[BackDoorAvenger]

Merchant has 700+ Fico, no current positions, stellar banks and has a solid 500K monthly non seasonal revenue stream.
Only looking for 200 on a 12 month.

Am looking for a lender who doesn't play the ' Oh Yeah, on our platinum level we'll give you a 1.14 buy and you can put 5 on and give your customer 1.19 '. Thanks!

Or you can get 12 pts. and charge him 1.26 on our STANDARD program. Thanks again-%$#@#%^$#!!!

Translation- THEY are not giving our pristine files platinum pricing (lower buy) WE ARE PAYING THE 7 POINTS.
That's bull**** in any credit/lending scenario, especially ours. They sure know how to jack you up to 1.49 in a nano second.

Any lenders out there that value a great merchant and are willing to drop THEIR pants ( a little ) to get him?

No lender suggestions that have any hint of bad press on backdooring. Y'all know how I love that !!!

Thanks

[Zonefund]

Merchant has 700+ Fico, no current positions, stellar banks and has a solid 500K monthly non seasonal revenue stream.
Only looking for 200 on a 12 month.

Am looking for a lender who doesn't play the ' Oh Yeah, on our platinum level we'll give you a 1.14 buy and you can put 5 on and give your customer 1.19 '. Thanks!

Or you can get 12 pts. and charge him 1.26 on our STANDARD program. Thanks again-%$#@#%^$#!!!

Translation- THEY are not giving our pristine files platinum pricing (lower buy) WE ARE PAYING THE 7 POINTS.
That's bull**** in any credit/lending scenario, especially ours. They sure know how to jack you up to 1.49 in a nano second.

Any lenders out there that value a great merchant and are willing to drop THEIR pants ( a little ) to get him?

No lender suggestions that have any hint of bad press on backdooring. Y'all know how I love that !!!

Thanks

Go to Colt McDaniel at IOU

[RichardGerard]

If it is as you describe reach out to Jason Fleming at Mulligan. Great guy..

RG

[NickHubbard]

If it is as you describe reach out to Jason Fleming at Mulligan. Great guy..

RG

Richard is spot on! Jason gets it done.

[Yankeeman07]

Merchant has 700+ Fico, no current positions, stellar banks and has a solid 500K monthly non seasonal revenue stream.
Only looking for 200 on a 12 month.

Am looking for a lender who doesn't play the ' Oh Yeah, on our platinum level we'll give you a 1.14 buy and you can put 5 on and give your customer 1.19 '. Thanks!

Or you can get 12 pts. and charge him 1.26 on our STANDARD program. Thanks again-%$#@#%^$#!!!

Translation- THEY are not giving our pristine files platinum pricing (lower buy) WE ARE PAYING THE 7 POINTS.
That's bull**** in any credit/lending scenario, especially ours. They sure know how to jack you up to 1.49 in a nano second.

Any lenders out there that value a great merchant and are willing to drop THEIR pants ( a little ) to get him?

No lender suggestions that have any hint of bad press on backdooring. Y'all know how I love that !!!

Thanks

What buy rate are you seeking on $200K of unsecured funds?

[RichardGerard]

What buy rate are you seeking on $200K of unsecured funds?

Dave, please remember that if it is 1.15 buy rate over 12 months- the APR conversion on that is 27%..

The sharp funders out there understand who is a good risk and who isn't (in most instances), and wouldn't extend competitive MCA pricing unless their team felt exposure was minimal.

When we see a company with a bank loan with a UCC 1 blanket- then see Fundation or Funding Circle on the balance sheet behind that, how exactly are they secured for rates in the teens? A PG? What happens if the guy files a 7?

[Cashman1]

Merchant has 700+ Fico, no current positions, stellar banks and has a solid 500K monthly non seasonal revenue stream.
Only looking for 200 on a 12 month.

Am looking for a lender who doesn't play the ' Oh Yeah, on our platinum level we'll give you a 1.14 buy and you can put 5 on and give your customer 1.19 '. Thanks!

Or you can get 12 pts. and charge him 1.26 on our STANDARD program. Thanks again-%$#@#%^$#!!!

Translation- THEY are not giving our pristine files platinum pricing (lower buy) WE ARE PAYING THE 7 POINTS.
That's bull**** in any credit/lending scenario, especially ours. They sure know how to jack you up to 1.49 in a nano second.

Any lenders out there that value a great merchant and are willing to drop THEIR pants ( a little ) to get him?

No lender suggestions that have any hint of bad press on backdooring. Y'all know how I love that !!!

Thanks

Why not 18 months

IOU, Quaterspot, go out that long!

[Yankeeman07]

Discounting the fact that MCA are not loans, therfore APR is not calculated, but I get your point.

I'm always amazed that a business owners is as clean as the poster states, why are they looking at MCA for 200K in funding.
Why not a SBA Loan, No Prepayment penalty if they only needs the funds for 12 months

$150K @ 8% current estimated payment is $1825.00 per month.

I know they claim to be seeking $200K, but, many times a merchant needs less when it comes down to the real purpose of the need for funds.

[abfunders]

Because and SBA sucks the living daylights out of merchants, both with the timing (60-90 days) and the general UCCs, taking over their entire life.
At least a year term gives the self-discipline to repay it on time. How many merchants just have too much debt?
It can be "clean" but the SBA loan is on top.

Better than an SBA is a LOC, but, of course, very few brokers on this forum can afford NOT to get 5-10 points per deal, based on how their shops are set up.

[Yankeeman07]

Because and SBA sucks the living daylights out of merchants, both with the timing (60-90 days) and the general UCCs, taking over their entire life.
At least a year term gives the self-discipline to repay it on time. How many merchants just have too much debt?
It can be "clean" but the SBA loan is on top.

