Results 1 to 21 of 21
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04-24-2018, 12:49 PM #1
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- Dec 2017
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- Brooklyn, New York
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- 7
Looking for a Direct Lender
Looking for an A+ Paper direct lender who offers an early payoff discount like quarter spot (interest forgiveness) for a merchant with a track record of paying off early generally within 2-3 months from funding.
NOT INTERESTED IN CO BROKERING SO IF YOU ARE NOT A DIRECT LENDER & YOU ARE GOING TO TELL ME YOU SYNDICATE WITH THE DIRECT LENDERS OR YOU HAVE BETTER RELATIONSHIPS WITH LENDERS THAN STAY AWAY!!!
Feel free to reach out at 718-362-6213Last edited by The Price is Right; 04-24-2018 at 01:15 PM.
Tony Price
VP of Sales - Biz Advance Now Inc
T: (718) 362-6213 | F: (718) 360-6973
Linkedin: Profile
Email: Tony@BizAdvancenow.com
www.BizAdvanceNow.com
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04-24-2018, 06:04 PM #2
Reputation points: 8447
- Join Date
- Jul 2015
- Location
- Tampa Florida
- Posts
- 503
We are a direct lender that specializes in credit card split deals only. We have a great renewal product where we advance the renewal funds after the first 30-90 days and don't start collecting on them until the first position pays off. We don't double dip the merchants.
Jason H l Sales & Business Development
Quikstone Capital Solutions l Tampa FL
Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
Jason.Hausle@quikstonecapital.com
www.quikstonecapital.com
Direct Lender Since 2005
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04-24-2018, 06:34 PM #3
Reputation points: 24139
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- Apr 2014
- Location
- Washington DC
- Posts
- 421
Now that is a quality product
--> i dont know this company personally, but double dipping costs firms SO much money and most lenders in this space still do it --> when you find one that doesnt, should indicate a strong ethical foundation and what I would look for in a good partner. Kudus taking that stance!!!!
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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04-24-2018, 06:37 PM #4
Reputation points: 24139
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- Washington DC
- Posts
- 421
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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04-25-2018, 11:51 AM #5
Reputation points: 54989
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- Dec 2013
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Mantis is a Direct Merchant Cash Advance company using in-house capital ..(However we don't offer a LOAN product).
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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04-25-2018, 12:56 PM #6
That's probably gonna be your best bet. Breakout is an exceptional A paper lender. If for whatever reason you need another, I would say IOU Financial does something similar, charging simple interest. I'm not sure if they get as aggressive as Quarterspot on the term though...
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04-25-2018, 01:06 PM #7
Reputation points: 1305
- Join Date
- May 2016
- Posts
- 42
Tony - I can give you a call shortly but as Carl mentioned, we offer very aggressive early repayment schedules with our loans. For example, if a customer was offered $100k over 24 months at a 1.31x buy rate and 5 pt upsell, the total interest on the 60 day repayment of the loan would be reduced from $36k down to $10k (5 pts for buy rate and 5pts for your upsell). I know we work a lot with your colleague Abe but more than happy to review the benefits of our products with you directly.
Thanks,
Steven Safirstein
Vice President of Sales & Head of ISO Relations
Breakout Capital Finance, LLC
6862 Elm Street, Suite 300, McLean, VA 22101
O: 703 852 6013 I steven@breakoutfinance.com
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04-25-2018, 01:22 PM #8
Reputation points: 54989
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- Dec 2013
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does breakout fund merchants in the 500 credit score profile ?
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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04-25-2018, 01:34 PM #9
Reputation points: 158630
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- Jul 2015
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- 1,202
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04-25-2018, 01:49 PM #10
Reputation points: 3706
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- Jan 2017
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- 389
We would be able to help you, looking forward to funding your deals.
