Results 1 to 25 of 29
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11-12-2019, 06:01 PM #1
a new noob saying hi!
Hi ya'll
Thanks to the admins for accepting me into the forum!
I come from an insurance/financial advisor background (10yrs of it), and decided to switch to the other side of finance when a Getbackd recruiter reached out to me. Now I'm a Partner Manager and I spend my days on LinkedIn attempting to network. This is my second week!
A bit about me: I live in Austin, TX and work hard/play hard. I love making friends and I'm genuinely interested helping entrepreneurs.
If you are a broker and would like to partner with a funding rep that has time for you and will work hard on your behalf, I'll be your huckleberry.
Looking forward to reading the threads and picking up the pearls of wisdom you have to offer!
Cheers!
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11-12-2019, 06:14 PM #2
- Join Date
- Apr 2015
- Posts
- 300
jesus!
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11-12-2019, 06:18 PM #3
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11-12-2019, 06:28 PM #4
- Join Date
- Dec 2013
- Posts
- 4,713
Tamira -- Yep DF is a must! so your in the right place.. stock up on some popcorn you may need it in here...
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, 06:47 PM #5
- Join Date
- Aug 2019
- Location
- Recently un-retired, "shocked" that nothing has changed.
- Posts
- 116
Welcome. The industry can be disorienting at first, embrace the controlled chaos.
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11-13-2019, 08:28 AM #6
- Join Date
- Sep 2019
- Posts
- 120
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11-13-2019, 09:28 AM #7
Thanks for the welkies! I reached out because I'd like to understand what problems/issues brokers and funders face.
What's ya'll biggest annoyance?
Please dont say it's noobs like me trying to talk to ya'll
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11-13-2019, 10:23 AM #8
- Join Date
- Mar 2017
- Location
- Nunya
- Posts
- 830
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11-13-2019, 11:10 AM #9
- Join Date
- Jul 2017
- Posts
- 548
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11-13-2019, 11:11 AM #10
- Join Date
- Jul 2017
- Posts
- 548
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11-13-2019, 12:09 PM #11
- Join Date
- Dec 2018
- Location
- 48 Wall St. New York, NY 10005
- Posts
- 271
Welcome to the forum.
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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11-13-2019, 12:15 PM #12
Welcome to the forum Tamira. I've chatted with a few of your team members earlier this week. Great team you guys have over there.
Kevin Dinh
3131 Eastside Street, Suite 350
Houston, TX 77098
P: 713-322-9743
Email: kdinh@accordbf.com
Web: https://go.accordbf.com/DF-Partners/
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11-13-2019, 01:41 PM #13
- Join Date
- Jun 2015
- Posts
- 3,322
First off welcome to the industry.Which company are you with? To me one of the biggest annoyance is all these new companies offering the exact same thing and saying try me you will like me better, Unless someone is doing something out of the box or creative why would i leave the guys i have been funding with for years.Also dont blame me when your offers suck why i am not funding with you
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11-13-2019, 02:42 PM #14
- Join Date
- Jan 2018
- Posts
- 519
hi
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11-13-2019, 03:43 PM #15
Hi Michael,
Thanks! I see your point and how that pitch would be annoying. freeprocessing brought up a great point that we need to explain our criteria and preferred industries.
I'm with Getbackd, a startup here in Austin, TX. The industries we can be competitive in are restaurants, cannabis, adult, lawyers and liquor stores. We also just did an Oil and Gas deal, they wanted a million. We don't have a max, but the client's revenue has to be at least 10% of what they're asking for.
Right now it we are just funding Working Capital.
Listen, at this point, I'd be happy taking any old leftover deals anyone has just to see what I can and can't do. It would be my first deal! So, anybody want to feed me something? Anybody?
General Eligibility:
6 months in business
For-profit businesses
Minimum monthly deposits: $20K
Minimum annual revenue: $100K
Monthly deposits: 10+
Payoff letters - will only take 1st or 2nd positions
Credit:
Minimum personal credit score of 600
Minimum CFN of 480
Ineligible industries:
Non-profit
Ineligible states:
California
New York
New Hampshire
Connecticut
Ohio
Mississippi
Rhode Island
Ineligible areas:
South Florida
Fees
Origination fee: 3%
Admin fee - $150
Points vary, but I'll work on hard to get you paid what you ask for within reason.
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11-13-2019, 03:52 PM #16
- Join Date
- Jun 2015
- Posts
- 3,322
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11-13-2019, 03:52 PM #17
- Join Date
- Jul 2017
- Posts
- 548
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11-13-2019, 03:56 PM #18
- Join Date
- Oct 2016
- Posts
- 4,318
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11-13-2019, 03:58 PM #19
- Join Date
- Jun 2015
- Posts
- 3,322
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11-13-2019, 04:20 PM #20
haha youre right that doesnt make sense. I meant 10K
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11-13-2019, 04:22 PM #21
freeprocessing- yes 10% of annual revenue is what they'll approve, anything more and underwriting scrutinizes it harder. We have an inhouse underwriting team.
Last edited by Tamira; 11-13-2019 at 04:39 PM. Reason: didnt address question
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11-13-2019, 04:33 PM #22
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11-13-2019, 06:22 PM #23
- Join Date
- Dec 2017
- Posts
- 238
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11-14-2019, 10:43 AM #24
- Join Date
- Jun 2015
- Posts
- 3,322
I will rephrase my question, you are asking for the paper that people can get low buy rates on from the on deck bfs tbb rapid kapitus of the world. Is your buy rates going to be lower, higher or similar to those? we know your term are shorter.Back 5 years ago you were able to request that type of paper and give a 1.38 paying 12 points, but those days are over.You will either need to pay above 16 or give a lower buy rate to compete in todays world. You other option is to find noobs to send you business which you wont find from this forum. Best of luck
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11-14-2019, 10:50 AM #25
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