[Rickinindy]

Hello

For over a year I sat here and read the DF daily. Never chimed in or discussed what I am about. Well times are changing so am I. I am simply a broker who started putting money into secured advances and building my own thing here in Indianapolis. Smaller staff, but unlike many in the game, I would broker deals to the companies I am signed up with but put 50% of my commissions into a savings account until I had enough money to deploy some money. I would syndicate with the right folks and only found a handful here. I am not here looking for syndication platforms. I am here looking for secured advance deals.

Before you start, no I am not here to run WBL game on you and play the white label broker thing. I have 22 years in this industry and quite frankly I am too old for those kind of games.

Here is what is different, your merchant does not pay for the appraisal, we simply do a desk top evaluation. If I like it and it makes money I am in

We underwrite and price like any MCA what is different is I am going to put a lien on the property in addition to the MCA usual to make sure I am getting paid back. I am not here to just take from the public either. I am going to secure MCA's and fund.

BECAUSE I am secured I will go 9,18,27 or 36 months my max rate will be a 1.49 (lowest 1.21)
I will hop behind the mortgage - it must make sense because if they default and I have to foreclose on them I have to pay that mortgage off to take control of the collateral. We do a risk assessment so it takes 6-12 hours for a approval - but we underwrite front side so no deal killing here. Only thing that kills a deal is when they stack up positions like dairy queen ice cream cones or there is a surprise lien they forgot to tell you about. (once again over 2 decades, if they have liens they know they have them, and so should you being their broker)

Businesses- essential or non essential- will look at

Here is an example, let's say you have a merchant doing 20K a month and looking at a MCA and lets say its first position and they have a house they live in and its worth 200K they bought and owe 75K on it still
MCA funder puts a deal out on a 1.37 on 114 days for 15K

I may put a 40K deal at a 1.49 and secure it but give 400 days setting the daily at 149 a day VS the 180 on the unsecured game for 15K

remember I am not running off a credit line I can do that and you just made 4K over making 1,500 and I renew at 50% just like anyone else would. Renewals get rates reduced here with me (there is that 1.40 over the 1.49 and still paying the 10) That is the type of stuff I am into

IF they are shut down currently I will need a plan of how and what they are doing to re-open and will do a deferment program with them to build them back up. I will ask for 12-18 months bank statements and all supporting info in that case. Let's jump in and go get this country back open, this is how we do it!

Title work and recording the lien, I front that and merchant pays back at my cost at closing and I do not add anything to that either.

I will not go beyond a 2nd position in secured so if they have a mortgage and then WBL that is not for me. I will look at files that have multiple MCA positions if they have some equity I may pay everyone off then jump in first position. NO that does not mean I want to see you back in the banks next week when I refresh my decision logic.

ISO's with me are paid 10 points of the funded amount. I do not have many ISO's but I have done some stuff on my own real estate and have plenty to go fund with now. These take me about 10-14 business days to get the title work recorded and we fund same day recording hits, pay on 3rd pull.

I am a closer too I am here to help you (or rather both of us) make money. I am charismatic and we will have fun while making money

If you want to know more about me and/or want an ISO agreement let's talk my contact info is below.

Ask your merchants if they have property we have money for them let's do this! MCA is not dead its secured that's how we fund post Covid!

[fin4all]

he said "Before you start, no I am not here to run WBL game on you" ...continues reading....is in fact wbl type game....

hes charismatic and a closer tho.

[Rickinindy]

OK so there are some similarities but here is the meat on the bone that is different

1. we do not ask the merchant to put up money for appraisals and title work before we fund a deal
2. I cap at a 1.49 some tell me they are as high as 1.79 and one told me he saw a 2.20 (holy $hit that's the second floor folks)

Appreciate the feed back

[bgreen]

Closer. Simple as that and a straight shooter. the collateral program rocks in times like these. Adapt or die folks.