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03-29-2018, 02:42 PM #1
End of the month funding frenzy
Dailyfunder.com Members & Viewers
It is the end of the month and the funding train is over booked!!! What Funders are actually funding this end of month and going the extra mile to simply get the job done? How is March 2018 treated you in bottom line funded deals & units?Disclaimer
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03-29-2018, 03:11 PM #2Karen37aGuest
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03-29-2018, 03:17 PM #3
This month went pretty dull so far. 10 deals funded out of my 63 deals max funded - 95K, lowest funded - 6.5K
OnDeck saved this month pretty much like other months.Patrick Wilson
Managing Partner
www.PremierCapitalNetwork.com
(NO MORE LENDER/FUNDER CALL PLZ)
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03-29-2018, 03:21 PM #4Karen37aGuest
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03-29-2018, 03:34 PM #5
- Join Date
- Aug 2017
- Location
- New York City
- Posts
- 199
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03-29-2018, 03:43 PM #6Karen37aGuest
I don't care that much I was just curious...funded ratio/approval/closed
Forget I asked
( i personally watch those numbers to diagnose whats going on to try to conquer it, either thru sales closing strategies, underwriting or marketing...but again...not that important to me)Last edited by Karen37a; 03-29-2018 at 03:46 PM.
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03-29-2018, 04:00 PM #7
We are discussing Funders and Deals Funded on this end of the month stretch for March 2018?
Let me continue where Patrick left off, for the end of the month Funders like Pearl, OnDeck, Par and SOS and Mckenzie have come in clutch with some competitive offers to win the deal and is truly making a difference for the iso's from my experience in March 2018.
March 2018 we are at 22 new deals for the month funded.Disclaimer
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World of MCA
E.V.P Business Development
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03-29-2018, 04:05 PM #8Karen37aGuest
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03-29-2018, 04:08 PM #9Karen37aGuest
One of my brokers closed 10 deals for 300-400k
Another 7 for 200k
I funded 400k
I have others I will let you know when the month endsLast edited by Karen37a; 03-29-2018 at 05:26 PM.
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03-29-2018, 04:49 PM #10
Well to be honest, there were huge declined, out of 63 deals. roughly 17 were approved. I don't keep a huge Lending network. Having pretty bad experiences with Top Lenders. Let's see what happens.
Right now working on selecting right Lenders and signing up with them. I get pretty much 35-60 deals a month. Wish me luck!Patrick Wilson
Managing Partner
www.PremierCapitalNetwork.com
(NO MORE LENDER/FUNDER CALL PLZ)
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03-29-2018, 05:09 PM #11
Most importantly 5 deals were killed at the very end this month.. FML
Patrick Wilson
Managing Partner
www.PremierCapitalNetwork.com
(NO MORE LENDER/FUNDER CALL PLZ)
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03-29-2018, 05:30 PM #12Karen37aGuest
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03-29-2018, 06:36 PM #13Patrick Wilson
Managing Partner
www.PremierCapitalNetwork.com
(NO MORE LENDER/FUNDER CALL PLZ)
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03-29-2018, 07:07 PM #14
- Join Date
- Feb 2018
- Posts
- 1,349
reason could be tight funders! we have all been there done that with low approvals from certain funders. all I can say is don't give up and find those deals another home. one mans trash could be one mans gold. have had deals declined and funded elsewhere and they paid back as expected and renewed while an account manager for funder who declined said "oh, that deal will go bad" .....you never know, keep trying
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03-29-2018, 07:18 PM #15Karen37aGuest
I agree.
So either A) ...you sent it to the wrong funder ( wrong paper grade/algorithms/industry for that company)
B) Balances are too High, too many nsfs etc
C ) Discovery of negative information thru underwriting ( many things)
D) Funding allocation has been met ...ran out of money
E) Failed merchant interview
F) Backdoored
G) Lost to ethical competition
So yes ...keep trying but learn as you go to lessen the wasted time, bad paper, negative consequences and hurt feelings
*****Everyone Else can continue to post their monthly numbers ****
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03-30-2018, 09:58 AM #16
So if we are talking about month of March 2018 and what funder made a difference and why?
Let's start off with consolidations (reverse) in general?
Premier Capital and Par Funding have some really effective consolidation programs with merchants that have multiple positions.
First Position Funders that made my March 2018¿
OnDeck and Quarterspot and Snap Advance with the 18 month terms. National Funding with the 15 month terms and opportunity for 20 PT upsell, at a 1.15 buy rate. Mckenzie and Strategic came in clutch on a couple of deals.
When a merchant needs a position and needs it quick?
Pearl (Andrew Bendel and A Baron do it like Flash Gordon) Yellowstone (A Dahan and his team and the support is stellar) EBF and Vital Cap also quick on the trigger to fund deals that qualify.
I had some tough deals with industry type and past bankruptcies and Cooper Asset is amazing to simply make it happen!!!Disclaimer
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World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
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03-30-2018, 10:34 AM #17
Weird Month from beginning to end. Deal quality on a whole way down but the deals that did get done were all big deals with a couple huge ones in there to make it a good month from a funded amount perspective. If I look at approval rates compared to submissions on that side I would say the month was sub par, ton of declines. Weird Month but definitely not a bad one
In terms of funders at the end of the month everyone is pushing to get deals done really dont know any that aren't. Everyone has numbers to hit so everyone is pushing. Thats what I see anywayJohn Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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03-30-2018, 10:43 AM #18
- Join Date
- Oct 2016
- Posts
- 4,318
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03-30-2018, 01:10 PM #19Karen37aGuest
Cooper Asset helped me fund someone who was in business since 1902 or 1908 last week..i had sent it to one other person who said ..."is that an 08"
I sent a articles of inc from way back in olden ages lol
tough deal because he had liens but well-established company that was making 10 million last year...they did help me get it done.
Funded and paid quickly
So its been a weird month...other than 15 people trying to fund one client( another one) and almost killing me over it because the guy makes big money...geezLast edited by Karen37a; 03-30-2018 at 01:27 PM.
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03-30-2018, 04:17 PM #20Disclaimer
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World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
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03-30-2018, 04:20 PM #21
- Join Date
- Jun 2017
- Posts
- 2,049
Beginning of the Month we funded soooooo many small small deals. Deal count was up but volume was down....
Then this last week we crushed it and got up to our goal.
Good Month.
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03-30-2018, 04:20 PM #22Karen37aGuest
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03-30-2018, 04:24 PM #23Karen37aGuest
There are other people who pay fast ...24 hours....72...3 days....
I do not like to give away all the money secrets so there is none left for me( to fund)...i have my private stash too...i will never tell lolLast edited by Karen37a; 03-30-2018 at 05:13 PM.
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04-06-2018, 02:42 PM #24
- Join Date
- Apr 2018
- Posts
- 104
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04-06-2018, 03:24 PM #25Disclaimer
This message brought to you by:
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World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
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