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  1. #1

    Biggest loan/longest terms in the industry?

    Hi, what's the longest term and biggest amount you guys have been seein on these loans?

  2. #2
    Member Reputation points: 6902 morgan.quinn's Avatar
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    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.

  3. #3
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    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.
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  4. #4
    Senior Member Reputation points: 34509 Jstarr's Avatar
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    I Think the largest MCA was BFS or EVEREST for $2M, Steven from Davinci closed one for $1.5M
    Jerry Starr
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  5. #5
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    SFS did a large one for $4M for the las vegas mob experience years ago

  6. #6
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    Quote Originally Posted by Jstarr View Post
    I Think the largest MCA was BFS or EVEREST for $2M, Steven from Davinci closed one for $1.5M
    incorrect. EBF would never go that large.. my YSC rep told me they recently did a $3.5mm
    The only 7 figure deal I ever funded was with YS. The term sucked (140 days) But Merchant took it because it was the largest approval he got and he needed it fast

  7. #7
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    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.

  8. #8
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    Breakout goes to 24 months.

  9. #9
    Senior Member Reputation points: 51397 DTFdowntofund's Avatar
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    Loan Me goes out 10 years. Biggest was that auto deal gone sour w/ 1st Global. 40MM if I'm not mistaken.

  10. #10
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    if you go 10 years with them ^ , the total cost is astronomical. you basically pay interest only that whole period

  11. #11
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    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.

  12. #12
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    Quote Originally Posted by DTFdowntofund View Post
    Loan Me goes out 10 years. Biggest was that auto deal gone sour w/ 1st Global. 40MM if I'm not mistaken.
    Yep. 1st Global was such a mess.

  13. #13
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by fundingsmbs View Post
    SFS did a large one for $4M for the las vegas mob experience years ago
    paid back 1/10th of the balance and went bust

  14. #14
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    Quote Originally Posted by fundingsmbs View Post
    if you go 10 years with them ^ , the total cost is astronomical. you basically pay interest only that whole period
    Some people believe they are the most predatory lender there is; and yet they seem to fly under the radar.

  15. #15
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    devil is always in the details.

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