[freeprocessing]

They had some pretty good programs including their reverses and the so called lines of credits. Does anyone else offer these where a merchant can choose to have a longer term at a higher rate or a shorter term (3-5 months) with a 1.19 buy rate? Aside from On Deck

[abfunders]

This is NOT a line of credit by any means. It has none of the characteristics of what a LOC can be.
A line of credit you can generally tap at any time without needing another approval.
There were no prepayment benefits which many lines have.
There was no "revolving" facility, that what you pay down you can draw again. It was simply a cash advance that needed 50% pay-down to do the renewal.

They allowed this 6-week small cash advance that you had to do a full renewal (as in consolidate - buy it out) and add MCA debt onto MCA debt. It was not 3-5 months.

[freeprocessing]

This is NOT a line of credit by any means. It has none of the characteristics of what a LOC can be.
A line of credit you can generally tap at any time without needing another approval.
There were no prepayment benefits which many lines have.
There was no "revolving" facility, that what you pay down you can draw again. It was simply a cash advance that needed 50% pay-down to do the renewal.

They allowed this 6-week small cash advance that you had to do a full renewal (as in consolidate - buy it out) and add MCA debt onto MCA debt. It was not 3-5 months.

Hence why I put everything in quotation marksor wrote "so called". Just like you know what I meant when I wrote Par "Line of Credit", that was my intent. Additionally, I did a deal right before they closed for 15 weeks. Regardless, although I am not a funder, I thought it was a very smart product and it won over alot of clients. Just wanted to see if other funders shared the same thought and/or offer that option.

[abfunders]

Yeah, I saw the "co called" after I posted, sorry. I figured that even though I wasn't talking to you, I was talking to the crowd in general. Yes, it definitely helped a merchant I gave a reverse to in the past.

[freeprocessing]

Yeah, I saw the "co called" after I posted, sorry. I figured that even though I wasn't talking to you, I was talking to the crowd in general. Yes, it definitely helped a merchant I gave a reverse to in the past.

No problem. I would also ask for all funders that have a 1.2 buy rate but the problem is some of these merchants dont qualify for that type of deal

[excelcap]

Greenwich Capital recently launched its Line of credit program. These programs buy rates are cheaper than 1.18 for 3-6 months in most cases. please email inquries@gcmcapitalgroup.com for more info.