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  1. #26
    Senior Member Reputation points: 3418 kevin85k's Avatar
    Join Date
    Sep 2017
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    122

    Quote Originally Posted by Ifunddaily View Post
    Whos secured and BHB? Plenty better second position funders then fox and the ones listed
    BHB is a small shop in Florida. Type of lender who lets you explain the offer. Good people.
    Secured is based out of Brooklyn. Gabby and Daniel AWESOME GUYS!!!!! They are solid people!! DM me if you need more details.

    ***And I'm sure there's amazing 2nd position lenders out there. I was just giving my opinion***

  2. #27
    Senior Member Reputation points: 20458 Fundyman's Avatar
    Join Date
    Dec 2013
    Posts
    710

    Quote Originally Posted by ryan $ View Post
    COVID Personally Kicked my F*CKING ASS.

    I've always worked for other people, well when I was 20 I thought I had it all figured out, went out on my own, Funded 3 Deals and placed 3 Processing Accounts. Funded w/MCC (Via Isaac Stern while at 2nd Source) and Tribul had Processing. I never got Paid, but thats a whole other story.

    COVID ****ing throttled me.
    I went out on my own, Leased Office space, Installed Security System and moved in. Scheduled Interviews for following weeks to expand staff. BOOM, Lockdown begins, interviews off, office space empty, me and my Partner start working from home, closing deals ourselves. We stayed afloat, for 2 People... we weren't doing bad at all, I was working ISO Deals, while Partner was hitting the phone.

    COVID round 1 Struck, I stayed in bed for like 30 Days.

    Came back to work, apologized to ISO's... maybe got a Month in....BAM COVID Positive Round #2 (Variant)
    This one really really ****ed me up. FFWD another 40 Days, and I was easing in to work, calling Renewals, taking a few Live Transfers a day... basically trying to get into swing of things.

    Entity was sued by a Merchant because we didn't Fund a Contract (Literally the timing was a PERFECT STORM, we had some money to play with, in house fundings were going great and profitable, so we decided to jump out the window and basically "bet it all on black" essentially. Instead of doing what had been working (5-10k Deals) we agreed to fund one giant contract.... we didn't even have all the Funds, we had to wait 3 Days to collect outstanding RTR on other files in order to fund, and then BAM, its like a bomb went off, ALERT AFTER ALERT of Bounced Payments, Stopped Payments, Phone ringing and ringing for adjustments. It's like what the ****!

    So anyway the Merchant Sued us because we didn't Fund the deal after Contract was Signed. He just could not understand that signing a contract is not a guarantee to fund. It still has to be reviewed, and can be declined for any reason - Including "Our Entire Portfolio is Dropping like Flies and its Armageddon"

    After this I just said **** it.

    Thankfully I wasn't the owner of the Entity at the time this Customer was first submitted, subsequently Issued contracts and not funded. I had transferred sole ownership about a month prior, and stayed on as an employee. The whole thing taught me I can Fund Deals like a madman, but all the extra stuff, dealing with employees and their issues, being responsible for a company and everything that goes with that....NOT FOR ME!
    SHEESH!!! If anything, after hearing that story, I'd rub a magic lamp & wish for that resilience & work ethic! I know very few that have such degree of tenacity to hang in there while going thru the damn COVID itself! I had 9 real estate deals approved, damn near @ once last year. Saw them all die within 2 weeks time. It was like a damn living movie unfolding in front of my eyes, but I'm the main character & the story won't end well..

    Stay up, bud. From what we see here, there are better days ahead!

  3. #28
    Quote Originally Posted by Fundyman View Post
    Good morning.

    I just need a quick list from you guys of who are the best funders to work with now, after this COVID season has shaken the industry so much. I need A-D paper funders, at least a good 10 to work with.

    Please tell me, based on your experience, who is most legit because I've already had crappy experiences w/ pretenders who ended up just taking my deal to Vader to get funded, like I couldn't just go to Vader myself...

    I need FUNDERS; not brokers, syndicators, posters, etc... FUNDERS, please.

    Hi we fund B-D Paper 2-7 positions as well as reverses.


    ISO Relations
    Blade Funding INC
    O:732-285-4110 Ext 103
    D: 732-746-5103

    E: moe@bladefunding.com
    W: bladefunding.com

  4. #29
    Hey, we are a legitimate funding house at FundFi. We have everything you are looking for: speed, minimal stips, extremely competitive underwriting, and a trustworthy team. Give s a shot and we will be funding consistently. B/C paper. Reach out eric@fundfimerchantfunding.com

  5. #30
    Thanks, Kevin I appreciate it, brother!

    Danny Laniado
    Secure funding source
    daniel@fundsfs.com
    www.fundsfs.com

  6. #31
    Spartan Capital is funding everyday.

    I will get your deals underwritten quickly and get your customers funded SAME DAY.

    We work with B, C, and D paper.

    Fund up to 2 Million

    and go out to 5 positions.

