[abfunders]

Did you try Elevate? Sub-500 FICO. Here's a file we're currently working with:

Elevate: $6,400.00, payback 1.41, $107.00, 84 payments. $200 setup fee, no other fees.
Mantis: $6250, 1.48, 71 days, $139 daily -> Probably a standard 5% minimum fee.

Elevate pays 7 points (on the payback) and they renew with 30% once they've seen 3 weeks paid back (paying 5 points). Renewals are 4.5% on the payback amount.
In 3 weeks, merchant will get $1920. Total payout in 3 weeks? 6400*1.41*.07+1920*.05 = $727.68. (CORRECTED according to Elevate's corrections below)

Mantis @ 10 points pays $625.

Contracts with DL, VC, BL, landlord contact.

[HeatherF]

Did you try Elevate? Sub-500 FICO. Here's a file we're currently working with:

Elevate: $6,400.00, payback 1.41, $107.00, 84 payments. $200 setup fee, no other fees.
Mantis: $6250 1.48 71 days 139 daily -> Probably a standard 5% minimum fee.

Elevate would pay 7 points and Elevate renews with 30% once they've seen 3 weeks paid back (paying 5 points)
$1920. Total payout in 3 weeks? 6400*.07+1920*.05 = $544.

Mantis @ 10 points pays $625.

Then you have to balance Which advance is better for the client vs Which advance is better for your pocket? At $81 less, for even the greedy ones, I say go with Elevate. They'll fund with DL, VC, BL, landlord contact.

Remember Elevate is 7% on payback so your commission is actualy 631.68 ... It is the 9024*.07

[abfunders]

Remember Elevate is 7% on payback so your commission is actualy 631.68 ... It is the 9024*.07

Wow..... that's much nicer. Nice try Mantis, Elevate all the way. Really really fast UW, too!

Do you pay the 5% of the "Flex Funds" (since this client is Tier 2) on the payback or on the disbursement?