Lenders/Funders that do not use COJs

**Lendvo** · 12-03-2018, 02:36 PM

We've never used COJs @Lendvo. But I think everyone would benefit from a list of funders who don't use these ?

**WestCoastFunding** · 12-03-2018, 02:45 PM

Originally Posted by Lendvo

We've never used COJs @Lendvo. But I think everyone would benefit from a list of funders who don't use these ?

I can’t think of a single advance company that only does 1st positions that uses them.

**fundingsmbs** · 12-03-2018, 03:08 PM

all of this is aimed at the 800lb coj funder and other co who got nailed using them and merchant's complained. the first position space would benefit from seeing YSC and others gone obviously so they must have an interest in these articles.

**kpeng** · 12-03-2018, 04:45 PM

A lot of companies don't use them. Ourselves included.

**fundingsmbs** · 12-03-2018, 04:56 PM

yes, first positions do not use them. 2nd+ almost all do especially larger size

**Atlas Financial** · 12-03-2018, 04:58 PM

I think you really see COJs on the positions that creep into the high 20s, low 30s for "purchase percentage" of future receivables.

**Jason Sterling** · 12-03-2018, 05:30 PM

We never have used COJ's in our 13 years offering MCA's

**Don Dolla** · 12-03-2018, 11:50 PM

Pretty sure elevate has been getting crushed in the mca space, stick to your credit card games ken

**Don Dolla** · 12-04-2018, 12:24 AM

Growing losses

Elevate recorded revenue of $580.4 million in 2016, up from $434 million in 2015, but net losses grew from $19.9 million in 2015 to $22.4 million in 2016. And roughly half its loans may never be recovered: The company reported net charge-offs, which is debt owed to the company that likely will not be recovered, as 52% of revenue in 2016 and 49% in 2015.

**HeatherF** · 12-04-2018, 08:01 AM

Originally Posted by Don Dolla

Pretty sure elevate has been getting crushed in the mca space, stick to your credit card games ken

Wrong Elevate... We are Elevate Funding not Elevate (Consumer product) ....see we put the funding in our name because we only provide MCA and are a direct funder... crushing it since 2014!

**HeatherF** · 12-04-2018, 08:01 AM

Originally Posted by Don Dolla

Growing losses

Elevate recorded revenue of $580.4 million in 2016, up from $434 million in 2015, but net losses grew from $19.9 million in 2015 to $22.4 million in 2016. And roughly half its loans may never be recovered: The company reported net charge-offs, which is debt owed to the company that likely will not be recovered, as 52% of revenue in 2016 and 49% in 2015.

Wrong Elevate

**Michael I** · 12-04-2018, 09:24 AM

elevate funding is great to work with . keep up the good work heather and ken

**J.Celifarco** · 12-04-2018, 09:48 AM

Originally Posted by Don Dolla

Growing losses

Elevate recorded revenue of $580.4 million in 2016, up from $434 million in 2015, but net losses grew from $19.9 million in 2015 to $22.4 million in 2016. And roughly half its loans may never be recovered: The company reported net charge-offs, which is debt owed to the company that likely will not be recovered, as 52% of revenue in 2016 and 49% in 2015.

Elevate funding is a solid company, Heather and Ken both do a great job and have been in this space a long time. If your going to knock someone make sure you have the story straight and are talking about the right company

**kpeng** · 12-04-2018, 10:10 AM

Originally Posted by Don Dolla

Growing losses

Elevate recorded revenue of $580.4 million in 2016, up from $434 million in 2015, but net losses grew from $19.9 million in 2015 to $22.4 million in 2016. And roughly half its loans may never be recovered: The company reported net charge-offs, which is debt owed to the company that likely will not be recovered, as 52% of revenue in 2016 and 49% in 2015.

**J.Celifarco** · 12-04-2018, 10:19 AM

Originally Posted by kpeng

and we have a winner

**fundingsmbs** · 12-04-2018, 10:45 AM

elevate is a spin off from merchant cash group from FL ?

**kpeng** · 12-04-2018, 10:50 AM

Originally Posted by fundingsmbs

elevate is a spin off from merchant cash group from FL ?

We are not related

**HeatherF** · 12-04-2018, 10:51 AM

Originally Posted by fundingsmbs

elevate is a spin off from merchant cash group from FL ?

No.. we are a totally different company. I left MCG in 2014 to start Elevate Funding. Both our programs and operations are completely different.

**mcaguru** · 12-04-2018, 11:18 AM

Vast % of mantis funded deals do NOT require a COJ.

**WestCoastFunding** · 12-04-2018, 11:19 AM

Originally Posted by mcaguru

Vast % of mantis funded deals do NOT require a COJ.

No COJs up to $10,000 (for the most part), correct?

**mcaguru** · 12-04-2018, 11:57 AM

Correct. We operate one of the largest Micro-Funding-Programs (NO COJ's ever for Micro Program) in the nation! Largest and most reliable "Best Practice Firms" rely on Mantis for their Subprime Files.

**WestCoastFunding** · 12-04-2018, 12:02 PM

Originally Posted by mcaguru

Correct. We operate one of the largest Micro-Funding-Programs (NO COJ's ever for Micro Program) in the nation! Largest and most reliable "Best Practice Firms" rely on Mantis for their Subprime Files.

So what youre saying is: vast majority of Mantis deals are under $10,000?

**swiftcloser** · 12-04-2018, 12:39 PM

....

**mcaguru** · 12-04-2018, 01:03 PM

Originally Posted by WestCoastFunding

So what youre saying is: vast majority of Mantis deals are under $10,000?

I am not saying that.

**Michael I** · 12-04-2018, 01:06 PM

Originally Posted by mcaguru

I am not saying that.

2 plus 2 = 4 to most .
what are you saying?

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