Results 1 to 13 of 13
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08-26-2020, 02:10 PM #1
- Join Date
- Sep 2018
- Posts
- 21
LoanMe's True Consolidation Loans!
See how we helped this borrower with our
True Consolidation Loan:
Contractor came to us looking for daily payment relief. They were paying $496.67 per day = $10,430.01 month. LoanMe was able to payoff the balance directly with their lender/funder, reducing monthly payments to just $1,490.74, freeing up $8,939.33 in cash flow with an additional $1,076.67 cash to the business!!
Final Approved Amount: $17,200
Tier: Tier C
Interest Rate: 104%
Term: 120 months/ 10 years
Minimum Monthly Payment: $1,490.74
Pay Off Info
LoanMe Loan: $17,200
Origination Fee: $1,720 (10%)
Payoff Amount: $14,403.33
Net Disbursement to Borrower 1,076.67
How can LoanMe help you #BeTheHERO?
Send us your True Consolidation Loan leads today!Jason Chalarca
LoanMe, Inc
949-535-7162
Email: jason.chalarca@loanme.com
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
Website: https://www.loanmebusiness.com/
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08-27-2020, 10:10 AM #2
- Join Date
- Apr 2019
- Posts
- 318
what is the payback ? early pre pay details ?
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08-27-2020, 12:58 PM #3
- Join Date
- Sep 2014
- Posts
- 263
Yeah interest rate of 104 percent
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08-27-2020, 01:04 PM #4
- Join Date
- Feb 2017
- Posts
- 3,433
Interest rate of 104% with no prepayment issues.
Which means that you're disciplined and pay down principal/interest it can be cheaper.
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08-27-2020, 01:07 PM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
How the F can you be disciplined to pay down quicker on a 104% deal?!?!? You should be disciplined enough NOT to take one in the first place. HolySmokes!!!!!!
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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08-27-2020, 01:21 PM #6
- Join Date
- Feb 2017
- Posts
- 3,433
Think of it like an interest-only payment with a balloon. It's a 10-year note after all.
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08-27-2020, 01:24 PM #7
- Join Date
- Feb 2017
- Posts
- 3,433
And it's not amortized, it's simple interest, which makes a huge difference.
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08-27-2020, 01:27 PM #8
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
I am sorry... 104% cost of capital in any form is unacceptable I don't care how you spin it.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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08-27-2020, 01:51 PM #9
- Join Date
- Feb 2017
- Posts
- 3,433
Kevin, with due respect, that's a value judgement for the business to make. If I were to stand to make $1mm by taking $100,000 at 104%, I don't think there's anyone here that wouldn't do it. If it's going to be paid back within 4 months (which is the LoanMe client that they're looking for), it will not cost 104%.
Of course, most businesses won't be able to do it, but there is the place for the quick bridge.
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08-31-2020, 02:37 PM #10
- Join Date
- Sep 2018
- Posts
- 21
No pre-payment penalties on ALL of our loans. If they're not aggressive and make ONLY the min payment they will end up paying a total of $161K.
We always recommend these clients to be aggressive and make more than the min mthly payment so they payoff sooner than later and save on interest.
Here are some examples for this client:
Mthly pyment Term Total interest
$2,640.91 10 mths $9,209.12
$3,796.19 6 mths $5,577.17
$6,754.61 3 mths $3,063.84Jason Chalarca
LoanMe, Inc
949-535-7162
Email: jason.chalarca@loanme.com
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
Website: https://www.loanmebusiness.com/
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08-31-2020, 02:38 PM #11
- Join Date
- Sep 2018
- Posts
- 21
Jason Chalarca
LoanMe, Inc
949-535-7162
Email: jason.chalarca@loanme.com
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
Website: https://www.loanmebusiness.com/
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08-31-2020, 02:47 PM #12
- Join Date
- Sep 2018
- Posts
- 21
Jason Chalarca
LoanMe, Inc
949-535-7162
Email: jason.chalarca@loanme.com
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
Website: https://www.loanmebusiness.com/
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08-31-2020, 03:57 PM #13
- Join Date
- Jan 2014
- Posts
- 1,375
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