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02-13-2019, 03:30 PM #1
- Join Date
- Oct 2016
- Posts
- 4,318
The hedge fund doesn’t exist. Period.
Listen, when doing conventional loans, the funders often offer between 0-2% fees. 2% is extremely rare for a term loan product. So, standard procedure includes having a referral agreement put in place that pays commission based on total facility size. Additionally, the referral fee comes with instructions on how the fee is paid (which usually comes directly from the funding amount after closing docs are signed). The fact this guy is talking about how you aren’t allowed to get commission based on percentage of the funding amount is downright stupid. It’s clear he’s never closed a term loan.
So again, this guy is full of ****. There is no hedge fund that is supposedly licensed in every state to lend. Why would this fund (licensed everywhere) seek out some dork operating a new site from his home address, with no lending experience, to help originate their loans?
Because it’s not real. He’s just desperate for leads.
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02-13-2019, 03:37 PM #2
- Join Date
- Feb 2019
- Posts
- 18
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02-13-2019, 04:13 PM #3
- Join Date
- Oct 2016
- Posts
- 4,318
No, if you’re desperate for A paper cash advances, you’d make up a lie (like you’re doing now) that you can offer a term loan based on tax returns.
And how does one underwrite based solely on tax returns? It’s 2019. At best you’d be looking at 2017 numbers because so few have filed 2018. Who the hell can figure out future Debt Service Coverage Ratio based on data over a year old. And imagine if their 2017 is on extension.
What term lender doesn’t want to see income statements, balance sheets, A/R & A/P, debt schedule?
You’re trying to bluff your way through it. It’s not working. It’s all bull****.
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02-13-2019, 05:20 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,481
DF- Stop by my office. I have my power washer with me so you can clean off your shoes after wading through this guy's BS.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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02-13-2019, 03:47 PM #5
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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02-13-2019, 08:09 PM #6
- Join Date
- Mar 2017
- Location
- Nunya
- Posts
- 830
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02-14-2019, 11:35 AM #7
- Join Date
- Feb 2019
- Posts
- 18
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02-14-2019, 11:00 AM #8
- Join Date
- Aug 2017
- Posts
- 249
Posts like this make me wonder if this is really the president of Lendera or a troll trying to destroy a new ISO shop.
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02-14-2019, 11:37 AM #9
- Join Date
- Feb 2019
- Posts
- 18
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02-14-2019, 11:45 AM #10
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Update... I actually spoke to him. Noobs to DF don't expect the attack. He's been in the space for 7 years + and has solid funding partners and people we both know. He does do what he says even though the information was vague and was just like any other DF post.
I was curious because I get to know people a little more personally when doing business and/or knowing how they work and IF they are valid to work with other B2B members here or wherever in this industry. *shrugs* not everyone is who they seem but he's actually a pretty cool guy with nothing to hide.
Obviously he knows better now than to put something up here. Moral of the story... don't just a DF person by their post? Unless they have a ****ty website and a Gmail and asks for sub deals from brokers.Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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02-14-2019, 03:05 PM #11
- Join Date
- Mar 2017
- Location
- Nunya
- Posts
- 830
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02-14-2019, 05:22 PM #12
- Join Date
- Feb 2018
- Posts
- 1,349
only noobs are going to enroll with new names. the pros already have their foundation built.
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03-05-2019, 12:57 PM #13
- Join Date
- Jun 2017
- Posts
- 15
I have been contacted by some guys at US Business Lending that claim to have access to term loan programs out to 7 years, monthly payments with rates from 7 to 16%, loan amounts up to $2MM. Anyone know whats up with this?
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03-05-2019, 01:30 PM #14
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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03-05-2019, 05:06 PM #15
- Join Date
- Jun 2017
- Posts
- 15
Wow. Why do folks have to be con artists. There is plenty of money in this industry if you just do things the right way.
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03-05-2019, 05:17 PM #16John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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