Results 1 to 18 of 18
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11-08-2019, 02:39 PM #1
- Join Date
- May 2019
- Posts
- 14
Who funds in South Dakota?
I have an A paper client who's incorporated in South Dakota, but he operates his business in Chicago, IL. Looking for a funder who will take a look at the file since South Dakota is a prohibted state for most funders.
Thanks
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11-08-2019, 02:40 PM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
What industry and how big is the company?
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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11-08-2019, 02:48 PM #3
Fox funds in all 50 states, reach out to go over the deal.
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11-08-2019, 02:53 PM #4
- Join Date
- May 2019
- Posts
- 14
It's a marketing company. Deposits about $200k a month. Looking for an ACH not CC split
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11-08-2019, 03:24 PM #5
- Join Date
- Mar 2016
- Posts
- 335
We can fund him and get him a better rate than an MCA. You will get residual income for the life of the deal.
---
Bill Doody
Round Table Financial
Business Development Officer
bill@rtfinancialgroup.com
C: (949) 444-3346
www.rtfinancialgroup.com
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11-11-2019, 10:25 AM #6
- Join Date
- Aug 2017
- Location
- NYC/Miami
- Posts
- 112
We fudn in south dokota
Eli S.
FOx Business Funding
Iso manager
347. 562. 8796
elis@foxbusinessfunding.com
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11-11-2019, 01:37 PM #7
- Join Date
- Sep 2019
- Posts
- 109
submit to sales@oarex DOT COM
They may be able to help they specialize in marketing and digital media comanies
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11-11-2019, 06:20 PM #8
- Join Date
- Jan 2014
- Posts
- 1,374
south Dakota is prohibited state? thats first for me, anyone know why that is?
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11-11-2019, 08:14 PM #9
- Join Date
- Jul 2018
- Posts
- 193
Expansion is in south Dakota.
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11-12-2019, 10:32 AM #10
- Join Date
- Dec 2013
- Posts
- 4,713
South Dakota is a Great state it even has More shoreline then my state of Florida!
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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11-12-2019, 11:00 AM #11
- Join Date
- Jun 2014
- Posts
- 541
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11-12-2019, 11:14 AM #12
- Join Date
- Nov 2018
- Posts
- 24
In the terms of business LOANS.... There's basically 2 ways a lender can get licensed to lend. They can use the "rent-a-charter" model where they rent a national bank charter (think celtic bank, web bank, bank of internet) and lend money through that. Banks with a national charter are exempt from state lending laws, so the rent-a-charter model allows the lender to lend in any state while following federal business lending laws. The 2nd way is to get licensed in each state the company plans to lend in. With this comes additional red tape as the loan company has to abide by that state's laws. For example, Nevada requires that business lenders licensed there have a physical office in the state. SD has some kind of similar law which prevents most lenders from issuing loans to that state unless they use the rent-a-charter model. The state licensing model means that lenders must follow APR caps, Origination fee caps, NSF fee laws, and more. All of those are state by state specific.
Even with the rent-a-charter model the company may run into issues... Some states have weird homestead laws which can make collecting a PG more difficult so they have stricter underwriting in one state vs another.
This is the reason the OCC fintech charter was such a big deal. Companies pay a TON of money to rent bank charters, so to be able to apply for their own charter and follow federal laws would be huge. It appears it won't be happening anytime soon though, if I recall right 14 states sued the OCC and it doesn't look like the fintech charter will be a thing.
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11-12-2019, 11:20 AM #13
- 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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11-12-2019, 03:50 PM #14
- Join Date
- Dec 2018
- Location
- 48 Wall St. New York, NY 10005
- Posts
- 271
We fund in South Dakota.
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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11-12-2019, 06:12 PM #15
- Join Date
- Jul 2019
- Posts
- 13
Lending Valley !
Submissions@lendingvalley.com
(347)491-5219
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11-12-2019, 08:37 PM #16
- Join Date
- Jul 2018
- Posts
- 193
Everyone funds in Dakota
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11-14-2019, 11:35 AM #17
- Join Date
- Jul 2015
- Location
- Tampa Florida
- Posts
- 498
I just did a deal in South Dakota a few months ago.
Jason H l Sales & Business Development
Quikstone Capital Solutions l Tampa FL
Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
Jason.Hausle@quikstonecapital.com
www.quikstonecapital.com
Direct Lender Since 2005
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11-25-2019, 07:42 PM #18
- Join Date
- Dec 2015
- Posts
- 49
We fund all states. Pm me or call me, a-d paper, super agressive, high risk tier. 100% direct funder only
Avi Levi
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