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  1. #1
    Member Reputation points: 895
    Join Date
    Feb 2020
    Location
    Anaheim, CA
    Posts
    85

    Cool LoanMe now Offering True Consolidation Loans

    LoanMe is pleased to announce that we have developed a TRUE CONSOLIDATION LOAN program. This new relief product keeps all of the features and benefits borrowers and partners enjoy about the regular LoanMe term loan products:

    • Terms from 2-10 years
    • Lower More Affordable Minimum Monthly Payments
    • No Pre-Payment Penalties
    • Broad Business Types: Any "For Profit" business eligible
    • 90+ Days Time in Business
    • 25% Minimum Ownership Percentage
    • Any Valid FICO eligible (600+ preferred)

    Whats NEW for them:

    • Consolidation amounts up to $100k, and as low as $3,500
    • 0% Net disbursement requirements- A True Consolidation
    • What we save them in payments "added back" to our qualification calculations
    • Payoff 1 funder or 10 funders; the # of balances is irrelevant- it's more about the actual outstanding $ amount owed
    • Money left over? No problem; in some cases we can payoff and net borrowers the difference; giving them both relief and cash out

    Whats NEW for you:

    • New Lead Sources- Go back through your existing book of business. For some of you this could be years and years worth of data. Find the ones that may be over leveraged and offer them relief!


    If you're a current LoanMe ISO partner please reach out to us if you need more info.

    If you'd like to discuss an ISO partnership with LoanMe, please reach out to me via the below phone number or E-mail address.

    Cheers.
    Joel S Galasso
    National Accounts Manager
    Small Business Loans
    Main: 949-535-7798 | business.loans@loanme.com

    1900 S. State College Blvd. Suite 300 Anaheim, CA 92806
    Joel S Galasso
    Senior National Accounts Manager
    Small Business Loans
    Main: 949-535-7798 | business.loans@loanme.com

    1900 S. State College Blvd. Suite 300 Anaheim, CA 92806

  2. #2
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Just Curious - I'm not a lawyer but how can a 25% owner sign a contract?

    "25% Minimum Ownership Percentage" or for that matter a 49% Owner?
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  3. #3
    Senior Member Reputation points: 337045
    Join Date
    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    Quote Originally Posted by Yankeeman07 View Post
    Just Curious - I'm not a lawyer but how can a 25% owner sign a contract?

    "25% Minimum Ownership Percentage" or for that matter a 49% Owner?
    If the operating agreement gives them authority.....it's allowed. It's common practice. The key is to making sure their is an operating agreement in place that is valid. There is a case in South Florida right now where the CFO, a minority owner signed an advanced and took the money for himself. The company's attorney is going after the advance company for the money that was taken from the accounts and the bank for allowing the advance company access to the accounts when the CFO had no authorization to sign any documents. If the advance company wants their money back, they will have to get it from the CFO who is now in prison.
    Hedley Lamarr......That's Hedley

  4. #4
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Interesting Situation - As the world turns in the MCA World
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  5. #5
    Member Reputation points: 895
    Join Date
    Feb 2020
    Location
    Anaheim, CA
    Posts
    85

    Quote Originally Posted by Yankeeman07 View Post
    Just Curious - I'm not a lawyer but how can a 25% owner sign a contract?

    "25% Minimum Ownership Percentage" or for that matter a 49% Owner?
    Great question. Our loans are unsecured and personally guaranteed. It's the borrower taking on the responsibility, not the business.

    Let me know if you need any additional information.

    Thanks.
    Joel S Galasso
    Senior National Accounts Manager
    Small Business Loans
    Main: 949-535-7798 | business.loans@loanme.com

    1900 S. State College Blvd. Suite 300 Anaheim, CA 92806

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