Results 1 to 25 of 26
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03-11-2020, 12:41 AM #1
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- Sep 2019
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- 402
What If We Go Full Blown Italy?
If we go full blown Italy: massive quarantines (voluntary or otherwise), cancellation of events, limited exposure etc. what is your best guess on what happens to the industry from a broker, funder and merchant demand and performance perspectives?
Are there more merchants who need money but less who will pay? Will tons of existing merchants default? Will brokers or funders go under? Any educated guesses from experienced members?
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03-11-2020, 10:25 AM #2
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- Feb 2019
- Posts
- 124
demand will spike then taper off. get a little cushion in to bridge until this blows over. if its prolonged, defaults will go up unless there's forgiveness granted somehow. struggling funders may lay off employees and chill on receivables. remember when mca started to thrive after the mortgage bs? this may lead to ficos dropping, tax liens, etc dropping business profiles down. May bring in new prospects that used to get bank money. more big money merchants. the bounce back will be very good. if it goes full blown
opinion
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03-11-2020, 10:27 AM #3
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- Dec 2013
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- 4,713
While others come on here with their opinions..let me just get this out here ...Mantis is funding away.... the moment you get a decline (or feel a low-ball offer) think Mantis ! .."TIP OF THE MONTH" not working with mantis sign-up ASAP bizdev@cresthillcapital.com
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
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Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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03-11-2020, 10:55 AM #4
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- Jun 2015
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- 754
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03-11-2020, 11:13 AM #5
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03-11-2020, 12:08 PM #6
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- Sep 2019
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- 402
Oh I'm not, but brokers are telling me that subs are slowing down BIG TIME. That's the concern.
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03-11-2020, 01:50 PM #7
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- Feb 2018
- Posts
- 1,349
As Roosevelt once said,
the only thing we have to fear is fear itself.....
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03-11-2020, 01:59 PM #8
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- Dec 2013
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- 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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03-11-2020, 02:35 PM #9
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- Sep 2019
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- 402
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03-11-2020, 03:33 PM #10
- Join Date
- Jul 2018
- Posts
- 54
I'm hearing funders are tightening their boxes heavily right now and not many offers are being given out for restaurants, daycares, basically anything reliant on customer flow.
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03-11-2020, 03:47 PM #11
- Join Date
- Dec 2013
- Posts
- 4,713
not the case at Mantis ... Not signed up now is the time..... bizdev@cresthillcapital.com
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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03-11-2020, 04:04 PM #12
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03-11-2020, 04:40 PM #13
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- Sep 2019
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- 402
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03-11-2020, 04:41 PM #14
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- Sep 2019
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- 402
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03-11-2020, 05:18 PM #15
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,477
It can get very bad, very quickly. The illness may very well pass withing the next few months, but the economic impact is going to be very....very bad.
Think of it this way.....
A nursing convention in California was scheduled for April. The organization cancelled the convention this past Friday. There were over 15,000 nurses registered for the show and countless exhibitors, sponsors, speakers, trainers, etc.
-Think of the loss of revenue and impact of the cancellation of this one event. There are hundreds of events like this in the country daily............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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03-11-2020, 05:20 PM #16
- Join Date
- Oct 2016
- Posts
- 4,318
Not going to mention their name, but received an email from one big money high risk funder saying they’ve paused funding for time being until things shake out with the coronavirus.
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03-11-2020, 05:33 PM #17
- Join Date
- Jun 2015
- Posts
- 3,321
funders will need to be handle stopping and lowering payments if needed, issues is some funders cant based on their cost of capital.
brokers need to be prepared if funders stop funding for a little to survive those months .
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03-11-2020, 05:34 PM #18
we will see how this plays out - people are always in need for this funding. (I hope)
FUND3R1
"Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each. --Christopher Rice"
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03-11-2020, 05:49 PM #19
- Join Date
- Feb 2019
- Posts
- 124
travel, restaurants, public places really might take the hit.. ecomm becoming preferred? lol
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03-11-2020, 05:50 PM #20
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- Sep 2019
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- 402
Too bad everyone can't just calm the heck down. 61,000 Americans died from the Flu 2 years ago and less than half of Americans even bother getting a flu shot.
We're going to tank our economy and industry for absolutely no good reason. Stay away from the sick and the elderly and they'll be fine.
What a shame/mess.
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03-11-2020, 06:06 PM #21
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- Oct 2016
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- 4,318
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03-11-2020, 06:55 PM #22
- 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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03-11-2020, 09:00 PM #23
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- Oct 2016
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- 4,318
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03-12-2020, 09:23 AM #24
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- May 2019
- Posts
- 22
We have received requests already from several merchants for reduced payments, which we have honored, due to their sales declines.
Washington State the most.
We have also adjusted our UW criteria.
But there will be much opportunity once this epidemic slows down.
Lets hope we all can weather this situation.
Stay strong !!!!
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03-12-2020, 09:50 AM #25
- Join Date
- Feb 2017
- Posts
- 3,411
How do we ensure that the merchants aren't penalized for this? Is it time for a new thread?
Ideas off the top of my head:
- List of funders who are doing things honestly by reducing payments because of COVID-19
- Give all merchants who are given this relief letters from the funders WHEN they reduce the payments, and a letter after they return to normal stating that they were in good terms the entire time (both are needed, BTW)
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