[Zach]

I just received this "counter" from a merchant my rep is competing on. The sales rep sent the client this proposal, which smokes ours:



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I am going with another company. Below is what they offered to me. I am only taking $100,000 from them which will be at the factor of 1.24.
OPTIONS:
Funded Amount Payback Factor Rate Payment Amount TERM
$190,000.00 $235,600.00 1.24 $1,682/day 7 month term (140 daily payments M-F, excluding holidays)
$190,000.00 $241,300.00 1.27 $1,508/day 8 month term (160 daily payments M-F, excluding holidays)
$190,000.00 $243,200.00 1.28 $1,343/day 9 month term (180 daily payments M-F, excluding holidays)
$190,000.00 $247,000.00 1.30 $1,235/day 10 month term (200 daily payments M-F, excluding holidays)
$190,000.00 $250,800.00 1.32 $1,140/day 11 month term (220 daily payments M-F, excluding holidays)

DEAL BENEFITS:

• Strong early prepay
• Add-ons available within 60 days after funding, renewal at 40%
• Interest is forgiven at renewal (the unpaid interest), as long as you have stellar payment history
• Won't affect personal credit. This will build business credit though since it is an advance
• 3 hour funding time, no COJ needs to be notarized
Processing fee including the closing costs is $999 for any of these options.

[Lmonus]

Looks like Snap no?

[abfunders]

Is this part true:

• Interest is forgiven at renewal (the unpaid interest), as long as you have stellar payment history
• Won't affect personal credit. This will build business credit though since it is an advance

.... Only Breakout does unpaid interest forgiven at renewal.
.... And who reports to business credit except Breakout?

It's not Breakout, since they were offered "add-ons" and Breakout does do "add-ons."

I think this a broker's dream of a plain old white vanilla MCA.

[mcaguru]

Zach!

[Zach]

What's up guys! One thing to note is that this deal is also a 3rd position.

[Chambo]

Looks like Snap no?

Those look like RAPID offers....especially the days in each term(they use the twenty day standard)

[mcaguru]

What's up guys! One thing to note is that this deal is also a 3rd position.

Are you saying that whoever made that offer is coming in 3rd ?

[Lmonus]

What's up guys! One thing to note is that this deal is also a 3rd position.

definitely not snap then.

[J.Celifarco]

What's up guys! One thing to note is that this deal is also a 3rd position.

I cant imagine those offers are real offers on a third.. Are you sure they arent paying off 1 or both of the open positions

[fin4all]

thats a mantis offer all day.

[NoBigDeal]

thats a mantis offer all day.

Before or after contracts are signed?

[fdecelle]

thats a mantis offer all day.

Not it isn't.

[mcaguru]

The Size Offer can deff be Mantis as we make (Many!) Millions per day in offers.

[A+Paper]

GFE/Global?

[Kevin Henry-Seacoast]

The Size Offer can deff be Mantis as we make (Many!) Millions per day in offers.

certainly not an offer from us...... way too small and way too expensive.

[FinancialSwissArmyKnife]

I don't know but would love to get to know them lol

[mcaguru]

certainly not an offer from us...... way too small and way too expensive.

whats your avrg. funding size ...

[Kevin Henry-Seacoast]

whats your avrg. funding size ...

Marcus-You know we are a public company and I cannot disclose the number.

[Nunya]

whats your avrg. funding size ...

10,000x yours

[Lmonus]

whats your avrg. funding size ...

Whats yours?

[Kevin Henry-Seacoast]

What some don't realize..... We close a lot of factoring transactions every year in various sizes all over the country. We also do a lot of ABL. Tt does not stop at the initial funding.....we are funding those companies all year long. Example: IF we close a $5mil factoring facility for a 30Mil company. The initial closing/funding occurs and then we are funding (usually) weekly all of their invoices throughout the year. They are revolving facilities.....

[cmarks]

The "This will build business credit though since it is an advance" is misleading. 'since it is an advance' is not accurate, otherwise they are saying all advances would build business credit.

[WestCoastFunding]

Sign the contracts. At that point underwriting will mysteriously find some issue that will cause the offer to be revised to $65,000 @1.49 over 80 payments.

[FinancialSwissArmyKnife]

What some don't realize..... We close a lot of factoring transactions every year in various sizes all over the country. We also do a lot of ABL. Tt does not stop at the initial funding.....we are funding those companies all year long. Example: IF we close a $5mil factoring facility for a 30Mil company. The initial closing/funding occurs and then we are funding (usually) weekly all of their invoices throughout the year. They are revolving facilities.....

Do your ISO's get paid on all rounds of funding?

[Nunya]

Do your ISO's get paid on all rounds of funding?

Oh, does he have your attention now?