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  1. #26
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    Quote Originally Posted by WestCoastFunding View Post
    Attachment 1930

    Hi Dave!

    It’s with a heavy heart that i inform you that the SoS lists your company as inactive. You’re a rules guy, so you’ll understand that should refrain from soliciting business until you get your shit together.
    dude my whole office wants to know why i just fell on the floor laughing

  2. #27
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    Lmao

  3. #28
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    Quote Originally Posted by Karen37a View Post
    lol

    ( i secretly like west coast he makes me laugh all day)
    repeat
    Optimal thinking is multidisciplinary, luck is the result of design; the more skillful you become, the luckier you get.

  4. #29
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    Quote Originally Posted by WestCoastFunding View Post
    Attachment 1930

    Hi Dave!

    It’s with a heavy heart that i inform you that the SoS lists your company as inactive. You’re a rules guy, so you’ll understand that should refrain from soliciting business until you get your shit together.
    Guess you are not so intelligent - change listing to another State that offers privacy
    Dave Lambert
    FC Financial LLC
    http://www.fcbanbkcard.com
    dave@fcbankcard.com
    1-727-233-1111

  5. #30
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    Quote Originally Posted by Yankeeman07 View Post
    Guess you are not so intelligent - change listing to another State that offers privacy
    he is just going to look you up in Delaware or nevada


    Also florida has "business tax" rules and certain areas are required to get a licence with the local building authority to do business...depends if you are in the inc villages or not

    My area is split up so once of my offices had a licence the other didnt have to

    There are also home based business rules...licence etc
    Optimal thinking is multidisciplinary, luck is the result of design; the more skillful you become, the luckier you get.

  6. #31
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    Quote Originally Posted by Karen37a View Post
    yankee i said this





    Then you said this



    * one good thing about" print" you cant say ...i never said that, or you never said that ( even though some continually do it) like you block your eyes.


    ( now some of you jump on with the whole loan is not an advance speech.....hard to watch over and over again)

    Gl to you waving **


    ps. this is how I know that some people cant "close"...you pick up the wrong cue
    All my statements are factual - I do not deal in consumer lending nor mortgages, therefore, a License is NOT Required. Therefore, Compliance does not enter into the picture.
    Dave Lambert
    FC Financial LLC
    http://www.fcbanbkcard.com
    dave@fcbankcard.com
    1-727-233-1111

  7. #32
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    Quote Originally Posted by Yankeeman07 View Post
    All my statements are factual - I do not deal in consumer lending nor mortgages, therefore, a License is NOT Required. Therefore, Compliance does not enter into the picture.

    gl yankee. I have deals to close. This is wasting time.

    go fight with west coast its more enjoyable for everyone
    Optimal thinking is multidisciplinary, luck is the result of design; the more skillful you become, the luckier you get.

  8. #33
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    Quote Originally Posted by Karen37a View Post
    gl yankee. I have deals to close. This is wasting time.

    go fight with west coast its more enjoyable for everyone
    Then stop commenting - I made a simple statement - MCA are NOT LOANS!!
    Look up the numerous Case Law regarding MCA.

    If and when the regulations change, then I would abide by them, in the meantime we move forward.

    Fact be known, I avoid most MCA products and I sure don't stack.
    Dave Lambert
    FC Financial LLC
    http://www.fcbanbkcard.com
    dave@fcbankcard.com
    1-727-233-1111

  9. #34
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    Quote Originally Posted by Yankeeman07 View Post
    Then stop commenting - I made a simple statement - MCA are NOT LOANS!!
    Look up the numerous Case Law regarding MCA.

    If and when the regulations change, then I would abide by them, in the meantime we move forward.

    Fact be known, I avoid most MCA products and I sure don't stack.


    **again this was posted.

    (Ive seen and heard of many people arrested in various states. We are not regulated( its an advance not loan) but it drags you into compliance territory and the danger zone )
    Soem of you are like those guys on that wicked tuna show...every 2 seconds they want to say " we have to sustain the species" when they throw a fish back or talking about fish

    "we have to sustain the species" "mcas are not LOans they are advances" ....wow really you dont say
    Optimal thinking is multidisciplinary, luck is the result of design; the more skillful you become, the luckier you get.

  10. #35
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    Quote Originally Posted by Yankeeman07 View Post
    Guess you are not so intelligent - change listing to another State that offers privacy
    Oh, Davie.

    Your website lists a Florida address. If you’re conducting business within Florida you must be in good standing. You know that.

  11. #36
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    Quote Originally Posted by kturner317 View Post
    Who else offers monthly payment business loans besides Lendistry and Funding Circle? I know Breakout does as well but they really offer a monthly payment working capital product, not a true business loan, and Funding Circle seems like they are about to go in the tank.

    Who else is out there?
    YOu can try LQD although hard to qualify I have not had any luck with approvals there yet. If merchant has real estate with Equity you can try Lift Forward. Sean is sometimes on here I forgot his handle, he is stand up guy though working deal with him now actually very nice one too.

  12. #37
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    Quote Originally Posted by RichardGerard View Post
    Lendistry does NOT charge an 'upfront fee'. After receiving a file and determining they wish to move forward with a term sheet, they request a small fee to do further due diligence. This is very common in the ABL world, except the fees are usually $5000 plus. If the deal closes they credit the $200 from their origination/closing fees.

    As other colleagues mentioned: if the client pays that small amount they know they have something real- not a client shopping their numbers. Actually protects advocates as well..

