[happyman]

Spoke to 4 high risk funders each of them are already seeing the impact of the coronavirus. Merchants calling saying they have to reduce payments. Truckers cant pick up packages in certain states.

They said they will not be funding until further notice. Crazy times.

[SFC]

Spoke to 4 high risk funders each of them are already seeing the impact of the coronavirus. Merchants calling saying they have to reduce payments. Truckers cant pick up packages in certain states.

They said they will not be funding until further notice. Crazy times.

Names??

[SFC]

Names??

Marcus is the bellwether here. If he goes, it's all shutting down.

[BROKER TIME]

Marcus is the bellwether here. If he goes, it's all shutting down.

forward finance is not funding any new subs

[SFC]

forward finance is not funding any new subs

They're going to HATE it when they're stuck buying out "worse" funders when this is over.

[mcaguru]

They're going to HATE it when they're stuck buying out "worse" funders when this is over.

This is certainly weird times --- one of my siblings was on a plane this lady sneezed 5 times in a row and the people jumped out of their seats screaming -- one lady started to interrogate her with a cloth over her face about all her whereabouts the last few weeks !!

[mikethemcaman]

forward finance is not funding any new subs

We didn't get any indication from Forward that they're not accepting any new subs, I guess our numbers with them are solid....

[BROKER TIME]

We didn't get any indication from Forward that they're not accepting any new subs, I guess our numbers with them are solid....

dont know but im not the only once receiving the email

[mcaguru]

Currently Mantis is Funding. I would love this to be an opportunity to board new ISO's -I will rush out agreements.

[WestCoastFunding]

This guidance by the SBA for the supposed $50B allocated in new low interest loans seems to be a bit of a joke. First the governors have to request specific areas within a state be designated a disaster area. That’s understandable, i suppose. But with global GDP crashing, shouldn’t the whole U.S. be designated? It seems like only the businesses in areas with high numbers of COVID-19 cases would qualify.

After that, the businesses have to show that they can’t access financing anywhere else. So that seems to mean they have to apply for conventional financing and be turned-down. That process could take weeks.

This seems way to cumbersome of a process when we are essentially in an economic “sudden stop” right now.

[cmarks]

This guidance by the SBA for the supposed $50B allocated in new low interest loans seems to be a bit of a joke. First the governors have to request specific areas within a state be designated a disaster area. That’s understandable, i suppose. But with global GDP crashing, shouldn’t the whole U.S. be designated? It seems like only the businesses in areas with high numbers of COVID-19 cases would qualify.

After that, the businesses have to show that they can’t access financing anywhere else. So that seems to mean they have to apply for conventional financing and be turned-down. That process could take weeks.

This seems way to cumbersome of a process when we are essentially in an economic “sudden stop” right now.

Well also Rubio is proposing increasing the SBA express from $350k to 1 mil, then increasing % of guarantees, up to 90% for 150k-5mil. They also want to reduce docs required, we'll see what passes

[WestCoastFunding]

Well also Rubio is proposing increasing the SBA express from $350k to 1 mil, then increasing % of guarantees, up to 90% for 150k-5mil. They also want to reduce docs required, we'll see what passes

The problem is Mitch McConnell said he isn’t going to move on any of this until after the Senate comes back from recess.

[cmarks]

The problem is Mitch McConnell said he isn’t going to move on any of this until after the Senate comes back from recess.

yea he just cancelled recess

[omegafund]

This guidance by the SBA for the supposed $50B allocated in new low interest loans seems to be a bit of a joke. First the governors have to request specific areas within a state be designated a disaster area. That’s understandable, i suppose. But with global GDP crashing, shouldn’t the whole U.S. be designated? It seems like only the businesses in areas with high numbers of COVID-19 cases would qualify.

After that, the businesses have to show that they can’t access financing anywhere else. So that seems to mean they have to apply for conventional financing and be turned-down. That process could take weeks.

This seems way to cumbersome of a process when we are essentially in an economic “sudden stop” right now.

With potentially 2% rates you essentially have free money worth the wait.

[SFC]

With potentially 2% rates you essentially have free money worth the wait.

Sounds like PayPal... and the we stack!

[WestCoastFunding]

With potentially 2% rates you essentially have free money worth the wait.

If they survive the wait.

[SFC]

If they survive the wait.

Marcus will fund them all, he's putting America on his back. Just don't ask where he's getting all that money from!

[skideeppow]

Rapid just suspended all restaurant funding

[tonymotts]

On my third one for the day fffffmmmmlllll

[Akanner]

Yup, a lot of merchants calling in to see what can be done with their loans.

[mcaguru]

Right now we are funding away... --Many old and new ISO's have been knocking on the door to join --- Never too late to get on board! expect fastest offers/few stips/double digit commissions! bizdev@cresthillcapital.com

[MR.SF]

Not going to lie...read this at 11pm last night in bed started having ptsd and checking the news on other websites thinking I missed some big development with Covid then I realized this guy replied to a 2 year old post...smh thanks for keeping me up all night

[Capital Infusion]

We are still funding but no more construction/trucking under 50k/mo for that reason.

We have no bank charter so have the freedom and flexibility to do logic-based underwriting. Call me directly and let me know what you need to get it done. We like to get funky 305-306-3060

- A-/C+ paper (no high risk)
- 1-4 positions
- Monthly/weekly remittance
- Max Approval: $500k
- Max Term: 15 months
- Max Upsell: 13 pts

Send all deals to iso@capital-infusion.com, cc: josh@capital-infusion.com

Josh Waxman
VP Sales & Business Development
E: josh@capital-infusion.com
P: 305-306-3060

[fundingsmbs]

are you saying those companies that use bank charters are handicapped by what they can do in UW? Do the banks they use also have to approve those files? I.E Web Bank, Celtic, Finwise, have to approve the approval of the MCA company? Curious how those contracts are drawn out between both parties because if the bank is holding the balance debt, I would think they do have a say in the deals in general? On the flip side, from a regulatory standpoint, they do insulate themselves from suits.

[Oxforddan]

I am pretty sure that the companies that use fed chartered banks just put the deal through the bank then buy it back the next day. So I wouldn't think they need to have it approved by the bank since its not sitting on their balance sheet for more than a few days at most. They are solely using the bank platform to skirt usury laws.