Beat Vader?

**patrickw** · 03-18-2019, 06:18 PM

Hey Guys,

I funded a small 8k 1.44 (10points) 80 days with Vader. Merchant is up for renewal. currently balance is around 4.9K never missed a payment. Renewal was 9k 1.34 buy rate 90 days. But If I keep 10 points on it it makes 1.44 but merchant wants 1.25-1.30 factor rates. Bad Credit! Biz type: Nails Salon, Avg Monthly sales: 17391 based on the contract.

**rdgllc** · 03-18-2019, 07:01 PM

Originally Posted by patrickw

Hey Guys,

I funded a small 8k 1.44 (10points) 80 days with Vader. Merchant is up for renewal. currently balance is around 4.9K never missed a payment. Renewal was 9k 1.34 buy rate 90 days. But If I keep 10 points on it it makes 1.44 but merchant wants 1.25-1.30 factor rates. Bad Credit! Biz type: Nails Salon, Avg Monthly sales: 17391 based on the contract.

Keywords: "bad credit"

Assuming bad means sub-600, you won't be getting 1.25-1.30 factor rates. MAYBE try LG Funding if this is a second position (they're not interested in 1sts).

**blashley** · 03-18-2019, 11:20 PM

Patrick-Who is your rep at Knight?

**patrickw** · 03-19-2019, 10:09 AM

Originally Posted by blashley

Patrick-Who is your rep at Knight?

I tried reaching them tons of time. Submitted the docs but they never got back to me.

**patrickw** · 03-19-2019, 10:09 AM

Originally Posted by rdgllc

Keywords: "bad credit"

Assuming bad means sub-600, you won't be getting 1.25-1.30 factor rates. MAYBE try LG Funding if this is a second position (they're not interested in 1sts).

Do you have any contact on LG funding? never heard about them :|

**rdgllc** · 03-19-2019, 10:40 AM

Originally Posted by patrickw

Do you have any contact on LG funding? never heard about them :|

We just signed up with them, so I don't have personal experience other than them beating me out for a deal I was closing with another lender. This is who we signed up with:

Joe Lerman
Office: 718 362-2260 x 2271
Direct: 718-362-2263
Fax: 718-767-5397
joe@lgfunding.com
www.lgfunding.com

**Christian** · 03-19-2019, 11:57 AM

I'm having the same issue w Vader. Got a renewal offer the netted a client $834 at an extra cost of $6,000+. Seriously.

**ABC2016** · 03-19-2019, 08:01 PM

Originally Posted by patrickw

Do you have any contact on LG funding? never heard about them :|

Speak to joe 212-444-9870 or if you drop your info I’ll pass it to him...

**ryan $** · 03-20-2019, 03:24 PM

Try Fundsofast

**patrickw** · 03-20-2019, 05:09 PM

Originally Posted by ryan $

Try Fundsofast

They do cash advance? What are their typical offers?

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