    True Story -
    Our office has seen kind of a lag or delays in follow-ups from Lendistry thru a few steps in the process. But they are still a solid option.
    They usual go thru the SBA route and try to offer a loan in between. We have not been able to figure out the rhyme or reason .... yet...
    Jonathan Kohanoff
    B.R.E. #01962090

    Diamond Business Loans
    Beverly Hills, CA 90211
    jon@diamondbl.com
    www.DiamondBL.com

  13. #38
    Quote Originally Posted by kevinhenry0527 View Post
    KTurner317, Are you seeking an asset based line of credit?
    Yes

  14. #39
    Quote Originally Posted by Sachip24 View Post
    YOu can try LQD although hard to qualify I have not had any luck with approvals there yet. If merchant has real estate with Equity you can try Lift Forward. Sean is sometimes on here I forgot his handle, he is stand up guy though working deal with him now actually very nice one too.
    Good info thanks!

  15. #40
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    Quote Originally Posted by kturner317 View Post
    Good info thanks!
    yes ...try lift forward. I am sure they will message yuo if they see this
    Optimal thinking is multidisciplinary, luck is the result of design; the more skillful you become, the luckier you get.

  16. #41
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    Be prepared for a very extensive stip list if you are dealing with lendistry. ALL UCC's must be cleared and they want the borrower to take out additional life insurance, and its the slowest process ever. One rep here funded a deal with them that took 4 months, and didnt pay shit

  17. #42
    Quote Originally Posted by kturner317 View Post
    Just recently partnered with them and sent them a file. Then I find out they charge $200 upfront non refundable application fee to the borrower. That made the hair stand up on my head. Charging up front nonrefundable fees has traditionally been one of the quickest ways to unveil a fraudulent lender and also the quickest way to be shut down by bank commissioners. I checked Lendistry's BBB rating and found out its only been listed as A+ since Feb 10, 2018. That's right, its only been there for a month.

    Has anyone had an experience with Lenistry? If so please opine.
    If you have questions, contact Janet Perez. She will explain lending guidelines and fee structure. Also, RG identified what the potential fees could be surrounding this request. They are a lender and Janet can assist with clarifying their product.

    https://htmlsigs.s3.amazonaws.com/lo...ransparent.png LinkedIn https://s3.amazonaws.com/htmlsig-ass...ets/spacer.gif https://s3.amazonaws.com/htmlsig-assets/spacer.gif

    https://s3.amazonaws.com/htmlsig-assets/spacer.gif

    Janet Perez / VP, Business Development
    Janet.perez@lendistry.com / 714.615.3971

    Lendistry
    Office: 562.242.2993 / Fax: 562.475.4981
    lendistry.com

  18. #43
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    Quote Originally Posted by snajieb View Post
    If you have questions, contact Janet Perez. She will explain lending guidelines and fee structure. Also, RG identified what the potential fees could be surrounding this request. They are a lender and Janet can assist with clarifying their product.

    https://htmlsigs.s3.amazonaws.com/lo...ransparent.png LinkedIn https://s3.amazonaws.com/htmlsig-ass...ets/spacer.gif https://s3.amazonaws.com/htmlsig-assets/spacer.gif

    https://s3.amazonaws.com/htmlsig-assets/spacer.gif

    Janet Perez / VP, Business Development
    Janet.perez@lendistry.com / 714.615.3971

    Lendistry
    Office: 562.242.2993 / Fax: 562.475.4981
    lendistry.com
    Sean, you're a great guy- and we get along. However as relates to this: the folks at Lendistry have demonstrated on a recent deal that they're not sure if they want to lend- or if they would prefer to act as an intermediary. They took 4 weeks to NOT do a deal for 250k over three years- that we are closing for 350k over 10. Their Underwriter was falling all over assets- while not paying attention to 500k in AR, and a client with a NOI of 300k from 2017!!! Not a clue. As for Ms. Perez- she tried to step in and assist- but was far from pleasant. If the SBA is faster than them- I can't fathom a situation where they would be useful- especially if they have a 3 year amortization as opposed to 10!

    We have had considerably more success dealing regular banks, ABL's, and the Government -on term loans- than any of the folks mentioned. If however you are looking for subordinating debt, the folks mentioned previously might be able to help..

    RG

    www.businesscapitalconsultants.com

  19. #44
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    From what I heard Lendistry is going state by state getting gov backed money. I know they have Cali covered already thats why deals in Cali they close super quick, and some other states on west coast I believe not sure which ones specifically. But that is their plan

  20. #45
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    The deal we brought them WAS A CALI deal.. The government closed the deal BEFORE THEY DID..

    Unless they made a complete overhaul of their entire model/staff I can't see any value at all in working with them

  21. #46

    Fees

    Quote Originally Posted by kturner317 View Post
    Just recently partnered with them and sent them a file. Then I find out they charge $200 upfront non refundable application fee to the borrower. That made the hair stand up on my head. Charging up front nonrefundable fees has traditionally been one of the quickest ways to unveil a fraudulent lender and also the quickest way to be shut down by bank commissioners. I checked Lendistry's BBB rating and found out its only been listed as A+ since Feb 10, 2018. That's right, its only been there for a month.

    Has anyone had an experience with Lenistry? If so please opine.
    Please feel free to contact me with any questions or concerns at 562-242-2993
    Last edited by LinkedInQueen; 10-10-2018 at 04:38 PM. Reason: Language

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