[fundmonster]

got a merchant who has 2 positions. wants to keep his 1st position advance as he's got a good relationship with them. looking to consolidate 2nd position. please PM if your company can accommodate a request like this.

[Michael_Prompt]

Email me Michael@promptcapitalfunding.com

[BB_Cooper]

Cooper can do this type of partial consolidation-

Robert S Bloink
EVP of ISO Partnerships
Direct: 248-341-9477
Email: bb@cooperasset.com
Web: www.cooperasset.com

[mcaguru]

[paulypubco]

depending on the balance of the 2nd we can get it done

[Kevin Henry-Seacoast]

FundMonster,

It would be helpful to understand a little more about the prospect and the need.
-What industry?
-What was revenue last year?
-How much is outstanding with each advance company?
-What is the ultimate goal?

Without the above information it would be difficult for any TRUE lender or funder to wrap their head around this. Anyone claiming they can help without the information ....well....perhaps you should do some homework on them before sharing your prospects information.

-Know your customer!
-Know your referral sources!
-Know your sources of capital!

KH

[abfunders]

In addition to the above, try Fundkite.
Do NOT try Marcus at Mantis - he cannot and will not do that, unless they broker it out.

[JACOBL]

If anyone is creative its probably Crown Funding.
we could try to consolidate or to get a true reverse or what ever needs to be done to get that file funded.

many great review out there on them. Thank you,,


--
Jacob Lew
253 36th St. Suite B317
Brooklyn, NY 11232
Office (718) 215-7006
Fax (718) 732-2173
jacob@crownfundinggroupinc.com
www.crownfundinggroupinc.com

[VitalCapJeff]

Hello Fund monster, it's routine for us to consolidate 2nd positions and leave 1st positions in place. Quite often, we will give both options on a deal if it makes sense. Feel free to reach out and we can discuss this particular deal as well as run through the niche areas of our program.

Thanks!!

Jeff Pecori
ISO Relations manager
VitalCap Fund
48 Wall St. New York, NY 10005
P. 850.630.7509
F. 646.219.7949
jeff@vitalcapfund.com

[Sachip24]

got a merchant who has 2 positions. wants to keep his 1st position advance as he's got a good relationship with them. looking to consolidate 2nd position. please PM if your company can accommodate a request like this.

how good is that relationship if he breached their contract and stacked them and now is looking to do it again?

[showtime44]

how good is that relationship if he breached their contract and stacked them and now is looking to do it again?

LOL what are you, inspector ****ing gadget? Go back to Bloomberg with your new found info........every merchant takes a second position.

[fundmonster]

This is the nature of the industry bud... and will continue to be as long as lenders will offer 2nds 3rds 4ths so and so forth..

[OC Funder]

LOL what are you, inspector ****ing gadget? Go back to Bloomberg with your new found info........every merchant takes a second position.

Really? Every merchant? Unless your only source of leads is UCC lists this should not be the case. If you educate your merchants on the reasons not to stack and nurture the relationship... yeah, you'll still get stacked, but it shouldn't be across the board (unless you're the one stacking them).

[showtime44]

Really? Every merchant? Unless your only source of leads is UCC lists this should not be the case. If you educate your merchants on the reasons not to stack and nurture the relationship... yeah, you'll still get stacked, but it shouldn't be across the board (unless you're the one stacking them).

Yes, literally almost everyone takes additional positions. I do not know why I have to explain this but here goes. Anyone who takes capital at 20-50% interest over 4-12 months clearly needs the money. Meaning when they get offered additional capital behind the 1st, they will usually consider it and eventually, they will take additional funds. No matter how amazing of a relationship you have with them. They will be shopping eventually. 95% of the time.

[OC Funder]

I do not know why I have to explain this but here goes. You can offer this product to fill a need and/or produce an ROI for a merchant and make sure they don't mortgage their future by over-leveraging. Of course you are going to get stacked, now more than ever. But if your entire book (or 95% of it) is getting stacked then you're doing something wrong.

[showtime44]

I do not know why I have to explain this but here goes. You can offer this product to fill a need and/or produce an ROI for a merchant and make sure they don't mortgage their future by over-leveraging. Of course you are going to get stacked, now more than ever. But if your entire book (or 95% of it) is getting stacked then you're doing something wrong.

I guess I am doing something wrong. There's a reason why 2nd-5th position lenders account for probably 75% of the funding in this industry

[OC Funder]

I guess I am doing something wrong. There's a reason why 2nd-5th position lenders account for probably 75% of the funding in this industry

Not trying to sound like a bleeding deacon. I do think it's worth the reminder that a renewal commission will often be higher than a 2nd. I also don't buy that 75% number but I have no reliable data for support so I won't make a federal case of it (although the debanked list of top funders by revenue is primarily 1st position).

[Sachip24]

LOL what are you, inspector ****ing gadget? Go back to Bloomberg with your new found info........every merchant takes a second position.

no idiot my point was if he was willing to breach their contract he should be willing to pay them off and get a better 1st position offer instead of 2nd.

[showtime44]

no idiot my point was if he was willing to breach their contract he should be willing to pay them off and get a better 1st position offer instead of 2nd.

1st of all, if he has like an Ondeck 1st position, it doesnt really get any better. Second, he would be paying double interest on the balance he is paying off. 3rd, nobody gives a **** if you stack, thats the name of the game. Just dont stack your own lenders on deals you did with them. If I get a deal with 4 positions and none of the positions were put in by me, I have absolutely no shame in putting a 5th position in there (aside from the few funders that I am very very close with and will tell them the merch is shopping and update them along the way) Nobody wants to get stacked. but everyone knows that they will be stacked almost everytime

[Sachip24]

1st of all, if he has like an Ondeck 1st position, it doesnt really get any better. Second, he would be paying double interest on the balance he is paying off. 3rd, nobody gives a **** if you stack, thats the name of the game. Just dont stack your own lenders on deals you did with them. If I get a deal with 4 positions and none of the positions were put in by me, I have absolutely no shame in putting a 5th position in there (aside from the few funders that I am very very close with and will tell them the merch is shopping and update them along the way) Nobody wants to get stacked. but everyone knows that they will be stacked almost everytime

so you don't care about stacking merchants to the ground but care if they pay double interest? lol ok. im off this thread now.

[showtime44]

so you don't care about stacking merchants to the ground but care if they pay double interest? lol ok. im off this thread now.

no one said anything about stacking to the ground. There are people who can afford 5th positions. And no one cares, Bye Felicia

[fundmonster]

Cooper can do this type of partial consolidation-

Robert S Bloink
EVP of ISO Partnerships
Direct: 248-341-9477
Email: bb@cooperasset.com
Web: www.cooperasset.com

Might not fit your model Robert, merchant already has a 6 month term. we're currently seeking out terms between 7 to 9 months if possible. will keep you in the loop if that option falls through and merchant wants a possible third.