Results 1 to 25 of 50
Hybrid View
-
01-29-2018, 05:13 PM #1
Reputation points: 158630
- Join Date
- Jul 2015
- Posts
- 1,202
-
01-29-2018, 05:32 PM #2
Makes sense HDF. Reason I am asking how many positions will Lendvo payoff on consolidation is because I already know the answer!!! I just want to see if the member will post it and reply. In the end when a merchant is over leveraged with positions 3 4 5, first thing is find out what the balances are on each position and find out what the original advance amount was? Once you have that info send the file to
Premier Capital Funding
Fundkite
Par FundingDisclaimer
This message brought to you by:
CraaaCraaa Radio ®
http://debanked.com/merchant-cash-ad...nce-directory/
World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
-
01-29-2018, 06:01 PM #3
Reputation points: 12169
- Join Date
- Jul 2015
- Posts
- 168
We have no limit on number of positions, maybe someone whose worked with us can verify their experience? We've paid off as many as 7 I believe. We care that the total balances due are no more than 80% of the ave monthly deposits rather than number of positions.
It is true most of the apps for consolidations we see we decline. However, our point is that try to work with a full consolidation, no-net, longer term lender FIRST. Seems the vast majority of reps go straight to the perverse consolidation before trying for a full no-net consolidation.
-
01-29-2018, 06:17 PM #4Disclaimer
This message brought to you by:
CraaaCraaa Radio ®
http://debanked.com/merchant-cash-ad...nce-directory/
World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
-
01-29-2018, 07:26 PM #5
Reputation points: 203690
- Join Date
- Jan 2014
- Posts
- 1,378
-
01-29-2018, 07:30 PM #6
Reputation points: 203690
- Join Date
- Jan 2014
- Posts
- 1,378
-
01-29-2018, 07:41 PM #7
100k that's it? No, please Lendvo confirm. I did a deal with Premier Capital Funding on a reverse for 255k with 5 positions.
I also did one with Par Funding on a reverse as well for 200k with 4 positions.
Both Funders paid me more than 5 points.
Both Funders also had the merchant net some capital. Not alot but both merchants was happy to net something.Disclaimer
This message brought to you by:
CraaaCraaa Radio ®
http://debanked.com/merchant-cash-ad...nce-directory/
World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
-
01-31-2018, 07:54 PM #8
Reputation points: 3047
- Join Date
- Oct 2016
- Location
- NYC
- Posts
- 118
-
02-01-2018, 09:18 AM #9Disclaimer
This message brought to you by:
CraaaCraaa Radio ®
http://debanked.com/merchant-cash-ad...nce-directory/
World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
-
01-30-2018, 09:19 AM #10
Reputation points: 12169
- Join Date
- Jul 2015
- Posts
- 168
Please note that we do have some outdated content on the website in places, we can now go up to $1mm on high quality regular deals (does not apply to consolidation program). We currently do not have a formal cap for the zero-net consolidation program but yes once we get above $100k we want to see overall higher 'cleanliness' in the file, higher credit, more revenue, older biz etc etc.
I'm going to post our 'smell test' for the zero-net consolidation program below to avoid confusion. Again this program is not easy to qualify for but if your merchant does check the boxes it is much much better than a perverse consolidation. You can get up to 13.20% and it can cut your merchant's payments significantly more than a perverse consolidation goes since we can go 8-11mo in this structure. If you've got a merchant that hits at least 5 of these you should at least check to try and get the full consolidation first.
a. In business at least 3 years
b. Owner FICO 599+
c. No more than 80% combined balances to monthly gross sales/net deposits
d. Debt burden test: On paper refi’ing the current balance at a 10mo 1.35 reduces the current daily payments by at least 50%
e. Max 4 negative days in last 60 days of bank
f. Has not taken a new advance within last 30 business days, i.e. 1.5 months.
-
01-30-2018, 03:06 PM #11
I don't know Lendovo
Paying 7 Funders off how much did merchant net? In this industry doing a full consolidation and paying off all those lenders seems unreal. Tough for me to even think is possible, but I may be wrong... Maybe!!!
I can assume your website is up to date with the correct funding advance max amount you provide, correct?Disclaimer
This message brought to you by:
CraaaCraaa Radio ®
http://debanked.com/merchant-cash-ad...nce-directory/
World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
-
01-31-2018, 09:10 AM #12
Reputation points: 12169
- Join Date
- Jul 2015
- Posts
- 168
Similar Threads
-
Reverse consolidation Lenders?
By 1Loanguy in forum All Other LendingReplies: 4Last Post: 06-18-2019, 11:26 AM -
Reverse Consolidation
By FunderGal in forum Deal BinReplies: 12Last Post: 11-15-2017, 03:55 PM -
Reverse Consolidations which direct lenders can actually go over $1,000,000 on these
By Sachip24 in forum Merchant Cash AdvanceReplies: 26Last Post: 10-03-2017, 11:23 AM