[Michael Slabitcher]

What other companies besides Breakout Capital forgive the so called interest at the time of renewal?

Thank you,
Michael Sla*****er
msla*****er@sla*****er.com

[abfunders]

Nobody. That's what makes their product unique.
Bluevine doesn't even do it - they stack themselves all day long, but there's no prepayment penalty, so in theory you can get the client stated fresh by paying back the principle.

[Nunya]

What other companies besides Breakout Capital forgive the so called interest at the time of renewal?

Thank you,
Michael Sla*****er
msla*****er@sla*****er.com

Do you know how they amortize their loans - that would ultimately determine how much discount is given.

[Steven_O]

Quarterspot, Ondeck...

[abfunders]

Steven, Quarterspot and IOU are also amortized like Bluevine (QS has steep points coming out of the loan) but there's no automatic renewal like with any line of credit like Bluevine/Breakout.

[Steven_O]

Thanks for the clarification Micah!

[Chargers]

Steven, Quarterspot and IOU are also amortized like Bluevine (QS has steep points coming out of the loan) but there's no automatic renewal like with any line of credit like Bluevine/Breakout.

I know BlueVine Pays 3-5% on new deals, do you happen to know what % Breakout pays?

[Jason Sterling]

We have never double dipped a merchant in our 14 years in business

[Michael Slabitcher]

We have never double dipped a merchant in our 14 years in business

Hi Jason,

What's your minimum time in business guideline? Do you pay off existing advances?

[Jason Sterling]

Hi Jason,

What's your minimum time in business guideline? Do you pay off existing advances?

Must be in business for 3 months and processing at least $6,500 per month to qualify for our minimum $5,000. We will buy out other positions but our net rule falls around 70-75% usually.

[fundingsmbs]

you have to ask renewals specifically if they can do a concurrent or add on VS a refinance. talk to your renewal contact and see if they can do add ons or concurrent

[patrickw]

Ondeck! Getting atleast 1 auto renewal funded every week or so. Though they just pay 2 points for renewal.

[fundingsmbs]

Ondeck! Getting atleast 1 auto renewal funded every week or so. Though they just pay 2 points for renewal.

2 points?

[Michael I]

Ondeck! Getting atleast 1 auto renewal funded every week or so. Though they just pay 2 points for renewal.

dude you getting screwed . ondeck pays me full on renewals

[patrickw]

dude you getting screwed . ondeck pays me full on renewals

WTH!! how come? they are giving me 2 points since starting. How did you increase?

[fundingsmbs]

dude you getting screwed . ondeck pays me full on renewals

what does your clause say you have to do to keep those full renewals with them

[skideeppow]

dude you getting screwed . ondeck pays me full on renewals

me too, and on full amount, not just funded.

[FroFunds]

OnDeck and The Business Backer do not double-dip on renewals.

[Davincinc]

OnDeck and The Business Backer do not double-dip on renewals.

business backers wont take on new iso, and ask our office to send them 1m a month just to see what we were funding, with intent to circumvent. i have the email, they have great buy rates, but that email turned my off completely.

[WestCoastFunding]

business backers wont take on new iso, and ask our office to send them 1m a month just to see what we were funding, with intent to circumvent. i have the email, they have great buy rates, but that email turned my off completely.

Since they’ve been taken over by Enova they’re become ridiculous. If you want to work with Enova you need to provide two years financials.

[FroFunds]

business backers wont take on new iso, and ask our office to send them 1m a month just to see what we were funding, with intent to circumvent. i have the email, they have great buy rates, but that email turned my off completely.

They are A+ paper so approvals are difficult but they frankly have the best WC program in the industry right now for prime borrowers.

However, they did call one of my clients directly the day after his approval expired in 30 days and funded him a couple months back. This hadn't happened before or since we addressed it. Maybe the ownership change has altered things there.

[abfunders]

Bluevine is 3% on all draws.
Breakout is max upsell to 8 points on all draws, but they don't always allow that max upsell, so that really depends on the file.

[Chargers]

Wow thats good. Does Breakout offer a monthly payment plan or is it strictly weekly?

[ryan $]

Bluevine is 3% on all draws.
Breakout is max upsell to 8 points on all draws, but they don't always allow that max upsell, so that really depends on the file.

Im prepared to get alot of **** talked for this comment. And that is fine.

Another option for files you send to Bluevine is Par Funding. Their LOC Option, has a buy rate upsell option which allows you to make more money upfront as compared to Bluevine. But Bluevine is better as far as the recurring aspect. Par is a bit more Expensive as well, but when compared to Bluevine you are able to make more Points.

[MCABroker]

Im prepared to get alot of **** talked for this comment. And that is fine.

Another option for files you send to Bluevine is Par Funding. Their LOC Option, has a buy rate upsell option which allows you to make more money upfront as compared to Bluevine. But Bluevine is better as far as the recurring aspect. Par is a bit more Expensive as well, but when compared to Bluevine you are able to make more Points.

Par only pays 2% on a 18% 10 week LOC and to be honest its not a real LOC, its a shorter cheaper MCA.