[MCABroker123]

Good credit/hospitality industry/has two positions with ondeck one loan one line of credit. Any suggestions for a good lender to submit to with comparable rates? Thanks

[FinancialSwissArmyKnife]

For a good rate on a second I would recommend JohnT@thesmartermerchant.com

[swiftcloser]

......

[abfunders]

LG, IOU, QuarterSpot
You may want to try Bluevine to get "comparable rates," or at least convince them to take it because it's a LOC. They fund behind OnDeck's LOC "case by case"

[fundingtoday]

Radium2Capital-Shoot an email over to dshollock@radium2capital.com or call 570-840-0583.

[Saass-Itch]

put us in the race! team@centraldiligencegroup.com or give us a shout at 877-961-4403 x101, we can do 10 mo deals on 2nd position for clean files.

[VitalCapJeff]

We offer solid 2nd positions behind Ondeck. Reach out if you'd like a copy of guidelines and ISO agreement.

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

[Showmethemoney]

high five

[JohnT.]

For a good rate on a second I would recommend JohnT@thesmartermerchant.com

Thanks for the cred!

We offer up to 10 month offers on clean 2nd positions, 16pt upsells, weekly ach's and soft pull credit at 1.20br's assuming qualified (2yrs TIB, 650Fico, cashflow to support a weekly)

[DannyFoxCap]

OnDeck is one of the best funders to go behind, Fox would go up to 11 months.

[OC Funder]

OnDeck is one of the best funders to go behind, Fox would go up to 11 months.

I'm curious as to why that is? Historically they've had a higher default rate than many other 1st position funders and are often aggressive on gross %, so I would've thought the opposite.

[MCABroker123]

Best Suggestions were IOU, QuarterSpot, and Rapid. Thank you for your help

[Zonefund]

OnDeck is one of the best funders to go behind, Fox would go up to 11 months.

Never seen more then 6-8 months from you.

You're similar to lg. Crappy approvals 90% of the time unless you love the file. Kalamats destroys you bro.

[dfite]

WBL will stack OnDeck with a longer term than they gave you.

[WestCoastFunding]

WBL will stack OnDeck with a longer term than they gave you.

They’ll also take your house off your hands, too.

[nationwidefunder]

They’ll also take your house off your hands, too.

[Dcohen]

Yeah right High Five, JB is going to jail the biggest crook in the industry charges almost 30 percent in fees and back doors every deal!
Never work with this company!

[mcaguru]

Mantis Funds based on the merits of the merchant..... I find it hard to believe anyone is actually funding based on another company funding a merchant. Remember a merchant that seeks to take capital even from Ondeck is already not a prime merchant ...so the moment any merchant takes capital at non bank rates they need to be underwritten on their own merits ONLY never on oh xyz funder funded them so its a good deal just the opposite perhaps !

[mcaguru]

OnDeck is one of the best funders to go behind, Fox would go up to 11 months.

??

[HDF]

Remember a merchant that seeks to take capital even from Ondeck is already not a prime merchant ...

Not true. Many a "prime" merchant has taken ONDK money or tapped other speedier capital sources solely on speed and need alone vs a bank loan. As a broker shop you should know this by now, no?

[BROKER TIME]

Mantis Funds based on the merits of the merchant..... I find it hard to believe anyone is actually funding based on another company funding a merchant. Remember a merchant that seeks to take capital even from Ondeck is already not a prime merchant ...so the moment any merchant takes capital at non bank rates they need to be underwritten on their own merits ONLY never on oh xyz funder funded them so its a good deal just the opposite perhaps !

why are you in this post?

only someone on some crazy crack would send you deals

let alone on a second position

[hamito]

Sign up with UFS James@ufsfunding.com Cell:917-543-1545

We are looking for your Conservative higher risk paper (B-C). Our ideal file is a 1st, 2nd and 3rd position file doing 50k in monthly revenue with good AR & Balances.

We fund Lawyers, Publicly traded companies Staffing, Real Estate, Trucking,Cannabis,Finance, Consulting, Accounting, Construction, Transportation, Marketing. Our ONLY restricted SIC is Used auto sales
We fund in all 50 states including Hawaii
Syndicate up to 50% deals, Daily Payouts, No fees
Respond within 1 hour!!!
Fund with copies of contracts
Daily's & Weekly's
Always soft credit pulls

Minimum Revenues
Files with a Min 20k monthly revenue will be considered for a 1st position
Files with a Min 25k-35k monthly revenue will be considered for a 2nd position
Files with a Min 35k-50k monthly revenue will be considered for a 3nd position


BASIC Guidelines,
1- Merchant has to be generating at least $20k a month in gross revenue.
2- Cannot have more than 3-5 returned payments in a month
3- Merchant cannot have any previous defaults or payment issues with previous cash advance companies.
4- Judgments and Liens are ok, but if they are excessive we will decline the file.
5- Restricted industries, JUST used car dealerships
6- Balances averages $1000+ range, No more than 3-5 NSFs / Returned payments a month.
7-Revenue should be 20-25k+ minimum monthly for a 1st position, 25- 30k+ for a second, 30- 45k+ as a 3rd (don't like to see revenue drop below 15k to still be considered for approval)
8-Credit score minimum 500 for a 2nd+ positions and 550 for 1st positions

Rates and terms:
Our max term is 8 months- 160 payments
Our maximum funded amount is $1.1 million
Our Rates , Cleaner files will come with a 1.26 Buy rate with the ability to up sell to 13 points. Higher risk approvals will come at a 1.45 and all approvals will include a 10% commission built in.


James Ghoori
VP Iso relations
Unique Funding Solutions
Cell- (917)543-1545
Work-(516)218-1089
Fax-347-549-4296
http://www.ufsfunding.com/
image.png

[hamito]

Sign up with James He is a great iso rep at UFS

James@ufsfunding.com


James Ghoori
VP Iso relations
Unique Funding Solutions
Cell- (917)543-1545
Work-(516)218-1089
Fax-347-549-4296
http://www.ufsfunding.com/
image.png

[DannyFoxCap]

Never seen more then 6-8 months from you.

You're similar to lg. Crappy approvals 90% of the time unless you love the file. Kalamats destroys you bro.

You were probably sending us the wrong deals

[dfite]

...I find it hard to believe anyone is actually funding based on another company funding a merchant...

You mean like when people hear you guys are on a deal and kill it? Happens all the time.