Better than an SBA is a LOC, but, of course, very few brokers on this forum can afford NOT to get 5-10 points per deal, based on how their shops are set up.

I can have SBA Loans completed within 45-60 days ( The Exception is that currently Uncle Sam is partial shut-down)

[Steven_O]

( The Exception is that currently Uncle Sam is partial shut-down)

Exactly!

[RichardGerard]

Because and SBA sucks the living daylights out of merchants, both with the timing (60-90 days) and the general UCCs, taking over their entire life.
At least a year term gives the self-discipline to repay it on time. How many merchants just have too much debt?
It can be "clean" but the SBA loan is on top.

Better than an SBA is a LOC, but, of course, very few brokers on this forum can afford NOT to get 5-10 points per deal, based on how their shops are set up.

Happy New Year Micah.. Yes Institutional debt can be a protracted wait- but the juice in many instances is worth the squeeze. When the clients have a clear path to a real loan we often assist them with Bridge Capital to get to the finish line- that way the brokers get an advance AND a long term loan for the client (as well as their trust moving forward).

[OC Funder]

I can have SBA Loans completed within 45-60 days ( The Exception is that currently Uncle Sam is partial shut-down)

The majority of MCA candidates are (or should be) using the funds for an urgent need/opportunity that cannot wait 60 days. For others, they find value in the simpler process that outweighs the money they'd save.

As to the OP, I think brokers need to understand that if funders gave you the buy rates you demand with the upsell you feel you deserve, they would go broke. A paper still defaults, and MCA paper is difficult to collect on when it goes bad. Given that they are paying these commissions upfront and have a cost of capital, the product has to be expensive to make it worth offering. You can't have your cake and eat it too, and If you can't create value for your merchants at the rates the market currently offers you are probably in the wrong business.

[Christian]

Kalamata. Or, if you want to give them an unbeatable deal then send to Fundation for a 12 month, fully amortized term loan that no MCA count touch (but you only make 3 on it).

[BackDoorAvenger]

Why not 18 months

IOU, Quaterspot, go out that long!

Yes! It always comes down to payment. QuarterSpot was the first that I was sending him to today- with the longer term. Will run the scenario past some others mentioned and see what shakes out. Always thought of Mulligan as the guy that you could send bad stacks to- not A+ Merchants. Thanks Cashman

[Don Dolla]

merch is overqualified and your username is gay or homophobic

[BackDoorAvenger]

merch is overqualified and your username is gay or homophobic

The really SUPERCOOL Name Don Dolla was already taken- impressive rhyming skills....for a first grader.

How about you stick to posts that show that you possess more than one brain cell and don't waste intelligent working people's time reading this juvenile horse****. Maybe you can go walk around the mall and find some thirteen year old's and you can stand there and rank on each other.

This site's purpose is to be a forum to give all the serious professionals of this very tough industry an edge by annihilating the thieves and illuminating the new innovative lenders and the new product lines of the established lenders. I am always so impressed by the generosity of the intelligent people that contribute. The time and research that is invested- simply to help and to make a difference for everyone who read DF for factual insight. There are always the same dozen or so leading the charge- West Coast, ABFunders, John Celifarco, Broker Time, Michael I, Christian, FundingSMBS, ETC. They aren't trivial- they are intellectuals that always bring something substantial to the table.

Getting back doored is real and relevant to THIS industry and you Don Dolla.... are not.

[Chambo]

Merchant has 700+ Fico, no current positions, stellar banks and has a solid 500K monthly non seasonal revenue stream.
Only looking for 200 on a 12 month.

Am looking for a lender who doesn't play the ' Oh Yeah, on our platinum level we'll give you a 1.14 buy and you can put 5 on and give your customer 1.19 '. Thanks!

Or you can get 12 pts. and charge him 1.26 on our STANDARD program. Thanks again-%$#@#%^$#!!!

Translation- THEY are not giving our pristine files platinum pricing (lower buy) WE ARE PAYING THE 7 POINTS.
That's bull**** in any credit/lending scenario, especially ours. They sure know how to jack you up to 1.49 in a nano second.

Any lenders out there that value a great merchant and are willing to drop THEIR pants ( a little ) to get him?

No lender suggestions that have any hint of bad press on backdooring. Y'all know how I love that !!!

Thanks

Question: You are asking lenders to risk their funds and drop their pants (even a little). What about you? Are YOU willing to drop your pants to get the deal done? Or are you going to hold onto the lead for dear life, all the while making zero when he tires and goes elsewhere?

Maybe you could put your money where your mouth is and syndicate a little on this? I'm sure you would get stronger responses if your request wasn't all about "gimme, gimme, gimme" and you showed you are seriously considering a mutual relationship

[BackDoorAvenger]

Question: You are asking lenders to risk their funds and drop their pants (even a little). What about you? Are YOU willing to drop your pants to get the deal done? Or are you going to hold onto the lead for dear life, all the while making zero when he tires and goes elsewhere?

Maybe you could put your money where your mouth is and syndicate a little on this? I'm sure you would get stronger responses if your request wasn't all about "gimme, gimme, gimme" and you showed you are seriously considering a mutual relationship

Valid point, Chambo.

I can do that. Definite- you are one of the luminaries of this site, as well

[Don Dolla]

i answered your question, merch is overqualified for qs... and i'll give you some more advice since your so desperate to learn... if your apps are getting rerouted by a broker submit enough volume and high quality deals and the real funders will come to you! all this back door talk... grow up step up your game or go sell phones to walk ins at best buy