[briandario]

I'm looking for lenders that go beyond 13 months.

[Sachip24]

Ondeck, Principis, IOU, CanCapital, Strategic.. most tier 1 lenders will go out over 13 months.

[Michael I]

who is the lender that caps at 13 months ? i know 6 ,9 ,12 , 15 ,18 and 24 month cap but never meet a lender with a 13 month cap .

[briandario]

Pearl is one that caps at 13. Who goes to 24? Principus is capped at 18.

[fundingsmbs]

I have heard from several companies that the credit quality of deals has downgraded in the space. what once was A paper is now getting closer to a B paper. Also, the reality is with so much layering, what funders want the bulk of their broker business going out 18 months when the merchants can go out and stack after a month or two or sometimes right after funding. the data is pouring in....

[DiamondBL]

BreakOut goes out 24 Months - we just got one going out that long today.

[Michael I]

Pearl is one that caps at 13. Who goes to 24? Principus is capped at 18.

breakout

[fundingsmbs]

BreakOut goes out 24 Months - we just got one going out that long today.

did it fund? we tried them a few months ago and everything was declined and found other A players that funded those deals no problem. it felt like they wanted bankable only deals. Just wasn't a fit. good for you though if you have success with those terms

[patrickw]

OnDeck! I closed 7 deals with Ondeck this month so far, out of them 4 were 18 months term.

80K 18 months 112K Payback 1,445 weekly - Just closed it yesterday.

[DiamondBL]

did it fund? we tried them a few months ago and everything was declined and found other A players that funded those deals no problem. it felt like they wanted bankable only deals. Just wasn't a fit. good for you though if you have success with those terms

Oddly enough- just got a decline because of how the merchant does business...
Paypal and Amazon... kind of odd because OnDeck and IOU are coming hard with awesome pricing and terms but only up too 12/15 months respectively.

[Cfairbank]

did it fund? we tried them a few months ago and everything was declined and found other A players that funded those deals no problem. it felt like they wanted bankable only deals. Just wasn't a fit. good for you though if you have success with those terms

That is fair feedback, as we do underwrite differently than all "funders", and differently than most lenders in this industry; but we do have a suite of products, some secured some unsecured --> So we end up with the extreme 80/20 rule in the broker market, and our top brokers have much higher approval rates -> and while we cherish and will continue to grow and support our ISO partners, we do more business direct or via partnership based than through the ISO channel. In the ISO market, unless the business is B2B or G2B, I'd agree we target clear A paper for our monthly pay product (but will fund companies that aren't "bankable") and the offers should be strong for that type of paper (and we offer up to $500k (occasionally up to $1mm) now and continue to offer 18 and 24 month terms consistently). However, in the suite of products we have built that we fund ourselves, we do offer a product (currently only available to strategic partners) that can fund a WIDE variety of credit profiles for businesses that are B2B or G2B (both prime and sub) and our close rate is >50% --> and this product is NOT based on the credit of the small business, even though it is structured (in appearance) as a cash flow loan.

Just the past week or so, a few notable examples (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.

[abfunders]

Oddly enough- just got a decline because of how the merchant does business...
Paypal and Amazon... kind of odd because OnDeck and IOU are coming hard with awesome pricing and terms but only up too 12/15 months respectively.

Lendvo and Snap
I got an awesome offer from Snap on an Amazon seller that beat the heck out of OnDeck. They need a minimum of 5 deposits. He was doing real merchandise sales, not just drop shipping.
GRP will need 7 deposits, also goes out up to 18 months.

[Sachip24]

every deal we have sent to Breakout gets killed, majority fund within 48hrs with other lenders.

[fundingsmbs]

Lendvo and Snap
I got an awesome offer from Snap on an Amazon seller that beat the heck out of OnDeck. They need a minimum of 5 deposits. He was doing real merchandise sales, not just drop shipping.
GRP will need 7 deposits, also goes out up to 18 months.

GRP sold to BFS in 2015? Where you been abfunder?

Snap has good terms sometimes rates are high but will go out longer.

[Richard Gomez]

I have done 500k+ deals over 20 months with Mulligan Funding in San Diego. I recommend you sign up boys & girls

[fundingsmbs]

Now you did it Richard, every tom dick and harry will be calling them. what I understood was they want a small pool of iso business they trust. they don't want the stack-a-thon club to enroll. you are correct they are a solid A paper co, sometimes slow as no automation is in place like a few others, so, can be 24 hours for offers from submission. renewals are ok, 4 point drop from new. some like that others will complain.