Results 1 to 8 of 8
-
10-05-2021, 10:19 AM #1Member
Reputation points: 5125
- Join Date
- Mar 2020
- Posts
- 56
South end capital
Has anyone ever used them for MCAs, Equipment financing or real estate loans?
If so please share your experiences. Much appreciated.Benny Blanco From The Bronx
-
10-09-2021, 04:18 PM #2Member
Reputation points: 82
- Join Date
- Mar 2020
- Location
- Florida, USA
- Posts
- 7
Hi Benny,
I recently reviewed their site and have been wondering the same thing. I haven't ever worked with them, but am considering signing on as an ISO referral partner. I only hesitate as they only pay commissions on original fundings according to their online agreement. Agents/Brokers don't receive anything for subsequent fundings or renewals. Although I am still considering it for the good of my client, I find it a little offsetting that it's not at least a reduced fee vs nothing at all. But I am a little new to the game and still have a lot to learn. So I am not sure if I am just being a little too judgy.Everyone needs a BFF
Businessfundingfairy.com
-
10-09-2021, 05:17 PM #3Senior Member
Reputation points: 40937
- Join Date
- Dec 2016
- Posts
- 379
If a funder doesn't pay on renewals, you shouldn't fund with them at all.
-
10-10-2021, 04:14 PM #4Member
Reputation points: 82
- Join Date
- Mar 2020
- Location
- Florida, USA
- Posts
- 7
Thanks, that ended up being my final thought as well.
Everyone needs a BFF
Businessfundingfairy.com
-
10-12-2021, 02:33 PM #5Senior Member
Reputation points: 56070
- Join Date
- Dec 2015
- Posts
- 574
Their program is very similar to Smart Biz, but they fund bigger deals, and the compensation structure is different:
They pay out half a point in commission, vs Smart Biz 2 points, BUT, they allow you to PSF the merchant up to 12 additional points, while Smart Biz does not.
You do have to Fee the merchant AFTER they are funded however, they don’t bake the fee in or put it in their paperwork. It has to be separate.Do you remember love? That time you funded your first deal over 40K.....
-
10-12-2021, 02:37 PM #6Senior Member
Reputation points: 56070
- Join Date
- Dec 2015
- Posts
- 574
A couple of www.dumbleads.com clients use them. The terms are multi-year so I don’t know if worrying about renewals is that big of a concern.
You’re likely going to stack with an MCA if anything.
-
10-12-2021, 08:29 PM #7Senior Member
Reputation points: 62986
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
You can’t PFS 12bps on an SBA loan, It’s not allowed on SBA. SBA restricts fees to borrowers, and SmartBiz makes their money on the fee they charge the lender for the use of their platform. It’s not paid by the borrower.
Last edited by sigmundpannu; 10-12-2021 at 08:31 PM.
-
10-12-2021, 08:45 PM #8Senior Member
Reputation points: 56070
- Join Date
- Dec 2015
- Posts
- 574
It wasn’t specifically for SBA, it was their policy in general.
Originally Posted by sigmundpannu
Do you remember love? That time you funded your first deal over 40K.....
Reply With QuoteSimilar Threads
-
B2 Capital looking for closer - New office south Miami
By B2csp in forum Help WantedReplies: 0Last Post: 02-23-2021, 05:19 PM -
south end capital ppp loans
By Quickbizpartner in forum Deal BinReplies: 13Last Post: 04-07-2020, 11:41 PM -
South End Capital Corporation
By brokerCompany in forum Business LoansReplies: 5Last Post: 03-30-2018, 12:30 PM -
Anyone do business with South End Capital?
By WeFundIt in forum Financial ServicesReplies: 2Last Post: 05-28-2017, 09:32 AM -
CrestHill Capital Hiring South Florida HQ.
By mcaguru in forum Help WantedReplies: 0Last Post: 07-07-2015, 01:51 PM
