Results 1 to 20 of 20
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04-25-2013, 12:18 PM #1
What is the lowest factor rate you have seen?
What is the lowest factor rate you have seen since being in this industry? I personally witnessed a 1.11 an i have never ever seen anything like this in my MCA Career.
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04-25-2013, 12:24 PM #2
On Deck used to do 12 month 1.09's back in 07 and 08 when they started. 1.11-1.13 is about as low as anybody is these dasy....unless you count AMEX's sick rate of 1.06
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04-25-2013, 12:26 PM #3
What term are you referring to? 6 month offer? I have seen lower on 3-5 month terms
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04-25-2013, 12:38 PM #4
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
1.14 six month from On Deck with 3 points commission built in.
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04-25-2013, 01:47 PM #5
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 869
Credit Cash, 1.09 on 800k, 9 month turn
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04-25-2013, 02:40 PM #6
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
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04-25-2013, 02:55 PM #7
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 869
5% on 800k is still a pretty sweet commission.
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04-25-2013, 03:07 PM #8
too be honest, I'm surprised Credit Cash is still in business. They've just been kind of lingering in the background.
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04-25-2013, 03:14 PM #9
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04-25-2013, 03:22 PM #10
Ok; I have a situation on hand. This Guy that i have goes negative every month about 30k but processes about 130k i got the man approved for the funding with hold backs starting from 7-20% and deals that start from 70-133k but i cant make the guy sign the paper work i tryed every trick in the book and he used to be with new logic so thats time he got 30k for payback of 36 and a hold back of 20% so any suggestions. .
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04-25-2013, 04:37 PM #11
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04-25-2013, 05:27 PM #12
I have tryed that as well. I dont know what to do anymore. I have been going back and fowarth with this guy for 1 month now.
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04-25-2013, 05:38 PM #13
if he goes negative by 30k every month, he is lucky anyone is approving him. If newlogic was so good to him he'd renew with them, but I 'm guessing they won't take him back. That's your pitch. He's lucky and newlogic won't take him back. You're giving him a chance....
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04-26-2013, 10:06 AM #14
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
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04-26-2013, 10:21 AM #15
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04-26-2013, 11:20 AM #16
$71,000.00 $110,050.00 8.00% 1.550
$65,000.00 $97,500.00 8.00% 1.500
$60,000.00 $91,800.00 7.00% 1.530
$50,000.00 $70,000.00 7.00% 1.400
$105,000.00 $147,000.00 15.00% 1.400
$100,000.00 $138,000.00 15.00% 1.380
$97,000.00 $135,800.00 14.00% 1.400
$93,000.00 $128,340.00 14.00% 1.380
$106,000.00 $135,680.00 20.00% 1.280
$120,000.00 $159,600.00 20.00% 1.330
$133,000.00 $183,540.00 20.00% 1.380
$100,000.00 $128,000.00 19.00% 1.280
$114,000.00 $151,620.00 19.00% 1.330
$126,000.00 $173,880.00 19.00% 1.380
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04-26-2013, 11:21 AM #17
These are the offers I got and I didnt upsell or anything I was just planning on taking my commission and ach out something but depending on what he takes.
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04-26-2013, 01:40 PM #18
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
That's a nice range of offers. To close a deal of this size, you need to be on your A game. I can close this for you for a cut of the commission. They don't call me Mariano Rivera for nothin'
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05-15-2013, 11:44 AM #19
- Join Date
- May 2013
- Posts
- 67
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05-15-2013, 12:10 PM #20
- Join Date
- May 2013
- Posts
- 67
Try Strategic Funding and offer the merchant add ons. He probably has gone through the full renewal process when he was with New Logic and you may be able to tempt him by not having him pay his balance off every time he needs money