Results 1 to 15 of 15
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01-15-2019, 03:33 PM #1
- Join Date
- Apr 2013
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- 359
Who's funding 2nd or 3rd positions on just CC split
Merchant has two balances, no one taking from his card sales. Having trouble finding a lender that will do a split and not in first position. Also first two positions don't have UCC's according to merchant. Needs to be competitive pricing.
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01-15-2019, 04:30 PM #2
you don't ask for much, do you?
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01-15-2019, 04:34 PM #3
- Join Date
- May 2018
- Posts
- 130
CFG might help you there
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01-15-2019, 04:48 PM #4
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- Apr 2013
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- 359
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01-15-2019, 06:34 PM #5
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01-15-2019, 06:42 PM #6
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- Apr 2013
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- 359
Unless someone implicitly states horrible credit, bad bank statements, high balances, etc, etc., I assume whatever they're posting about to be pretty basic. Same goes for my posts: this is a straightforward deal with two standing balances, no UCC's filed, and no one on a split. If there were other issues then I would mention them.
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01-16-2019, 03:52 PM #7
You're missing the point. Whatever. You won't get a "competitively priced" third position offer.
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01-16-2019, 04:02 PM #8
- Join Date
- Jul 2014
- Posts
- 92
I think Chambo's point is that while a CC split may remove the risk of a bounced payment on any given day, you're still inching the merchant closer to insolvency by the time you're getting to third positions. It is therefore inherently risky and will probably be priced accordingly.
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01-16-2019, 04:38 PM #9
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,998
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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01-16-2019, 06:17 PM #10
- Join Date
- Apr 2013
- Posts
- 359
I agree. Just trying to find a lender who will do a 3rd position split. When I said competitive pricing, I meant within the tier of the deal -- obviously not one in the free and clear. Lot of the offers I get for something like this start at a 1.4-1.45 buy-rate with a 90 day term or something.
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01-16-2019, 07:05 PM #11
1.45 over 90 days for a third pos offer isn't all that bad, really. Of course, it all comes down to how much money is actually being taken out of merchant bank account to pay these MCAs
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01-17-2019, 09:08 AM #12
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,998
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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01-17-2019, 01:37 PM #13
- Join Date
- Apr 2013
- Posts
- 359
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01-18-2019, 02:25 PM #14
- Join Date
- Nov 2013
- Posts
- 600
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01-24-2019, 12:46 AM #15
- Join Date
- Jun 2018
- Posts
- 8
HfhCapitalFunding.com
we could do it.
email Partners@hfhCapitalFunding.com for an ISO agreement.
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