Need a Funder or Vendor? START HERE

Results 1 to 10 of 10
  1. #1
    Senior Member Reputation points: 14746
    Join Date
    Sep 2019
    Posts
    109

    Scared money doesn't make money

    This is a crazy time in our industry, lenders seem to be shutting down operations left and right, mostly out of fear and uncertainty (understandable).

    However, the true funders will continue to fund and weather this storm. Some may go out of business over this, but this will create more space for new funders.

    Do not be afraid my friends, business as usual, times like these are what creates a demand for us.

    When we shake this there will be alot of new prospects that have been cut off by banks.

    It is darkest before the dawn, but mark my words, 2020 will be one hell of a year for all of us (brokers and funders alike).

    Keep pushing and stay safe.

    -Ghost

  2. #2
    Senior Member Reputation points: 86751
    Join Date
    Feb 2018
    Posts
    1,346

    yes things will move on eventually. anyone who was around in 2008 knows this. its a cycle and will eventually go back to business

  3. #3
    Things will be amazing when this dies down. Right now funders like us who have over 200 million out on the street will be focused more on collecting/working with our merchants who have been affected by this and renewals as opposed to new deals. We are doing new deals as well, but no where near full capacity. I think next week we'll start to open up a bit more and work towards getting back to our normal funding.
    Last edited by Anthony@fundry; 03-17-2020 at 06:58 PM.
    Anthony
    Senior Funding Coordinator
    Anthony@fundersconnect.com
    Direct: 201-523-2596
    Fundersconnect Is An Approved Vendor of Delta Bridge Funding Products

  4. #4
    Veteran Reputation points: 134971 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,174

    Quote Originally Posted by Anthony@fundry View Post
    Things will be amazing when this dies down. Right now funders like us who have over 200 million out on the street will be focused more on collecting and renewals as opposed to new deals. We are doing new deals as well, but no where near full capacity. I think next week we'll start to open up a bit more and work towards getting back to our normal funding.
    To elaborate on Saracino's comments....Fundry is open and funding, just with more conservative criteria (like everyone else).

  5. #5
    Senior Member Reputation points: 54975
    Join Date
    Dec 2013
    Posts
    4,713

    I got 2 words --- "Mantis Funding"
    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

  6. #6
    Veteran Reputation points: 134971 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,174

    Quote Originally Posted by mcaguru View Post
    I got 2 words --- "Mantis Funding"
    Are you trying to insinuate...with a straight face, that MANTIS has not altered UWing and/or approvals at ALL during this crisis? That everything is being funded as it always was?

  7. #7
    Senior Member Reputation points: 54975
    Join Date
    Dec 2013
    Posts
    4,713

    Quote Originally Posted by Chambo View Post
    Are you trying to insinuate...with a straight face, that MANTIS has not altered UWing and/or approvals at ALL during this crisis? That everything is being funded as it always was?
    I am saying Mantis is Funding -- smart funders probably dont fund the same when they see a state getting hit with blizzards for next few months or a collage town Pizza shop going into summer break or a tax preparation firm leaving the April season.
    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

  8. #8
    Senior Member Reputation points: 8723 helpinghand's Avatar
    Join Date
    Apr 2015
    Location
    Cleveland
    Posts
    157

    Ghost hand that's my dude
    Hanna Kassis, JD/CPA

  9. #9
    Senior Member Reputation points: 18328
    Join Date
    Oct 2013
    Location
    Designer
    Posts
    569

    A couple of (institutional) banks have started to pull/reduce credit lines from funders. Not all, but a few.

  10. #10
    6th avenue capital is still funding. Any brokers that want to sign up with us and send deals in, please contact me: Frederick.Delgrosso@6thavecap.com
    SEE BELOW TEMPORARY GUIDELINES

    Hello


    *Due to the current Coronavirus situation* All SIC Code are on the watch list – This is an Temporary change we will adjust as we go.

    All Rules applies with the updated guidelines.

    This time is crucial, if you have any
    HEALTHCARE
    HOME HEALTHCARE
    PHARMACIES(STORE FRONT NOT ONLINE)
    LIQUOR STORES
    SUPER MARKETS
    LAUNDROMATS
    CLEANING SERVICE(JANITORIAL).
    ELECTRICAL
    HVAC
    SECURITY
    FUNERAL HOMES
    AUTO REAPAIR
    WHOLESALE/DISTRIBUTION
    Send them we are one of very few Direct Lenders that are operating right now. Good time to take this opportunity while we can. We have an express program for 50k if approved just need DL/VC- and Landlord contact info if merchant meets criteria.

    Max Term for the all SIC Code 8 months (1st pos) – Funding Cap 50K
    Max Term for 2nd Pos 6 months (Funding Cap 15K)

    Currently not funding in the following States
    NY, WA, MA, NJ, OH, IL, CT – other states will follow

    No High gross 1st and 2nd
    No MCA Consolidations
    No 2nd Position Advantage Program

    SIC currently not funding
    Restaurants
    Hotels
    Bars / Clubs / Dances Halls / Catering Halls and Catering Svc
    Event Venue
    Event Service companies
    Spas (Beauty and Barber shops, Nails Salons)
    Sports Centers & Gyms

    LIST OF FUNDERS NOT FUNDING*
    CAN CAP
    Knight
    Parr
    Rapid
    Rapid Platinum
    LG
    Forward
    Wellen


    *- TEMPORARY

Similar Threads

  1. Replies: 45
    Last Post: 07-26-2018, 11:38 AM
  2. Replies: 0
    Last Post: 04-11-2018, 02:10 PM
  3. Make Money With Declines
    By Collection Specialist in forum Promotions
    Replies: 1
    Last Post: 03-24-2016, 07:11 PM
  4. let's make some money
    By businessgrowthcapital in forum Promotions
    Replies: 4
    Last Post: 04-30-2014, 12:18 PM
  5. Where brokers go to make money
    By bdshaw in forum Business Loans
    Replies: 4
    Last Post: 03-24-2014, 11:30 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

SubcontractorHub, Lendica partner
BoA launches business loan marketplace
Quickbooks adds new LOC product


DIRECTORY