Reverse Consolidations?? What is this .....?
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  1. #1
    Senior Member Reputation points: 32550 Funder Mark's Avatar
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    Quote Originally Posted by CraaaCraaa Radio View Post
    i heard from some of my colleagues that FundKite doesnt pay as much as Premier Capital Funding or Par Funding on reverse consolidations. Is that correct? Can you confirm? As I want to know, and called but they are closed I guess for now and the shabbot!!!!
    I do not know how much par funding pays. What I do know is that in another post, an underwriter from Premier Capital funding wrote that their buyrates come out at 140 with 10 points up sell to a 150. We are much cheaper, more sellable, the lower rates make,it easier to save the clients as much as 30%, and have no Max size for our consolidations.

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    Senior Member Reputation points: 49585 CraaaCraaa Radio's Avatar
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    Quote Originally Posted by Funder Mark View Post
    I do not know how much par funding pays. What I do know is that in another post, an underwriter from Premier Capital funding wrote that their buyrates come out at 140 with 10 points up sell to a 150. We are much cheaper, more sellable, the lower rates make,it easier to save the clients as much as 30%, and have no Max size for our consolidations.
    OK so Fund-kite pays up to 5 point upsell and Premier Capital Funding pays up to 10 point upsell. I understand now totally on the commission capacity of each funder mentioned for reverse consolidations.

    It's funny because on Saturday Night one of my good friends mentioned to me that files that Fundkite declines for reverse consolidations, he sends to Premier Capital Funding and the file is approved.

    Something to think about I guess, as it shows me just totally different underwriting guidelines and qualifications process. All in All just because you get a decline doesn't mean it truly is a decline?

    Your thoughts 💭 DF Family
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    Senior Member Reputation points: 32550 Funder Mark's Avatar
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    Quote Originally Posted by CraaaCraaa Radio View Post
    OK so Fund-kite pays up to 5 point upsell and Premier Capital Funding pays up to 10 point upsell. I understand now totally on the commission capacity of each funder mentioned for reverse consolidations.

    It's funny because on Saturday Night one of my good friends mentioned to me that files that Fundkite declines for reverse consolidations, he sends to Premier Capital Funding and the file is approved.

    Something to think about I guess, as it shows me just totally different underwriting guidelines and qualifications process. All in All just because you get a decline doesn't mean it truly is a decline?

    Your thoughts �� DF Family
    Our buy rate for this program is a 1.27, theirs is a 1.40. Naturally ours is a easier program to sell, so people come to first. I'd we we decline the file, then feel free to take it so a more expensive alternative funder.

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    Senior Member Reputation points: 49585 CraaaCraaa Radio's Avatar
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    Quote Originally Posted by Funder Mark View Post
    Our buy rate for this program is a 1.27, theirs is a 1.40. Naturally ours is a easier program to sell, so people come to first. I'd we we decline the file, then feel free to take it so a more expensive alternative funder.
    Gratitude Funder Mark on the buy rate from Fundkite regarding these reverse consolidations. I'm sure the buy rate starts at 1.27 but it's not that buy rate standard for each reverse consolidation file?
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    Senior Member Reputation points: 32550 Funder Mark's Avatar
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    Quote Originally Posted by CraaaCraaa Radio View Post
    Gratitude Funder Mark on the buy rate from Fundkite regarding these reverse consolidations. I'm sure the buy rate starts at 1.27 but it's not that buy rate standard for each reverse consolidation file?
    Every reverse consolidation offer comes with a 1.27 buy rate, and around 130 days.

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    Senior Member Reputation points: 49585 CraaaCraaa Radio's Avatar
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    Quote Originally Posted by Funder Mark View Post
    Every reverse consolidation offer comes with a 1.27 buy rate, and around 130 days.
    Hhhhmmmmmmmm
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    Quote Originally Posted by CraaaCraaa Radio View Post
    Hhhhmmmmmmmm
    No games, no white-labeling, no last minute price changes. If you want to try us out, sign up!! https://fundkite.com/iso5

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    Quote Originally Posted by Funder Mark View Post
    Every reverse consolidation offer comes with a 1.27 buy rate, and around 130 days.
    is there any instance where you can go past 6 months? 9-12 maybe or all offers are 6 months max?

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    Quote Originally Posted by Sachip24 View Post
    is there any instance where you can go past 6 months? 9-12 maybe or all offers are 6 months max?
    Coming soon!!

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    Quote Originally Posted by Sachip24 View Post
    is there any instance where you can go past 6 months? 9-12 maybe or all offers are 6 months max?
    we commonly go 8-11 months on our zero-net consolidation program.

    Again it is hard to qualify for but if you've got a solid merchant with good banks its a much better option than a reverse for you and your client.

  11. #11
    Senior Member Reputation points: 49585 CraaaCraaa Radio's Avatar
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    Quote Originally Posted by CraaaCraaa Radio View Post
    Gratitude Funder Mark on the buy rate from Fundkite regarding these reverse consolidations. I'm sure the buy rate starts at 1.27 but it's not that buy rate standard for each reverse consolidation file?
    But they go past 6 months on term and pay 10 points Funder Mark
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