[CO1]

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.

[Chambo]

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

[Scott Williams]

What term are you referring to? 6 month offer? I have seen lower on 3-5 month terms

[MCNetwork]

1.14 six month from On Deck with 3 points commission built in.

[skideeppow]

Credit Cash, 1.09 on 800k, 9 month turn

[MCNetwork]

Credit Cash, 1.09 on 800k, 9 month turn

THAT is sick! Too bad they pay super low commissions.

[skideeppow]

5% on 800k is still a pretty sweet commission.

[Sean Cash]

too be honest, I'm surprised Credit Cash is still in business. They've just been kind of lingering in the background.

[Chambo]

5% on 800k is still a pretty sweet commission.

You get 10% of what they make on the deal. they charge a fee (PSF, whatever) usuually of 10% to the merchant.

So your commish is around 1-2% on the deal

[CO1]

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. .

[Chambo]

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. .

I'm surprised you got the offers you did if the merchant goes negative as often and as much as you said. Tell him "times have changed" and to take what he has in front of him.

[CO1]

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.

[Sean Cash]

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....

[MCNetwork]

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.

Depends on what factor you're selling. If NL's program was 1.20 and you're trying to sell a 1.40, then he'll be reluctant to sign. Are you prepared to cut commission?

[Capital Stack]

Depends on what factor you're selling. If NL's program was 1.20 and you're trying to sell a 1.40, then he'll be reluctant to sign. Are you prepared to cut commission?

Good question MCNetwork. Today a lot of funders have adopted buy rate programs, where they set portfolio targets and turns. in some cases with cap markups and others no ceilings.

Hence CO1, if a merchant is qualify for a 1.20 you probably shouldnt be selling a 1.40.

[CO1]

$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

[CO1]

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.

[MCNetwork]

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'

[ISELLCASH]

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. .

Try Strategic Funding or Rapid Advance. As long as there is a decent reason for the negative balances, either of them should be able to give you more than a 30k option on a split deal

[ISELLCASH]

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