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01-22-2019, 08:28 PM #1
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- Jan 2019
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- 3
Biggest loan/longest terms in the industry?
Hi, what's the longest term and biggest amount you guys have been seein on these loans?
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01-23-2019, 08:32 AM #2
I don’t know what a loan is but I have seen advances with 12-15m terms from the better paper funders.
Those are intentional terms, of course.. I’ve seen 8m deals effectively turn into two-year deals because of such reduced/ modified payments too, which sucks.
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01-23-2019, 10:02 AM #3
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
On these loans? Agree - don't know what a "loan" is if you are speaking of factoring future receivables. That is what you are offering - Capital based off of the future receivables of the business. The longest "term" aka payback timeframe is about 18 months unless you get an actual MCA which works with the daily receivable percentage for the payback. Any amount is possible. The larger the amount the higher the risk. The longer the term, the higher the risk. All depends on the Business and what they qualify for and what you have access to.
If you are wanting to know about Business Loans - that is an entire different subject and direct lender questions. You also need licensing. If you are wanting to offer Loan Products without the headache and hassle, you can sign up with LoanMe and they can assist you with the states they work with.Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
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Always Live and Lead with Integrity.
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01-23-2019, 11:07 AM #4
I Think the largest MCA was BFS or EVEREST for $2M, Steven from Davinci closed one for $1.5M
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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01-23-2019, 11:33 AM #5
- Join Date
- Mar 2018
- Posts
- 110
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01-23-2019, 11:30 AM #6
- Join Date
- Feb 2018
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- 1,349
SFS did a large one for $4M for the las vegas mob experience years ago
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01-23-2019, 03:30 PM #7
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01-23-2019, 11:36 AM #8
- Join Date
- Feb 2018
- Posts
- 1,349
some of these large funding's resulted in the merchants filing for BK. It's not worth the risk when there are so many sub $250k deals out there to fund unless you do a collateral deal on those large deals.
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01-23-2019, 12:05 PM #9
- Join Date
- Jan 2015
- Location
- Laguna Beach
- Posts
- 463
Breakout goes to 24 months.
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01-23-2019, 02:02 PM #10
Loan Me goes out 10 years. Biggest was that auto deal gone sour w/ 1st Global. 40MM if I'm not mistaken.
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01-23-2019, 03:10 PM #11
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- Oct 2016
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- 4,318
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01-23-2019, 02:54 PM #12
- Join Date
- Feb 2018
- Posts
- 1,349
if you go 10 years with them ^ , the total cost is astronomical. you basically pay interest only that whole period
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01-23-2019, 06:36 PM #13
- Join Date
- Jan 2015
- Location
- Laguna Beach
- Posts
- 463
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01-23-2019, 03:09 PM #14
- Join Date
- Oct 2016
- Posts
- 4,318
1st Global did $40M for a auto dealership with 9 locations. Granted, it wasn’t a single lump sum, but total given to the dealership’s locations.
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01-24-2019, 04:23 PM #15
- Join Date
- Feb 2018
- Posts
- 1,349
devil is always in the details.
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