Results 1 to 25 of 26
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07-13-2018, 11:38 AM #1
- Join Date
- Aug 2017
- Location
- New York City
- Posts
- 199
Goldman Sachs "Marcus"
Just lost a deal to Goldman Sachs marcus program or whatever it was called. I had 12 months 1.23 thought it was a layup to then find out the guy got 3 years 1.07 from this program
When did this start and please tell me its almost impossible to qualify or something lol
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07-13-2018, 11:42 AM #2
- Join Date
- Mar 2017
- Location
- Nunya
- Posts
- 830
https://www.bloomberg.com/news/artic...e-middle-class
20 percent of Marcus borrowers at the end of last year had credit scores lower than 660, which would put them in the subprime category.
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07-13-2018, 11:46 AM #3
- Join Date
- Oct 2016
- Posts
- 4,318
They need an ISO program that pays 8 points on a 1.07
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07-13-2018, 11:46 AM #4
- Join Date
- Aug 2017
- Location
- New York City
- Posts
- 199
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07-13-2018, 11:46 AM #5
- Join Date
- Aug 2017
- Location
- New York City
- Posts
- 199
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07-13-2018, 12:02 PM #6
- Join Date
- Dec 2016
- Location
- Brooklyn N.Y.
- Posts
- 428
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07-13-2018, 01:43 PM #7
- Join Date
- Aug 2014
- Posts
- 194
I got one of their letters back in early 2017. Personal loan, from what i remember it was a max of $40k. Similar to prosper and discover personal loans. I wouldn't think it would be much competition for MCA?
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07-13-2018, 02:01 PM #8
- Join Date
- Jan 2014
- Posts
- 1,375
they are going after everyone. Ive seen their mailers they send out its not even to just business owners they send it to everyone. They are going hard to capture market share
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07-13-2018, 02:03 PM #9Karen37aGuest
that program has been around for a bit..
Thats why I have been saying ...regulation = a no no
pay pal goldman...google ventures ...some other really big players will be left and 1 % commission ( if you could ever get in there to do business and most won't be able to)
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07-13-2018, 02:04 PM #10Karen37aGuest
This is also why I said last year I moved my target market from A ....to a minus b c d
Id rather not compete in that minefield
My decision had nothing to do with my character and integrity or inability to get thru background checks( stock fraud)
I can see things coming in advance ...lucky me ( which means you are always going against popular opinion ...selling into the high when everyone is buying ..and buying into the lows when everyone says you are a sucker and stupid)Last edited by Karen37a; 07-13-2018 at 02:47 PM.
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07-13-2018, 02:26 PM #11Karen37aGuest
On a positive note.
A lot of money goes into the acquisition of a client ( first loan/advance)....and in a split second and minimal costs they are stacked.
So my plan is ... if they are in a loan( credit card anything) 1st ( not mca loan ) ... i place 2nd with Mca partners if I can get it .
I see them as a new target market ( if I can get to it), we shall see how it pans out ....if they force regulation they are knocking us off the back ( some planned it)
"You Fought with Wallace ...now fight with me...freeeeedooom"
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07-13-2018, 02:29 PM #12
Do they accept ISO?
Patrick Wilson
Managing Partner
www.PremierCapitalNetwork.com
(NO MORE LENDER/FUNDER CALL PLZ)
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07-13-2018, 02:29 PM #13Karen37aGuest
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07-13-2018, 02:36 PM #14Karen37aGuest
I just want to mention,,...thru all that fighting. I had said that A paper was the one who was going to get hurt ...not D paper.
And if you want to deliver all the A paper independent brokers over to B/C/D paper, and all the phone sales people and isos ... I was fine with it
Everyone have a great weekend
ADD**** AND. if you had a fiduciary responsibility or fiduciary duty like some wanted.. you would be OBLIGATED to meet or beat the 1.07 or be in BREACH of your Fiduciary responsibility and be sued.