    Give me a call or send me an email and lets do business!


    Matt Spinelli
    Sr. ISO Manager
    Spartan Capital
    305-677-9487
    matt@spartancapitalgroup.com

  7. #32
    Senior Member Reputation points: 86751
    Join Date
    Feb 2018
    Posts
    1,346

    Quote Originally Posted by ryan $ View Post
    COVID Personally Kicked my F*CKING ASS.

    I've always worked for other people, well when I was 20 I thought I had it all figured out, went out on my own, Funded 3 Deals and placed 3 Processing Accounts. Funded w/MCC (Via Isaac Stern while at 2nd Source) and Tribul had Processing. I never got Paid, but thats a whole other story.

    COVID ****ing throttled me.
    I went out on my own, Leased Office space, Installed Security System and moved in. Scheduled Interviews for following weeks to expand staff. BOOM, Lockdown begins, interviews off, office space empty, me and my Partner start working from home, closing deals ourselves. We stayed afloat, for 2 People... we weren't doing bad at all, I was working ISO Deals, while Partner was hitting the phone.

    COVID round 1 Struck, I stayed in bed for like 30 Days.

    Came back to work, apologized to ISO's... maybe got a Month in....BAM COVID Positive Round #2 (Variant)
    This one really really ****ed me up. FFWD another 40 Days, and I was easing in to work, calling Renewals, taking a few Live Transfers a day... basically trying to get into swing of things.

    Entity was sued by a Merchant because we didn't Fund a Contract (Literally the timing was a PERFECT STORM, we had some money to play with, in house fundings were going great and profitable, so we decided to jump out the window and basically "bet it all on black" essentially. Instead of doing what had been working (5-10k Deals) we agreed to fund one giant contract.... we didn't even have all the Funds, we had to wait 3 Days to collect outstanding RTR on other files in order to fund, and then BAM, its like a bomb went off, ALERT AFTER ALERT of Bounced Payments, Stopped Payments, Phone ringing and ringing for adjustments. It's like what the ****!

    So anyway the Merchant Sued us because we didn't Fund the deal after Contract was Signed. He just could not understand that signing a contract is not a guarantee to fund. It still has to be reviewed, and can be declined for any reason - Including "Our Entire Portfolio is Dropping like Flies and its Armageddon"

    After this I just said **** it.

    Thankfully I wasn't the owner of the Entity at the time this Customer was first submitted, subsequently Issued contracts and not funded. I had transferred sole ownership about a month prior, and stayed on as an employee. The whole thing taught me I can Fund Deals like a madman, but all the extra stuff, dealing with employees and their issues, being responsible for a company and everything that goes with that....NOT FOR ME!
    2nd Source and Tribul! Wow, old school..... The stories you could tell

  8. #33
    Member Reputation points: 895
    Join Date
    Feb 2020
    Location
    Anaheim, CA
    Posts
    85

    Hi there,

    LoanMe is a direct Lender and Funder. We offer a Small Business term loan in 29 states + Washington DC and an MCA product in the remaining 21 states.

    The SBL product ranges in size from $3500-$100K + has a True Consolidation Loan sub product that can go up to a Jumbo True Consolidation of $200K or a mixture of Consolidation and cash out (no net requirement.) No industry restrictions, low bar for minimum qualifications. Though a short term capital loan in nature, terms go out up to 10 years with simple per annum interest rates starting at 39% & no early prepayment/repayment penalties or fees of any kind.

    The MCA product ranges in size from $5000-$100K, with buy rates starting at a 1.14, up to 10 points of broker commission can be added to any MCA deal, and up to a 12 month term. Any merchant who pre-qualifies is eligible for a daily OR weekly payment.

    No industry restrictions across either product, provided the business is for-profit.

    For additional info please call or E-mail via the contact information below.

    Cheers.
    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

  9. #34
    Banned Reputation points: 852
    Join Date
    Jul 2021
    Posts
    28

    High risk lender

    Hi

    We are Mr Advance, a High Risk in house direct lender specializing in 2nd-6th position files. I will 100% entertain 1st position deals but I will be honest I am not as aggressive there because I like something with a little bit of a pay history.
    Looking for merchants generating a minimum of 20k per month
    I have no industry restrictions
    I will fund defaults only with a letter of satisfaction/pay off letters

    Please contact me at daniela@mradvancellc.com

    Daniela G. l ISO Relations
    Direct:1(201)-616-6331

    Fax:1(315)-758-1743

    35-12 SUITE 3-W 19TH AVE,
    ASTORIA, NY 11105
    Website: www.MrAdvancellc.com

  10. #35
    Senior Member Reputation points: 18328
    Join Date
    Oct 2013
    Location
    Designer
    Posts
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    Quote Originally Posted by fundingsmbs View Post
    2nd Source and Tribul! Wow, old school..... The stories you could tell

    2nd Source, means Ryan's a G












    www.UccRadar.com

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