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05-24-2017, 03:40 PM #1
- Join Date
- Jan 2017
- Posts
- 8
Cast Capital Reverse Consolidation Program
REVERSE CONSOLIDATION
Send us the unfundable stacked files and make $$$
We will consolidate merchants with 5,6,7,8 advances
We will deposit necessary amount to cover current positions on a weekly basis, straight to merchant's account
Merchant will pay one small daily payment
Current advances will naturally be satisfied as we release disbursements
This extends payback periods for merchants and cuts their monthly payments ~ in half, while keeping cash where it should be, with the business
What We Need!
The positions need to be 6 months or less
Last 3 months of Business Bank Statements
List of the current advances
funding company
current balance
# of payments left
original funding amount
Signed ISO Agreement with Cast Capital Funding
ISO COMMISSION!
5 POINTS FOR FUNDING THE UNFUNDABLE!!!
“One Man's Stack is Another Man's Treasure.” - Bruce Leybel, Principal at Cast Capital Funding
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05-24-2017, 08:27 PM #2
- Join Date
- Aug 2014
- Posts
- 620
Just to clarify what you're saying here, you will take merchants with multiple positions, make an offer based off their revenue, not give the merchant the full amount at once but send them weekly disbursements to cover their advance payments and not have the merchants LOWER their daily payments but keep everything as is, merchant pays you a small daily payment with an extended term based off whatever it is that you're offering them? You are not having them settle or restructure any of their advances, everything stays as is? If that's what you're saying that's amazing and something that can be truly valuable in this industry. If you're a Debt restructuring company cleverly wording this post to spark interest, then we all knows what happens to guys like that around here. Looking forward to your response.
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05-25-2017, 10:18 AM #3
these guys reached out to me yesterday and I asked them the same questions you just did almost word for word. They said they do not restructure any of a merchants current advances in any way at all. I am waiting to get some more information but like you said if this is what they are doing they might be a nice add to the industry
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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05-25-2017, 12:10 PM #4
- Join Date
- Mar 2015
- Posts
- 90
So how the program works they are looking to save the merchant at least 25% on their daily payments every day. How it works is we are looking for merchants with 3 or more advances and instead of paying off the current lenders so they can just stack back on top of us what we will do is deposit the funds into their account each week on the day that merchant chooses to cover current daily payments then pull our reduced payment out daily. It is still being underwritten based upon Revenue as well as the formula used to come up with the consolidation. Whats great about the program its not an all or nothing program so if the merchant has 5 advances and only 2 make sense they will consolidate the 2 then come back and do the rest when they are ready. This program strategically in order to make sense for the merchant so they can save money all around even on top of the interest.
Now I have been offering this consolidation program to my merchants for the past 8 months and know they guy who came up with this, and i have never heard of Cast Capital
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05-26-2017, 12:15 PM #5
- Join Date
- Jan 2017
- Posts
- 8
Anthony, we don't condone or agree with how debt settlement companies operate. We are looking to make a good splash in this industry. We believe that merchants should satisfy their current contracts. We believe our program will be able to help out many businesses and give them some breathing room. Happy to answer any other questions.
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05-24-2017, 09:02 PM #6
- Join Date
- Jan 2015
- Location
- Laguna Beach
- Posts
- 463
interesring. Lots of exposure...
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05-24-2017, 10:09 PM #7
It sounds very similar to what Everlasting Capital is offering.
Nick Hubbard
Senior Loan Advisor
314-252-0299 - Office
314-885-2262 - Direct
nick@elitefactoring.com
www.elitefactoring.com
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05-24-2017, 10:26 PM #8
- Join Date
- May 2017
- Posts
- 350
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05-25-2017, 12:41 AM #9
- Join Date
- Oct 2016
- Posts
- 4,318
Not buying it.
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05-25-2017, 04:51 AM #10
- Join Date
- Apr 2014
- Posts
- 781
This is what ml factors does
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05-25-2017, 12:22 PM #11
- Join Date
- Jun 2016
- Posts
- 416
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05-25-2017, 05:59 AM #12
- Join Date
- May 2017
- Posts
- 10
Cashvillage funding does this.
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05-25-2017, 08:19 AM #13
- Join Date
- Oct 2016
- Posts
- 4,318
Cash Village? Oh come on.
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05-25-2017, 08:34 AM #14
- Join Date
- Mar 2015
- Posts
- 90
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05-25-2017, 09:08 AM #15
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Looks like a copycat WBL model
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05-25-2017, 09:16 AM #16
- Join Date
- Jan 2014
- Posts
- 1,372
this is what ML factors does. You are not saving merchant anything, only freeing up some cash flow (which in some cases could work in their favor)
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05-25-2017, 09:20 AM #17
- Join Date
- Oct 2016
- Posts
- 4,318
From their PR release:
"Cast Capital is an independent sales organization and acts in a sales referral partner capacity with a wide network of direct lenders.
As Cast Capital Corp. sales office expands, the firm is actively seeking new partnerships with established direct lenders and private investors new to the business cash advance industry."
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It's all bull****. So essentially they signed an ISO agreement with WBL and put out a press release advertising their new product.
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05-25-2017, 09:59 AM #18
- Join Date
- Jan 2017
- Posts
- 8
Hey WestCoastFunding, the PR release is a few years old. This Consolidation program is real. You're really going to see it take off in this industry this summer. http://castcapitalfunding.com/consolidation/
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05-25-2017, 10:19 AM #19
- Join Date
- Oct 2016
- Posts
- 4,318
Chris7Lender,
Your press release claims you are brokers. Was your press release accurate? Let us know.
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05-25-2017, 10:26 AM #20
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05-25-2017, 10:42 AM #21
- Join Date
- Oct 2016
- Posts
- 4,318
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05-25-2017, 10:49 AM #22
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
Does it matter if they fund AND also broker out deals? Most of the big funders like Bizfi, Yellowstone and SFS do this. As long as the deal funds and you get paid the agreed upon commission, what's the big deal?
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05-25-2017, 10:52 AM #23John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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05-25-2017, 11:01 AM #24
- Join Date
- Oct 2016
- Posts
- 4,318
Those big funders will also put their money into it. Where is the proof this guy funds or syndicates anything? Who is to say they aren't brokers simply looking for stacked files to backdoor another position?
When you want to call yourself a "lender" they should be able to back it up. Without complaint.
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05-25-2017, 11:02 AM #25
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
Definitely John. My reps at the other funders always ask for permission before sending a deal out.
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