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05-25-2017, 10:18 AM #1
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 #2
- 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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