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01-29-2018, 07:30 PM #1
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01-29-2018, 07:41 PM #2
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
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01-31-2018, 07:54 PM #3
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02-01-2018, 09:18 AM #4Disclaimer
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01-30-2018, 09:19 AM #5
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Please note that we do have some outdated content on the website in places, we can now go up to $1mm on high quality regular deals (does not apply to consolidation program).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.
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01-30-2018, 03:06 PM #6
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
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World of MCA
E.V.P Business Development
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01-31-2018, 09:10 AM #7
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01-31-2018, 01:03 PM #8Disclaimer
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World of MCA
E.V.P Business Development
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"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
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01-31-2018, 04:41 PM #9
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Yet we keep funding more and more of them, quarter after quarter.
We decline 8 out of 10 consolidation apps, but it's an awesome product if your deal fits.
Anyone interested please give us a ring or email: 571-388-2870 / support@lendvo.com.
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