[michaelh]

Anyone know what happen? Are they now just a broker - web page shows SBA Loans

[WestCoastFunding]

Anyone know what happen? Are they now just a broker - web page shows SBA Loans

Sure looks like they're brokers.

[Eagle Funding]

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]

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.

[WestCoastFunding]

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.

They offer SBA loans, lines of credit, invoice financing and cash advances (as per their website). I find it hard to believe they aren't brokering some of that.

[Cfairbank]

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.

[brokerCompany]

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

[mcaguru]

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)

Carl you are right-on that's why so many of the largest funding companies come to us!! (and I'm not just talking advance funding houses)...