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05-24-2017, 08:27 PM #1
Reputation points: 49940
- 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 #2
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 #3
Reputation points: 2671
- 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 #4
Reputation points: 10
- 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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