Results 1 to 25 of 30
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07-09-2019, 10:51 PM #1
- Join Date
- Mar 2018
- Posts
- 71
Best 2nd position lenders that lend behind ondeck
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
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07-10-2019, 11:08 AM #2
- Join Date
- Jun 2019
- Posts
- 287
For a good rate on a second I would recommend JohnT@thesmartermerchant.com
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07-10-2019, 11:53 AM #3
- Join Date
- Nov 2016
- Posts
- 166
......
Last edited by swiftcloser; 01-28-2020 at 09:43 AM.
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07-10-2019, 12:02 PM #4
- Join Date
- Feb 2017
- Posts
- 3,426
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"
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07-10-2019, 12:10 PM #5
- Join Date
- Jul 2017
- Posts
- 31
Radium2Capital-Shoot an email over to dshollock@radium2capital.com or call 570-840-0583.
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07-10-2019, 12:41 PM #6
- Join Date
- May 2019
- Posts
- 30
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.
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07-10-2019, 01:03 PM #7
- Join Date
- Dec 2018
- Location
- 48 Wall St. New York, NY 10005
- Posts
- 271
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
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07-10-2019, 01:06 PM #8
- Join Date
- May 2018
- Posts
- 158
high five
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07-10-2019, 01:22 PM #9
- Join Date
- Jun 2019
- Posts
- 78
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07-10-2019, 02:57 PM #10
OnDeck is one of the best funders to go behind, Fox would go up to 11 months.
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07-10-2019, 04:19 PM #11
- Join Date
- Jul 2014
- Posts
- 92
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07-10-2019, 05:46 PM #12
- Join Date
- Mar 2018
- Posts
- 71
Best Suggestions were IOU, QuarterSpot, and Rapid. Thank you for your help
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07-11-2019, 03:02 AM #13
- Join Date
- Aug 2018
- Posts
- 789
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07-11-2019, 10:49 AM #14
- Join Date
- Jun 2018
- Posts
- 55
WBL will stack OnDeck with a longer term than they gave you.
David Fite
Director of ISO Relations
Windgate Capital
40 Wall Street, 29th Floor, New York, NY 10005
Direct: (516) 400-2087 ǀ Fax: (347) 708-8699 | Cell: (929)-361-4156
David@WindgateCapital.com ǀ https://www.WindgateCapital.com/
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07-11-2019, 10:54 AM #15
- Join Date
- Oct 2016
- Posts
- 4,318
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07-11-2019, 11:45 AM #16
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07-11-2019, 12:31 PM #17
- Join Date
- Jun 2019
- Posts
- 59
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!
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07-11-2019, 12:41 PM #18
- Join Date
- Dec 2013
- Posts
- 4,713
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 !
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-11-2019, 12:51 PM #19
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-11-2019, 12:58 PM #20
- Join Date
- Jul 2015
- Posts
- 1,202
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07-11-2019, 01:02 PM #21
- Join Date
- Jun 2018
- Posts
- 462
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07-11-2019, 03:03 PM #22
- Join Date
- May 2019
- Posts
- 29
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
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07-11-2019, 03:04 PM #23
- Join Date
- May 2019
- Posts
- 29
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
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07-11-2019, 03:25 PM #24
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07-11-2019, 03:35 PM #25
- Join Date
- Jun 2018
- Posts
- 55
David Fite
Director of ISO Relations
Windgate Capital
40 Wall Street, 29th Floor, New York, NY 10005
Direct: (516) 400-2087 ǀ Fax: (347) 708-8699 | Cell: (929)-361-4156
David@WindgateCapital.com ǀ https://www.WindgateCapital.com/
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