I hate IOU

**ryan $** · 10-31-2018, 11:34 AM

Any Ideas who can beat an 84 Day 100k 1.14 2nd Position from IOU

Dude just cares about cost of money, not daily, 740 Credit , Distribution Company - he qualifies for 100k all day - just need 80 Days 1.14 -i dont care if i make 2 points on deal

**soscap** · 10-31-2018, 11:39 AM

Originally Posted by ryan $

Any Ideas who can beat an 84 Day 100k 1.14 2nd Position from IOU

Dude just cares about cost of money, not daily, 740 Credit , Distribution Company - he qualifies for 100k all day - just need 80 Days 1.14 -i dont care if i make 2 points on deal

We can.

**Davincinc** · 10-31-2018, 11:45 AM

Originally Posted by ryan $

Any Ideas who can beat an 84 Day 100k 1.14 2nd Position from IOU

Dude just cares about cost of money, not daily, 740 Credit , Distribution Company - he qualifies for 100k all day - just need 80 Days 1.14 -i dont care if i make 2 points on deal

let everyone know who funds this cuz 2nd 1.14 would be an epic notation!

**Hedley Lamarr** · 10-31-2018, 11:46 AM

Originally Posted by ryan $

Any Ideas who can beat an 84 Day 100k 1.14 2nd Position from IOU

Dude just cares about cost of money, not daily, 740 Credit , Distribution Company - he qualifies for 100k all day - just need 80 Days 1.14 -i dont care if i make 2 points on deal

Ryan,

If they are a distribution Company they likely have receivables and possibly inventory. Do they have a line of credit that is not supporting the growth?

**ryan $** · 10-31-2018, 11:48 AM

Originally Posted by soscap

We can.

Dave I actually had you in mind - Its coming over

ALso he is good to go today - Submission in route - will sign

**ryan $** · 10-31-2018, 11:50 AM

Originally Posted by kevinhenry0527

Ryan,

If they are a distribution Company they likely have receivables and possibly inventory. Do they have a line of credit that is not supporting the growth?

I may need a crash course in what you offer, im an MCA Rat

**Hedley Lamarr** · 10-31-2018, 11:57 AM

Originally Posted by ryan $

I may need a crash course in what you offer, im an MCA Rat

Shoot me an e-mail and I would be happy to set up a call. Kevin.Henry@SeacoastBF.com

**ryan $** · 10-31-2018, 12:01 PM

I will after this last day of month - Dave at SOS - you guys have it - from ryan @ JD Merchant Capital

**gaxisa** · 10-31-2018, 12:01 PM

Rapid

**ryan $** · 10-31-2018, 12:03 PM

Originally Posted by gaxisa

Rapid

Rapid wont do a 2nd

**gaxisa** · 10-31-2018, 12:20 PM

Originally Posted by ryan $

Rapid wont do a 2nd

Oops didn't read everything.

**fundingsmbs** · 10-31-2018, 12:22 PM

Dave, what term length and rates do you offer? Most seconds seem to have buys in the 1.26+ range

**fundingsmbs** · 10-31-2018, 12:22 PM

Originally Posted by ryan $

Rapid wont do a 2nd

def not, they sued Pearl for that

**ryan $** · 10-31-2018, 01:19 PM

Waiting on SOS......

**ryan $** · 10-31-2018, 02:34 PM

Killing me Dave.

This is a GREAT File.

Need a response

**soscap** · 10-31-2018, 02:41 PM

Originally Posted by fundingsmbs

Dave, what term length and rates do you offer? Most seconds seem to have buys in the 1.26+ range

Our standard 2nd is offered at a 1.20 buy rate. We can get aggressive with a pre pay.

**ryan $** · 10-31-2018, 02:55 PM

Originally Posted by soscap

Our standard 2nd is offered at a 1.20 buy rate. We can get aggressive with a pre pay.

You did give us a 1.13 for 4 Months - With a Prepay (its an 8 Month Deal)

I just requested a 1.13 with a 4 month deal - he doesnt want to prepay just wants the daily ACH to be more and pay off in 4 months.

This seems reasonable, he just wants the payments to come automatically doesnt want to have to make extra payments

**soscap** · 10-31-2018, 03:00 PM

Originally Posted by ryan $

You did give us a 1.13 for 4 Months - With a Prepay (its an 8 Month Deal)

I just requested a 1.13 with a 4 month deal - he doesnt want to prepay just wants the daily ACH to be more and pay off in 4 months.

This seems reasonable, he just wants the payments to come automatically doesnt want to have to make extra payments

Issue with this is that it's an MCA. If the merchant calls in that he's struggling we would have to lower our payments. The term on this deal would increase and we'd only be able to net our 1.13...

**ryan $** · 10-31-2018, 03:03 PM

Thumbs up to SOS - DL VC out - Contract Requested

**mcashark** · 10-31-2018, 03:07 PM

working directly with the CEO, that is the way with these smaller shops, nice work!

**DiamondBL** · 10-31-2018, 03:27 PM

I feel like I was in the email chain ~ awesome work-

**MidnightAdvance** · 11-01-2018, 12:39 AM

Originally Posted by ryan $

Thumbs up to SOS - DL VC out - Contract Requested

In the end this funded??

**WestCoastFunding** · 11-01-2018, 08:25 AM

This thread is a huge success for SOS.

**ryan $** · 11-01-2018, 02:57 PM

It didnt fund yet, this isnt a Midnight 6th Position. They Need a SIte Inspection, etc. But Contract is back, waiting o a few remaining stips. The deal is veryyyyyyy clean - I dont see any reason it wont fund.

**ryan $** · 11-02-2018, 02:11 PM

For an Update just to Everyone.
SOS was great to work with. I kind of shy away from them for being Stip Heavy, but when you need good Rates, the stips are totally worth it. The Underwriter Sam has been great to work with. Dave was Great. All in all, Smooth and Easy.

Site Inspection Done, all Stips Satisfied, Funding Call being completed as we speak and wire going out today.

And best of all since he Stacked we can get him away from the 1st Position Lender (Which was IOU as well BTW) and Hopefully have him for a while.

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