Results 1 to 7 of 7
-
10-20-2018, 11:13 AM #1Karen37aGuest
Apples to Apples Comparison Disclosure
https://www.nav.com/blog/whats-your-...writing-22154/
This is an example on the site Nav. Which helps merchants/business establish business credit and they also offer * refer cash advances to the merchants thru their portals and Loans
To collect on the purchase, the MCA company might keep 15 percent of the daily processing volumes of the business until the full purchase is complete. Here’s an example of what this deal might look like on the purchase agreement:
Advance Amount: $45,000
Factor rate: 1.30
Total Purchase Amount: $58,500
Holdback: 15 percent
Note: The full purchase amount should be satisfied in about 8.6 months
The “sister product” to the MCA is that of the alternative business loan, which is a real business loan with origination fees, fixed terms, and approval equating to around 10% of the annual gross sales of a business. For example, a lender might approve a business doing $1 million in sales for $100,000 on a 12 month term. Here’s an example of what this deal might look like on a loan agreement:
Loan amount: $100,000
Origination fee: $1,500 (based on 1.5 percent of the loan amount)
Disbursement amount: $98,500
Total cost expense (including interest): $30,000
Total repayment amount: $130,000
Daily Payment: $515.88 (252 business day payments over the next 12 months)
To make a real apples to apples comparison on a Cash advance 12 months
Advance Amount: $100,000
Factor rate: 1.30
Total Purchase Amount: $130,000
12 month Estimated payoff
Daily Payment 515.8730 based off 21 payments 12 months
Mine will be funded Sometimes 15 mins from the last document submitted with fewer documents required
And I closed the 100k yesterday
I can also do an instant analysis on the % hold back on the months to make it = 515 fluctuating between 300-600
Restaurants have big weekends
It is still going to equal 130k`
Gl Hold onto your applications, trust but verify.. not everything is what it seems
Money cost XLast edited by Karen37a; 10-20-2018 at 12:49 PM.
-
10-20-2018, 12:32 PM #2Karen37aGuest
And here is kabbage
https://www.kabbage.com/what-it-costs/loan-calculator/
12 Month
Fee Rate
4.0%
How are fees calculated?
Payment Schedule
Principal
$100,000
Total Fees
$30,000
Early Payment Savings
Move the slider to preview your potential savings.
$0
|||
Pay off in 12 Months
Total Loan Cost
$130,000
C
Month Principal Fee2 Total
1 $8,333 $4,000 $12,333
2 $8,333 $4,000 $12,333
3 $8,333 $4,000 $12,333
4 $8,333 $4,000 $12,333
5 $8,333 $4,000 $12,333
6 $8,333 $4,000 $12,333
7 $8,333 $1,000 $9,333
8 $8,333 $1,000 $9,333
9 $8,333 $1,000 $9,333
10 $8,333 $1,000 $9,333
11 $8,333 $1,000 $9,333
12 $8,333 $1,000 $9,333
Total $100,000 $30,000 $130,000
That was based off of 4 % fee and their fees range from
range from 1.5% to 10% based on their internal factors
With the majority of the "fee" paid off of the first 6 months on a 12-month loan
It would be 100k to pay back 166k based on 10%
Principal Fee2 Total
1 $8,333 $10,000 $18,333
2 $8,333 $10,000 $18,333
3 $8,333 $10,000 $18,333
4 $8,333 $10,000 $18,333
5 $8,333 $10,000 $18,333
6 $8,333 $10,000 $18,333
7 $8,333 $1,000 $9,333
8 $8,333 $1,000 $9,333
9 $8,333 $1,000 $9,333
10 $8,333 $1,000 $9,333
11 $8,333 $1,000 $9,333
12 $8,333 $1,000 $9,333
Total $100,000 $66,000 $166,000
__Last edited by Karen37a; 10-20-2018 at 12:50 PM.
-
10-20-2018, 01:18 PM #3
Reputation points: 503040
- Join Date
- Oct 2016
- Posts
- 4,318
I love getting baked on Saturday mornings, but I’m unsure if your comments are ****ing up my high or enhancing it.
-
10-20-2018, 01:20 PM #4
-
10-20-2018, 01:26 PM #5Karen37aGuest
Here to get you back into your calif , staw mood..I played this once for you before
https://www.youtube.com/watch?v=8bjzuSO27fA
Midnight at the oasis
Send your camel to bed
Shadows painting our faces
Traces of romance in our heads
Heaven's holding a half-moon
Shining just for us
Let's slip off to a sand dune, real soon
And kick up a little dust
Come on, Cactus is our friend
He'll point out the way
Come on, till the evening ends
'Til the evening ends
You don't have to answer
There's no need to speak
I'll be your belly dancer, prancer
And you can be my sheik
-
10-22-2018, 01:11 PM #6
Reputation points: 45092
- Join Date
- Aug 2016
- Posts
- 275
"high on pot" lol
-
10-22-2018, 01:17 PM #7Karen37aGuest
Similar Threads
-
CA Disclosure Rules are Here-
By BB_Cooper in forum Merchant Cash AdvanceReplies: 13Last Post: 09-14-2018, 11:21 AM -
The California Business Loan & MCA Disclosure Bill
By Karen37a in forum Merchant Cash AdvanceReplies: 54Last Post: 09-12-2018, 09:47 AM -
APR disclosure
By channin19 in forum Merchant Cash AdvanceReplies: 6Last Post: 05-06-2016, 08:19 AM