Results 1 to 8 of 8
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10-24-2017, 06:26 PM #1
- Join Date
- Sep 2014
- Posts
- 263
Able Lending
Anyone know what happen? Are they now just a broker - web page shows SBA Loans
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10-24-2017, 07:08 PM #2
- Join Date
- Oct 2016
- Posts
- 4,318
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10-24-2017, 07:30 PM #3
No they are not brokers but they make the merchant get a sponsor that puts up 10% for them. I had a merchant who got their MCA paid off by them and then we got them Quarterspot right after (no UCC) as their deal with Able would put them in default if a UCC was filed without their approval. The loan was 4 or 5 years 11%.
Eagle Funding Group
Phone: (646) 793-6809
Email: info@eaglefundinggroup.net
Web: www.eaglefundinggroup.net
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10-24-2017, 07:31 PM #4
Forgot to add the same merchant then got Bond Street which made them payoff Quarterspot and they took QS out again and now Bond Street is going under and we are close to renewing the QS again.
Eagle Funding Group
Phone: (646) 793-6809
Email: info@eaglefundinggroup.net
Web: www.eaglefundinggroup.net
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10-24-2017, 08:55 PM #5
- Join Date
- Oct 2016
- Posts
- 4,318
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10-24-2017, 09:53 PM #6
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
They are a legit, honest company and will (their ceo) I have great respect for— and the the brokering question, I think any prime lender that originates directly needs to have a broker channel or u are either improperly placing folks on their capital or not monetizing (if legit) — and if u look at the most successful non-stacking companies around, they broker out either (a) what they can’t fund; or (b) Can get the client the money that is right for that situation. And for (b) the folks I’m thinking of about are universally respected — it’s not a backdoor play. We even have an option for SBA loans on website, but make it very clear it’s through a partner. We just don’t monirise iso leads. But iso Volume is not our distribution source, and we and others like that would be nuts not to try to help them get funded (again, unless an iso deal — then no brokering)
Back to able. Their business model from a loss perspective is brilliant (friends and family carry the first 10% or 15% to 30% loss piece (before able takes any risk), so able effectively is the AAA traunch on a subprime securitization. That said, that’s a hard biz model to scale I bet, if always required Up front. But brilliant as part of a company that offers a suite of products and u then de-risk them significantly by instituting a F&f first lost position to Lower rate.Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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10-24-2017, 11:14 PM #7
They are a pain to work with when I tried but last time we worked they cut off brokers. They may fund some direct with their investors but No direct funders will do all those types of financing
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10-25-2017, 01:09 PM #8
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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