[xpresscap]

We are a broker that works with a direct lender for term loans! This is a REVENUE based program that is great for merchants looking to pay off advances, working capital, buy equipments, etc. NO collateral or A/R needed and no upfront fees.

Here are guideline:

Business length: 7 months in business
Revenue: $75,000 or more
Term: up to 15 years
Rate: 7.25% APR
Loan Amount: up to $8 million

Declines: Any MCA Defaults* or Tax liens not a payment plan

[FCF Fund]

So you're giving traditional term loans based solely off of revenues and no collateral based on SISA (Stated Income Stated Assets)?

Please clarify

[xpresscap]

The loan is based off their business bank statements.

[WestCoastFunding]

The loan is based off their business bank statements.

Ohh, what total bull****.

So you're telling me they'll essentially offer SBA rates (with DOUBLE the terms!) based on...... bank statements? Bank Statements?!?!

**** you.

This is the nonsense people resort to when they can't market effectively - so they try to steal files to sell advances to.

[sigmundpannu]

Now this is funny

[xpresscap]

This program is for clients who do not have bad credit and they know they can get better rates. Instead of bashing something you know nothing about why don't you ask question. I guess you rather lose clients instead because they run from the 1.49 interest rate. Thats the real BS!

[WestCoastFunding]

This program is for clients who do not have bad credit and they know they can get better rates. Instead of bashing something you know nothing about why don't you ask question. I guess you rather lose clients instead because they run from the 1.49 interest rate. Thats the real BS!

NO. ONE. OFFERS.. BANK-RATES. WITH. 15 YEAR TERMS. BASED. ON...........bank statements.....!

[xpresscap]

No one??? You mean you dont know them so it can't be real. This isnt a MCA company offering this loan. But Hey... not for you... got it. Go TROLL on someone else thread.

[FCF Fund]

NO. ONE. OFFERS.. BANK-RATES. WITH. 15 YEAR TERMS. BASED. ON...........bank statements.....!

Specifically no assets or collateral needed. Balance sheet loan with MCA UW guidelines???!!! Either you have a lender that is "dumb" money or you dont know anything about what you are really trying to sell.

Sorry but your pitch sounds awfully sketchy to those who have been in commercial financing a long time.

[nrh1lp]

No one??? You mean you dont know them so it can't be real. This isnt a MCA company offering this loan. But Hey... not for you... got it. Go TROLL on someone else thread.

This is a forum full of industry professionals with years of experience and no one is coming to back you up. How about you offer some evidence for the program you are boasting about.

[xpresscap]

I understand where you are coming from. And I know what I am selling. I have been able to close deals that normally passed on a MCA offer because of this program. I could just sit on this program but I decided to share it.

[nrh1lp]

Then offer one tangible piece of evidence you are telling the truth. Anything.

[xpresscap]

You want proof. Sign our NDA. send some clients. you will get your proof.

[FCF Fund]

You want proof. Sign our NDA. send some clients. you will get your proof.

Good luck

[nrh1lp]

You want proof. Sign our NDA. send some clients. you will get your proof.

Why would I want to sign on with a broker who can't sell

[NoBigDeal]

why would i want to sign on with a broker who can't sell

bam!

[RichardGerard]

The loan is based off their business bank statements.

When something sound too good to be true.....

[Yankeeman07]

We are a broker that works with a direct lender for term loans! This is a REVENUE based program that is great for merchants looking to pay off advances, working capital, buy equipments, etc. NO collateral or A/R needed and no upfront fees.

Here are guideline:

Business length: 7 months in business
Revenue: $75,000 or more
Term: up to 15 years
Rate: 7.25% APR
Loan Amount: up to $8 million

Declines: Any MCA Defaults* or Tax liens not a payment plan

Better question - whom are? company name, address, phone , real email address?
Not a freebie email account -

You want brokers to take you seriously, don't hide.

[RichardGerard]

Better question - whom are? company name, address, phone , real email address?
Not a freebie email account -

You want brokers to take you seriously, don't hide.

He's hiding because it cannot possibly be true.. No lender will lend up to 8M based solely on bank statements. How do they collect if the loan goes sideways.

Simply a marketing tool..

Break it down further: the folks that blog here understand factor rates. A 1.10 for 12 months is very hard to secure for clients. The APR conversion for 1.1 over 12 is 18% APR. Since this company is claiming to do 7.25% APR, that means the 'bank statement underwriting' would effectively be offering a 1.04- or making $4000 on 100k deal- without collateral..

There have been countless Fintech Lenders and MCA Funders charging A LOT more than that to clients- that have had a hard time making money/staying in business.

[golf2014]

As always Richard explains things top notch and is a huge asset to this forum.

[encore]

Way to go Richard. I get emails and calls from brokers offering this. No lender is going to take the risk unsecured based solely on bank statements, especially with as much fraud as we see with bank statements.

They'd want more than seven months in business, plus financials, and depending on the amount more than likely collateral.

You shouldn't need a NDA to prove the existence of this program. If he's trying to get us to work with him, provide references of who has received the financing if he doesn't want to give up his source.

I'm not saying he isn't real in his offering, but with years of experience in the MCA industry, and with business finance, it does seem to be to god to be true.

[WestCoastFunding]

Way to go Richard. I get emails and calls from brokers offering this. No lender is going to take the risk unsecured based solely on bank statements, especially with as much fraud as we see with bank statements.

They'd want more than seven months in business, plus financials, and depending on the amount more than likely collateral.

You shouldn't need a NDA to prove the existence of this program. If he's trying to get us to work with him, provide references of who has received the financing if he doesn't want to give up his source.

I'm not saying he isn't real in his offering, but with years of experience in the MCA industry, and with business finance, it does seem to be to god to be true.

Yeah, brokers just pitch this BS program in hopes that someone will send them some files that they can then backdoor.

The 7.25% based on bank statements is ridiculous enough, but the 15 year terms (non-real estate, unsecured) takes the ridiculousness to a new stratosphere. Underwriting 15 year terms based on 4-6 months of cash-flow to a business's bank account? I can't with this bull****.

Here's what really happened: xpresscap received an email or phone call from someone pitching this BS product. Xpresscap being a newer broker (or broker just limited to MCAs) believes the program to be legit, and comes on here pitching the program. So it's not that he/she is trying to pull a fast one, but they sincerely believes the program to be real. A mark of sorts who got sucked in.

[RickyR3712]

Everytime i get a good credit merchant that lowered payment on a mca funder, I get them traditional financing. I have never had a decline from them for mca defaults.

[FCF Fund]

Everytime i get a good credit merchant that lowered payment on a mca funder, I get them traditional financing. I have never had a decline from them for mca defaults.

Wait what? Are you backing xpresscap claim regarding their products?

[Sachip24]

and no upfront fees?? how exactly do you make money on this if you are co brokering to the lender?