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  1. #26
    Senior Member Reputation points: 86751
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    https://www.cancapital.com/can-capital-update-covid-19/

    anyone know if they are planning on coming back? did a credit line get called?

    https://www.bankingdive.com/news/bfs...avirus/578547/

    same thing here, is this a credit line call issue?

  2. #27
    Senior Member Reputation points: 198007
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    Quote Originally Posted by fundingsmbs View Post
    https://www.cancapital.com/can-capital-update-covid-19/

    anyone know if they are planning on coming back? did a credit line get called?

    https://www.bankingdive.com/news/bfs...avirus/578547/

    same thing here, is this a credit line call issue?
    All the big guys that have (or had) bank or institutional money fell into some level of default with their lenders. These debt agreements generally place thresholds around cash flow velocity, customer defaults, portfolio delinquency and other portfolio concentration limits. The scale of the pandemic assured that those triggers would be tripped (to varying degrees) and the lenders tighten up and/or completely restrict merchant repayments from making their way to the funders to provide the liquidity to run their businesses and fund merchants. Most will be back, though some will be gone forever. I'd expect to see a very slow ramp for the bigger A-paper lenders and I don't see them ever getting back to where they were pre-pandemic.

  3. #28
    Quote Originally Posted by alex.isak View Post
    List of Current Funders through COVID

    So far confirmed


    REAL FUNDERS ONLY NO BROKERS


    OnDeck
    EBF
    FF
    Legend
    VCG
    VITAL
    24 Cap
    UFS
    CFG
    Yellow
    Queen
    HFH




    Can anyone add or think someone should be subtracted here ??


    If you are a funder that thinks they should be on this list feel free to post -
    no spamming please this post should serve as an insight to all


    I will update the list every week...

    Thnx in advance
    LIBERTY CAPITAL
    1-3 POSITION
    A-B
    MIN REV 60K

    Have funded consistently throughout Covid

    Reach out for guidelines and ISO agreement

    Kyle Lednik
    Director of Business Development
    kyle@lbtycapital.com

  4. #29
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    Where the hell is West Coast?

  5. #30
    Senior Member Reputation points: 198007
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    Quote Originally Posted by Big Mack View Post
    Where the hell is West Coast?
    Last I heard he had become a sign flipper for the local sub shop.
    Last edited by Nunya; 08-12-2020 at 11:37 AM. Reason: spelling

  6. #31
    Senior Member Reputation points: 76187
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    Quote Originally Posted by Nunya View Post
    Last I heard he had become a sign flipper for the local sub shop.
    are they hiring?

  7. #32
    Iou just funded a huge deal for me last week they are still funding like normal

  8. #33
    Senior Member Reputation points: 4367
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    Quote Originally Posted by NoBiggie View Post
    Is OnDeck still funding the way they were going before COVID or since their acquisition, they've changed their guidelines?
    Does anyone know if this accurate, is Ondeck funding renewals and new deals?

  9. #34
    Member Reputation points: 2466
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    Nextwave is open & funding!
    1st Position
    Min Rev $75K
    Up to 15M
    Paying up to 12 points
    Marissa Tabowitz
    General Manager
    Zero Fees Merchant Processing

    www.zerofees.com

  10. #35
    Senior Member Reputation points: 12452
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    Quote Originally Posted by Nunya View Post
    All the big guys that have (or had) bank or institutional money fell into some level of default with their lenders.
    I heard the same with the exceptions being Kapitus (SFS) and Credibly (securitizations).

  11. #36
    Senior Member Reputation points: 301165
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    Quote Originally Posted by SCCNY View Post
    Does anyone know if this accurate, is Ondeck funding renewals and new deals?
    yes funded a couple of new deals

  12. #37
    Senior Member Reputation points: 4367
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    Quote Originally Posted by Michael I View Post
    yes funded a couple of new deals
    thats good, thanks for the info

  13. #38
    Great to see that funding is picking up for ya'll .. If anyone needs assistance with Bookkeeping / Accounting, you know my drill My firm services about 50 MCA companies Brokers / Funders with all their Bookkeeping / Accounting needs. My cell number is 347-416-3928 and my email address is dassic@betteraccountingsolutions.com

    I have helped many here on this forum and looking forward to servicing all ya'll

  14. #39
    BizFund is funding... Reach out to Lea 646-351-1597 or lea@bizfund.com

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