explain how.Quote:
Originally Posted by Rickinindy
I may have a couple of clients that could use something like this, but I would like to understand the legality first.
Thanks for inquiring, the property has to belong to the business. Many times we will quick claim that. There is other ways to this to where we have made them sign affidavits under a cross colladderal setting. I can tell you that I have never had a issue never had a question of legality of the secured advance space. There are several companies that have products like these. Liens record similer to a HELOC but like the old personal guarantee holding the lien to protect the advance against default
wouldn't a court look at the contract as a loan since it is secured by real estate? isn't that the reason that you funders can charge what you charge as far as factor rates? Because there is no collateral other than the accounts receivables of a specific Merchant. Sounds like there may be some issues here Rick, did you check with an attorney? If you can verify that it is legal, I have a couple of clients for you.Quote:
Originally Posted by Rickinindy
We can absolutely verify it is legal and no difference over a personal guarantee. I have no problem doing so and can go further and provide you with the memorandum.
There are no gray areas here. The very first line in any funding agreement shows " This is not a loan" the same way it shows in any merchant cash advance. I will have council send that over to you if you so desire. Before you would introduce my services to any of your clients I would want you to be confident and comfortable with the product we sell here. I am not new to this and have to also mention I stand on a integrity before we can go make money standpoint here.
Thanks Rick, I am not questioning your integrity, I am questioning the legality of your product. I will be reaching out to you for this info. However, I would like to point out that judges have ruled certain contracts to be loans even when the contract said it's not a loan. I am afraid Real Estate Collateral may be a determining factor in this case. I would be curious to hear more about your research on this.Quote:
Originally Posted by Rickinindy
WBL gets away with calling them loans and plopping a 2nd mortgage right on title, and their 2-year 1.76 factor rate is somehow still a legal loan.Quote:
Originally Posted by FlexibleCapitalSolutions
Lmao. Def funding less than before but not stopping. Pushed a 35k out also after the 10k. Eh...it’s something.