[Mattspin]

With PPP being extended, are you guys still seeing your MCA business struggling?



Matt Spinelli
ISO Manager
Spartan Capital
201-907-4042
matt@spartancapitalgroup.com

[Yankeeman07]

EIDL is also a factor @ 3.75% for 30 years

[Thegoodbroker]

This month has been so slow. I am calling my renewals 5 times a day. All they mention is PPP and EIDL. I am getting crushed.

[JParr]

Diversify your product offerings!

We slowed down a bit but overall posted YoY growth during the pandemic. Over the last few months our applications, approvals, fundings have been significantly trending upwards as well.

Business owners have put off purchasing equipment during the pandemic. With more people getting vaccinated and states reopening further we only expect it to get busier.

Find out if your clients have an equipment purchase on the radar and if they do, give me a call.

[RickyR3712]

EIDL is also a factor @ 3.75% for 30 years

How much is your business down because of it? Since February we are back up to precovid numbers on new deals, but still down on renewals.

[Yankeeman07]

How much is your business down because of it? Since February we are back up to precovid numbers on new deals, but still down on renewals.

I have multiple streams of income, and if a broker is being honest with a merchant - it is tough to argue that an MCA is better than an IEDL.
EIDL can be approved up to $500K - and if they have larger funding requirements, than I'm into SBA 7(a) territory.

I have more conversation with business owners purchasing their commercial building or they have considered a purchase
SBA is 6% for long term funding.

[Splitrecovery]

I have multiple streams of income, and if a broker is being honest with a merchant - it is tough to argue that an MCA is better than an IEDL.
EIDL can be approved up to $500K - and if they have larger funding requirements, than I'm into SBA 7(a) territory.

I have more conversation with business owners purchasing their commercial building or they have considered a purchase
SBA is 6% for long term funding.

On the flip side I have been doing collections in the industry for over 14 years and these last few months have been very strong as far as collections and levying on funds after judgment so funder collections on defaults should be up as well.

[Cyrileskenazi]

Just take a look at where your subs level is at today compared with prior PPP round 2 started. Then you got the answer.