2nd position lenders go out 12 months?
Need a Funder or Vendor? START HERE

Results 1 to 8 of 8
  1. #1
    Senior Member Reputation points: 203054
    Join Date
    Jan 2014
    Posts
    1,361

    2nd position lenders go out 12 months?

    besides IOU? merchant needs 100k, retailer perfect credit, does about 300k a month great bank statements he just got funded 1st position 100k @1.22 need a competitive 2nd
    Last edited by Sachip24; 11-28-2017 at 04:52 PM.

  2. #2
    quarterspot?

  3. #3
    Senior Member Reputation points: 203054
    Join Date
    Jan 2014
    Posts
    1,361

    tried them it no go were not competitive enough

  4. #4
    Senior Member Reputation points: 14335
    Join Date
    Aug 2017
    Location
    New York City
    Posts
    199

    Whats the merchant looking for as far as rates go? Under a 1.30 is difficult lol
    Joseph Boyle
    Skyline Funding
    Joseph@Skyline-Funding.com

  5. #5
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,319

    Gonna be hard to beat quarterspot. I suppose you can give SOS or 1st Merchant a shot.

  6. #6
    Senior Member Reputation points: 27404
    Join Date
    Dec 2015
    Location
    Texas
    Posts
    552

    if their first position is a 1.20 you will not get a second that cheap, maybe 1.26 paying 1.5-2 points if he lets you get it on the setup...

    Hope you can find a place for this one. Also If Quarterspot is a nogo, talk to a different rep who wont make that much to make it close..

  7. #7
    Senior Member Reputation points: 11170
    Join Date
    May 2017
    Posts
    350

    Quote Originally Posted by WestCoastFunding View Post
    Gonna be hard to beat quarterspot. I suppose you can give SOS or 1st Merchant a shot.
    isn't 1st merchant kind of expensive ?

    quicksilver would do 1.23 br 9-10 momt If it's a paper probably

  8. #8
    Senior Member Reputation points: 15507
    Join Date
    Dec 2016
    Location
    Brooklyn N.Y.
    Posts
    428

    There are institutions now that lend money to cash advance companies, for 18% annually. Imagine seeing a cash advance company getting a 1.15 from Quarterspot or IOU and flipping it out for 4 month deals at 1.49... basically stacking Quarterspot with their own money!..
    High risk paper

Similar Threads

  1. Who would go out 18 Months on a 2nd Position?
    By RDav in forum Merchant Cash Advance
    Replies: 8
    Last Post: 12-28-2016, 04:14 PM
  2. Replies: 8
    Last Post: 11-29-2016, 02:26 PM
  3. 2nd position 8 months TIB
    By christian04 in forum Deal Bin
    Replies: 4
    Last Post: 10-05-2016, 06:23 PM
  4. Different Lenders = Different Offers -- MCA 12 Months
    By wally in forum Merchant Cash Advance
    Replies: 9
    Last Post: 11-23-2015, 10:19 AM
  5. 2nd Position 10-12 Months
    By len@accfunding.com in forum Merchant Cash Advance
    Replies: 9
    Last Post: 12-18-2014, 02:07 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Lendica partners w/ EBizCharge
Pipe plans to fund $1B to SMBs
URBN partners with Stripe


DIRECTORY