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  1. #1
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    Any default lender recommendations?

    Can anyone recommend a decent (if you could even call any of them that) default lender?
    Thanks for your help.

  2. #2

  3. #3
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    I am not sure there is a real funder that funds defaults -- Defaults mean the merchant took capital and defaulted by intervening in the process of collecting a portion of the recevibles he sold there are few defaults that make sense -- there are remote cases when a single operator of a business collapses on vacation and 2 weeks later he calls the funder with monitors beeping in the background and gets back on track those cases many funders would fund. (unless the collapse was due to a new strain of heroin) otherwise its hard to believe that someone is actually funding merchants that defaulted when they chose not to honor the sale of receivables contract.
    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

  4. #4
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    stop funding defaults and fund real paper

  5. #5
    Last chance, New chance, Aj equity. Try one of them out, Good Luck!
    Managing Partner


    Tommy Cadaspi
    O - 212-461-4833

    www.alphabusinesscap.com

  6. #6
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    Quote Originally Posted by harvey View Post
    stop funding defaults and fund real paper
    this

  7. #7
    Senior Member Reputation points: 36032 DTFdowntofund's Avatar
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    WGF is doing a merchant recovery program for really high risk shit. I know the guy, which is the only reason I know this, but he will fund defaults (maybe exclusively). Same 1.499, 20 day program the other yahoos do though.

  8. #8
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    Quote Originally Posted by AlexP View Post
    Can anyone recommend a decent (if you could even call any of them that) default lender?
    Thanks for your help.
    Send to Marcus Chapman directly. He loves this stuff.

  9. #9
    We fund defaults all day long!!! reach out to us
    Green Fund NY
    Info@greenfundny.com
    845-693-0433
    276 5th Ave. STE 704
    New York, NY 10001

  10. #10
    Quote Originally Posted by AlexP View Post
    Can anyone recommend a decent (if you could even call any of them that) default lender?
    Thanks for your help.
    we aggressively fund previous defaults, submit to deals@mainstreetcash.com. PM me

  11. #11
    Quote Originally Posted by mcaguru View Post
    I am not sure there is a real funder that funds defaults -- Defaults mean the merchant took capital and defaulted by intervening in the process of collecting a portion of the recevibles he sold there are few defaults that make sense -- there are remote cases when a single operator of a business collapses on vacation and 2 weeks later he calls the funder with monitors beeping in the background and gets back on track those cases many funders would fund. (unless the collapse was due to a new strain of heroin) otherwise its hard to believe that someone is actually funding merchants that defaulted when they chose not to honor the sale of receivables contract.
    Incorrect I could rattle off at least 5 who will fund true defaults as long as the banks are strong and there is min 150k monthly in rev.

  12. #12
    Landmark will go out 50 days for defaults as long as the banks are there.

    steve@landmarkfundgroup.com

  13. #13
    Solomon from rely

  14. #14
    Last Chance, New Chance, and Aj Equity can take a crack it. But advise not to even waste time on defaults like someone mentioned before.

  15. #15
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    Quote Originally Posted by Gables Capital Group View Post
    Incorrect I could rattle off at least 5 who will fund true defaults as long as the banks are strong and there is min 150k monthly in rev.
    Who? Like decent lenders or the same old default lenders? Seriously interested in knowing.

  16. #16
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    Quote Originally Posted by danny View Post
    Solomon from rely
    Haha. Solomon has like 500 companies. Also try Josh at Madison.

  17. #17
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    Quote Originally Posted by AlexP View Post
    Can anyone recommend a decent (if you could even call any of them that) default lender?
    Thanks for your help.
    Josh Kinder at Madison - josh@madisoncapitalfund.org
    He really does fund defaults. I don't get it.

  18. #18
    default lenders are all going to be the same but I funded 2 deals last week with landmark and honestly it was surprising how fast they got it done.. the kid Steve gave me 50 days which I was shocked …. you could give him a shot. - steve@landmarkfundgroup.com

  19. #19

  20. #20
    Quote Originally Posted by WestCoastFunding View Post
    Haha. Solomon has like 500 companies. Also try Josh at Madison.
    Certainly interesting, but no Solomon does not have 500 companies. There are many companies in Brooklyn and (although it would be nice to own them all) it is not owned by the same person. Stop creating these conspiracies.

  21. #21
    The idea of funding defaults is to cut down on the term to a 20 or 30 day deal, which decreases the risk since the term is extremely short. Once the merchant establishes a payment history many will stack and come into the deal.
    This is a concept that has been tested and done for the last two years on a large scale. There are 100s of default deals that have been funded and many of them enjoy a second chance to get back into the game.

    But.. no funder wants to lose money. These default shops take bigger risks for bigger returns but in the end if the deals go bad they will cut you off and stop the bleeding.

  22. #22
    Quote Originally Posted by yts94 View Post
    Landmark will go out 50 days for defaults as long as the banks are there.

    steve@landmarkfundgroup.com
    Show me your name on Bank statements

  23. #23
    Quote Originally Posted by FinancialSwissArmyKnife View Post
    Show me your name on Bank statements

    lol I don't understand why everyone is so against everyone else on here. I didn't know this would bring up controversy especially when by next week it's going to happen all over again with someone else new.

    this thread was made for options for default lenders. if you don't want to use them you don't have to

  24. #24
    Quote Originally Posted by FinancialSwissArmyKnife View Post
    Show me your name on Bank statements
    Lmao

  25. #25
    I致e actually funded with Landmark over the last month.

    Best part was no stips other than DL & VC and commission was paid right away.

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