SO..When I was arguing on the DF ( not with west coast) or the other who was too inexperienced to understand. I was arguing with the Devil himself ...trying to take ALL of you OUT..but what did some of you do?
join in and yell at me..thanks 2 thumbs up.
sink or swim... the 1099 cold callers will pound the phone...see you all next weekLast edited by Karen37a; 07-13-2018 at 02:58 PM. Reason: add*
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07-13-2018, 03:15 PM #15
- Join Date
- Oct 2016
- Posts
- 4,318
Karen, knock it off.
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07-13-2018, 03:19 PM #16Karen37aGuest
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07-13-2018, 03:38 PM #17
- Join Date
- Feb 2018
- Posts
- 1,349
the personal loan space has a much wider base of users than the mca space. it is going gang busters right now with a lot of companies pushing personal loans to consumers nationwide. marcus is just one of many. I don't think any studies have been done to see the impact it has on the mca space, but, my assumption is if a borrower can get up to $40,000 at a much lower rate and terms 2--4 years, they will turn down a 12 mo mca offer right away. the flip side to this is, the loans are pg'd so if the borrower defaults, they are personally on the hook for the debt, but, that is no different than lenders who do "loans" in our space that require a PG as well. This is where the MCA product can thrive as it's a performance guarantee and you should explain that to anyone who objects due to a personal loan offer. But, what we may simply see is, a lot of folks indebted by mcas, personal loans, credit cards, all at once.....in other countries credit card debt was not an issue as personal loans were the main product for borrowers, In the USA, its going to be all of the above. kind of scary if an economic dip occurs.
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07-13-2018, 03:40 PM #18
- Join Date
- Dec 2013
- Posts
- 4,713
I am almost certain Marcus by Goldman is a personal 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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07-13-2018, 03:44 PM #19Karen37aGuest
Last edited by Karen37a; 07-13-2018 at 03:46 PM.
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07-13-2018, 04:19 PM #20
- Join Date
- Jan 2014
- Posts
- 1,375
all the big banks area already in the game in one way or another. Once they get enough market share they will pay millions beyond millions and start lobbying for regulation to wipe out anyone else left.
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07-13-2018, 04:34 PM #21
- Join Date
- May 2018
- Posts
- 70
Yes, Marcus is a personal loan. I just got funded the other day. It was great. Simple online application, uploaded paystub and banks, and got funded via ACH. Soup to nuts it took 2 days.
No fees, no prepay penalty, 36 months (could have gone to 48 but didnt need to). Setup autopay on the date of the month that I wanted, and I can change that any time. Online account with real-time balance info, credit score monitoring, the whole nine.
Sweet product, but I dont see it being meaningful competition to MCAs, especially among the higher risk products.
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07-16-2018, 02:47 PM #22
- Join Date
- Feb 2017
- Posts
- 3,432
If anyone wants to be able to fund personal loans and make money off of it, jump in over here:
http://fundingclient.com?p=G2872&w=newpartners
These guys really know their beans, and you don't need to do any work, and there's an up-sell on their paper. You just collect credit report, submit, schedule a phone call. They'll do everyone A to Z from sell to close. You relax, focus on the deals you know how to close, and get paid when it's done. Minimum 680+ FICOs and not endless inquiries or balances on their credit cards.
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07-16-2018, 07:29 PM #23
First off its Goldman Sac's - you should see the commercials...... They have an insane media budget.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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07-18-2018, 03:21 PM #24
- Join Date
- Aug 2017
- Posts
- 405
What do they charge 10% for credit cards? or do they do offer personal MCA loans?
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07-18-2018, 03:27 PM #25
- Join Date
- Feb 2017
- Posts
- 3,432
If you referring to my link I posted, they charge the client for 0 APR cards. It's on their paper, you're doing the up-sell. They also figured out a way to monetize some of the online personal term loan lenders. There's no such thing as a personal MCA - those are straight-up LOANS.
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