Results 1 to 18 of 18
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12-23-2021, 03:35 PM #1
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- Jul 2017
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Who Doesnt Require a PG Aside From Kalamata?
Thanks!
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12-23-2021, 03:37 PM #2
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12-23-2021, 03:53 PM #3
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- Jul 2017
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- 548
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12-23-2021, 03:54 PM #4
- Join Date
- Oct 2021
- Location
- San Francisco
- Posts
- 15
Happy December!
We're currently taking on new ISO's and funding your A-D paper deals.
We do run credit on every deal prior to funding but do not make our decision solely off of the score.
We do not fund prior defaults or merchants with history of bankruptcy no matter the status. Buy rates starting at 1.20's. and we go out up to 15 Months.
Max upsell allowed. Commissions from 5% to as high as 15%.
Please feel free to reach to so we can get acquainted.
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12-23-2021, 04:01 PM #5
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- Jul 2017
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- 548
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12-24-2021, 01:02 AM #6
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- Dec 2016
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- 379
If you don't require a PG you're a moron
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12-24-2021, 01:24 AM #7
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12-27-2021, 11:07 AM #8
- Join Date
- Feb 2018
- Posts
- 1,349
anyone using fdic banks for their loans def has PGs and tough one's if you read through it. Finwise, Web bank, Celtic and other contracts MCA use for their loans, all have strong recourse language on defaults
what does kalamatas contract say on sections with PGs ? Must be some sort of recourse languageLast edited by fundingsmbs; 12-27-2021 at 11:10 AM.
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12-27-2021, 11:11 AM #9
- Join Date
- Mar 2015
- Location
- Boynton Beach
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- 3,483
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-27-2021, 12:40 PM #10
- Join Date
- Dec 2021
- Posts
- 4
Our contracts do not have a personal guarantee of performance. The "Seller" is the business, and the "owner" signs as an agent of the business and NOT a guarantor. We are a new funder, but I have been in the industry for 7 years
We primary fund higher-risk deals, but I can discuss lower factor-rate deals case by case.
Feel free to reach out!Ari Rashkin - ari@lilyadvance.com - 901-586-9154
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12-27-2021, 12:52 PM #11
- Join Date
- Feb 2018
- Posts
- 1,349
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12-27-2021, 12:53 PM #12
- Join Date
- Feb 2018
- Posts
- 1,349
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12-27-2021, 01:02 PM #13
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,483
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-27-2021, 01:17 PM #14
- Join Date
- Feb 2018
- Posts
- 1,349
certain funder's use banks to fund their deals to export rates across all state lines without state usury issues. within those contracts, there are pgs correct. the purchase/sale contracts, which are the MCA DNA, usually are performance pgs only. So I guess true loans, PG, MCA's, should be performance pg. Of course, for awhile there, COJs were attached to MCAs as well which was a very bold PG.
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12-27-2021, 04:53 PM #15
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- Dec 2021
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- 4
Ari Rashkin - ari@lilyadvance.com - 901-586-9154
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12-27-2021, 07:35 PM #16
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- Dec 2016
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- 379
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12-27-2021, 10:20 PM #17
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- Feb 2018
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Because a PG that takes the assets of a borrower is a loan when a default occurs. An MCA, if the business suffers an adverse situation, is not held personally liable for the repayment. If you require a merchant to repay you absolutely, it may be challenged in court. *i.e. Pearl Capital Rivis Ventures V RDN Construction (re: Fixed ach payments) . I would say anyone that doesn't have a true up provision and is requiring a PG and fixed daily weekly, is a sitting duck for legal
This is why you have seen a migration of companies partnering with banks to avoid these obstacles
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12-28-2021, 11:02 AM #18
- Join Date
- Jun 2019
- Posts
- 44
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