Paul Boxer
Merchant Marketplace
Chief Operating Officer
Chief Revenue Officer
Cell: (516) 805-9209
paul@merchantmarketplace.com
www.merchantmarketplace.com
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04-25-2018, 02:18 PM #11
Reputation points: 24139
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- Apr 2014
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- Washington DC
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- 421
Marcus, yes, through one of our products (that is proprietary to Breakout), we absolutely fund sub 500 FICOs with credit card-like APRs and as a TERM LOAN (not factoring). as stated on prior thread, we recently funded a government SUB contractor (not the even the PRIME) that had a 470 FICO for around $550K at a very reasonable APR.
exactly. Has to be B2B or GC (we are not factoring, still just a term loan)Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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04-25-2018, 08:17 PM #12
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04-25-2018, 11:21 PM #13
FactorAdvantage. I get it now. Nice stuff!
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04-26-2018, 12:58 PM #14
Reputation points: 24139
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- Apr 2014
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- Washington DC
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- 421
posted in another section but will repost it here --> killer product that we originate almost exclusively strategically so far, but solely due to the crazy high demand (and we are not actively marketing this product given demand).
Just the past week or so, a few notable examples for FactorAdvantage (note all these deals are FUNDED AND HELD ON OUR BALANCE SHEET/credit facilities):
1. $640k Loan with ZERO net paying off 7 balances to a sub 600 FICO at an APR in the low 30s; so a factor rate equivalent of a 1.14x for 1 year for a zero net, seven position buy out.
2. $550k loan to a 470 FICO merchant with over 200k in tax liens with APRs in the 20s.
3. $1mm loan to consolidate several advances and serve as a line of credit going forward in the 20s APR
If your clients are b2b or g2b, feel free to reach out to us and we will consider expanding access to this product. And to be clear, this is NOT a factoring product; the business has to be "factorable". It does not matter if a factor is already in place or whether or not liens are present (depending on size relative to income). Given the strategic synergy of partnership originations coupled with the complexity (supported by two patents) of the technology solution to de-risk a 470 FICO or a 7 position deal to make an affordable loan (assume 20s%) to a subprime client.
Again, this is a completely different loan than our normal loan, and if parameters, including the AR/AP requirements relative to revenue (still a cash flow based loan, just priced off of collateral we "create") are hit, approval rate is multiples higher than our traditional lending business.Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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05-01-2018, 02:22 PM #15
Reputation points: 624
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- Nov 2014
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- 438
Great fit for LoanMe. We can offer A+ borrowers term loan interest rates from 14.9%-24.9% on 120 month terms- giving them lower more affordable minimum monthly payments. These are simple interest term loans with no pre-payment penalties so borrowers pay interest for the time the keep the funds. Our loans should be use for short term 3-10 months to control total cost of capital.
LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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06-05-2019, 08:19 PM #16
Reputation points: 24
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- Jan 2019
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- 117
Hi Carl. I realize this thead is a year old, but it caught my eye. Is the 1.05 factor on early payoffs a rate that you can still do? What is the original rate and term? I have a merchant in a restricted industry, bail bonds, doing 400k monthly revenues, 20 years tib,with 710 credit seeking 50k. Also, I'm wondering if Breakout is taking on new isos yet.
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06-05-2019, 08:21 PM #17
Reputation points: 3229
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- Jul 2017
- Posts
- 105
try Russ at EIN cap
Direct Funder | MCA | Public Companies | Convertible Notes | Hard Money
D. 516-667-6817
paul@coolidgecapital.com
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06-06-2019, 05:41 AM #18
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06-06-2019, 09:49 AM #19
breakout is still not funding.
John 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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06-06-2019, 10:13 AM #20
Reputation points: 242074
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- Feb 2017
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I just got an email from QuarterSpot that they're funding:
Faster Funding
We’ve expedited the underwriting and closing processes for faster funding. That means decisions in minutes and loans in less than 24 hours.
Any actual updates from the broker channels if they're worth submitting to anymore?
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06-10-2019, 02:40 PM #21
Reputation points: 24
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- Jan 2019
- Posts
- 117
thanks!
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