Results 1 to 16 of 16
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11-17-2017, 04:19 PM #1
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Funders similar to fundworks
I have a merchant that has a position with fundworks, and is looking for a similar 2nd (2-3 years term minimum) Any help?
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11-17-2017, 05:06 PM #2
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11-17-2017, 05:35 PM #3
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My bad, Funding Circle. It is a 5 year term loan I believe...looking for a 2nd term loan provider.
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11-17-2017, 05:39 PM #4Disclaimer
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11-17-2017, 05:47 PM #5
Last edited by ADiamond; 11-17-2017 at 05:50 PM.
Anthony Diamond
Underwriter
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11-17-2017, 05:49 PM #6
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Funding circle doesen't offer term loans?
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11-17-2017, 05:51 PM #7
p.s. a lot of these companies dont accept brokers so if i were you i'd get a power of attorney from your client to apply for credit in their name.
Anthony Diamond
Underwriter
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11-17-2017, 06:09 PM #8
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Thanks Anthony
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11-20-2017, 09:33 AM #9
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11-20-2017, 10:48 AM #10Karen37aGuest
He wants a second.
if it was so easy to say ...hey I got this guy he makes 100k a month owes 130k term loan
He wants a second and a thrid any takers? min 5 years 9 %
We would all be billionaires
That application is going to go into a dump file to call it in 6-12 months
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11-20-2017, 10:53 AM #11
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11-20-2017, 10:56 AM #12Karen37aGuest
And I've seen people post that someone stacked or double funded 6-9 advances and loans in a 2 day period. Anything is possible.
I've also seen some A paper companies fold.
The hardest part of this business is to manage the client's expectations and the brokers on your team. I do not even want those files....I have the yellow pages
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11-20-2017, 11:08 AM #13
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- Jun 2017
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I dont see why. Last month I funded 3 Positions on one deal. In 2 Days.
If the Merchant Can Afford it, and there is No Anti Stacking anywhere. I dont see why you wouldn't want those files.
1st Position Lenders will go out longer terms but wont give the dollar amount needed, hence 2nd and third.
I dont want businesses that will take multiple advances..... you dont like money? All the lenders knew what was happening, no shady business. It is the business we are in.
I understand you came from a crazy 1st position lender that prob clouded your view. but still....
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11-20-2017, 11:12 AM #14Karen37aGuest
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11-20-2017, 11:17 AM #15Karen37aGuest
I can see people putting a healthy second on someone but I do not do it...i only put a second on them when they are not my original client.
I made a promise to the Funders that I would not stack them, and they made a promise to me to not snatch my renewals.
Watch them snatch my renewals and then watch me turn on a dime.
anyway gl
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11-20-2017, 03:53 PM #16
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- Oct 2012
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- 360
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