Results 1 to 3 of 3
  1. #1

    Buying Out Defaulted Advances - Great Way To Get Those Merchants To Pay

    Hi All,

    I am working with a very large company that has come up with a program of factoring the receivables of defaulted MCA clients who meet the criteria, in order to pay off the defaulted balance and after that, converting the merchant to a factoring client since they no longer can obtain an MCA due to the default. The default does not disqualify them from factoring at this company, and the merchant's funds are sent directly to the funding company that is owed a balance until that balance is paid in full, we also will take a subordinate position to the defaulted MCA lender's UCC. We are working with several large MCA companies and would like to open this product up because it is working spectacularly well. We have basically created this product specifically to allow MCA lenders to convert a large percentage of their defaulted portfolio into immediate payment.

    We are looking for direct lenders, the bigger the better, who can identify the defaulted accounts on their books that would be in industries that operate off invoicing, or allow us to do it for them. You can give us a test run of just a few defaulted merchants, that's fine. We are looking to continue building this into a wholesale operation. We are capable of several hundred submissions at a time, so we can easily take on your entire defaulted portfolio.

    Please message me if interested, and then we can move the conversation to phone or email. Thanks!

  2. #2
    Senior Member Reputation points: 160679 ryan $'s Avatar
    Join Date
    Jun 2017
    Posts
    1,814

    Quote Originally Posted by downtownfunding View Post
    Hi All,

    I am working with a very large company that has come up with a program of factoring the receivables of defaulted MCA clients who meet the criteria, in order to pay off the defaulted balance and after that, converting the merchant to a factoring client since they no longer can obtain an MCA due to the default. The default does not disqualify them from factoring at this company, and the merchant's funds are sent directly to the funding company that is owed a balance until that balance is paid in full, we also will take a subordinate position to the defaulted MCA lender's UCC. We are working with several large MCA companies and would like to open this product up because it is working spectacularly well. We have basically created this product specifically to allow MCA lenders to convert a large percentage of their defaulted portfolio into immediate payment.

    We are looking for direct lenders, the bigger the better, who can identify the defaulted accounts on their books that would be in industries that operate off invoicing, or allow us to do it for them. You can give us a test run of just a few defaulted merchants, that's fine. We are looking to continue building this into a wholesale operation. We are capable of several hundred submissions at a time, so we can easily take on your entire defaulted portfolio.

    Please message me if interested, and then we can move the conversation to phone or email. Thanks!
    Who cant fund defaulted merchants? I can.

  3. #3
    Senior Member Reputation points: 273274
    Join Date
    Mar 2015
    Location
    Boynton Beach, FL
    Posts
    2,956

    Quote Originally Posted by downtownfunding View Post
    Hi All,

    I am working with a very large company that has come up with a program of factoring the receivables of defaulted MCA clients who meet the criteria, in order to pay off the defaulted balance and after that, converting the merchant to a factoring client since they no longer can obtain an MCA due to the default. The default does not disqualify them from factoring at this company, and the merchant's funds are sent directly to the funding company that is owed a balance until that balance is paid in full, we also will take a subordinate position to the defaulted MCA lender's UCC. We are working with several large MCA companies and would like to open this product up because it is working spectacularly well. We have basically created this product specifically to allow MCA lenders to convert a large percentage of their defaulted portfolio into immediate payment.

    We are looking for direct lenders, the bigger the better, who can identify the defaulted accounts on their books that would be in industries that operate off invoicing, or allow us to do it for them. You can give us a test run of just a few defaulted merchants, that's fine. We are looking to continue building this into a wholesale operation. We are capable of several hundred submissions at a time, so we can easily take on your entire defaulted portfolio.

    Please message me if interested, and then we can move the conversation to phone or email. Thanks!
    Happy to compete on those factoring deals! We have done several deals where the owner stacked themselves to death or defaulted with other advancers/lenders. We are a bank owned factor and asset based lender. That being said, our rates are more cost effective than most factoring companies.
    Kevin Henry
    Managing Director-Commercial Services
    Sterling National Bank
    KHenry@SNB.Com
    609-273-6325
    Boynton Beach, FL

Similar Threads

  1. Replies: 13
    Last Post: 07-19-2017, 11:05 AM
  2. Buying Defaulted Loans
    By BellCapital_Jeff in forum Merchant Cash Advance
    Replies: 5
    Last Post: 02-09-2017, 09:33 AM
  3. Replies: 8
    Last Post: 01-22-2017, 11:42 PM
  4. Replies: 10
    Last Post: 08-30-2016, 01:27 PM
  5. Merchants that defaulted
    By sdellitalia in forum Merchant Cash Advance
    Replies: 14
    Last Post: 01-07-2016, 03:44 PM


Posting Permissions

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