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  1. #1

    Any 1st position lenders going out 10-12 months?

    Obviously this all depends on the file but are there lenders now that would do it in this market? Most of my current lenders funding in this environment are capped at 7-8 months.

  2. #2
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    That's all I've seen too - amazing how quickly we get used to things...i saw 160 days the other day and got really excited. lol

  3. #3
    Really starting to miss lenders like Rapid Finance. I hope these guys rebound.

  4. #4
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    Quote Originally Posted by FUNDITNOW View Post
    Really starting to miss lenders like Rapid Finance. I hope these guys rebound.
    at least commission points are back in play for some people. par - 15, bizfund - 12

  5. #5
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    We are doing 8 months paying 12 points.
    PDM Capital
    39 Broadway
    New York, NY 10006
    646-876-1055

  6. #6
    For the majority of the lenders that we work with currently funding comp structure stayed at 12%. It seems like the term is taking the biggest hit in this market.

  7. #7
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    Quote Originally Posted by FUNDITNOW View Post
    Obviously this all depends on the file but are there lenders now that would do it in this market? Most of my current lenders funding in this environment are capped at 7-8 months.
    Credibly is. Though notoriously hard to get approved as an ISO if you are not already. Work with a Super ISO who has the relationship and will submit for you. It's clearly worth paying the extra couple of points to get the deal done at a 50% longer term/could be the difference between not getting the deals done at all.

  8. #8
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    SBA 7(a) - 10 Year Working Capital Loans
    >$350K up to $5 Million

    ***
    For loans made after March 27, 2020 and fully disbursed prior to September 27, 2020, SBA will begin making payments with the first payment due on the loan and will make six monthly payments.
    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    http://www.fcbankcard.com
    1-213-825-0179 (Text or Leave Message)
    Office: 727-233-1111

  9. #9
    Greenwich Capital started funding again last week. We do not have much restrictions on industry (other than car sales and law firms) . All we will require is 25k in the last 30 days of revenue.

    let me know if anyone would be interested in an iso agreement. We are one of the few that are fully open here that go out past 6 months on term.

    Hope to help bring life back to the industry during this troublesome time~

    Also if your not familiar we are not one of the funders doing 1.499 over 20 -30 days like a lot of other players. Our buyrates start at 1.18 and we go out to 12 months offering daily, weekly and biweekly payments.

    For those interested please email Inquiries@gcmcapitalgroup.com and CC Nathan@gcmcapitalgroup.com

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