Results 1 to 11 of 11
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01-18-2022, 11:21 AM #1
- Join Date
- Jul 2017
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- 548
Question/Thought Of the Day
For merchants that are legitimately qualified, are there unsecured options aside from factoring that are in the 10% a year and under range?
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01-18-2022, 11:35 AM #2
- Join Date
- Nov 2021
- Location
- in this thread, vigorously mashing the refresh key
- Posts
- 256
Amex mca
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01-18-2022, 11:35 AM #3
- Join Date
- Feb 2017
- Posts
- 3,396
Banks provide unsecured lines of credit. Credit cards can be 0%. There are other types of secured LOC that can be in that range as well, using contracts/AR/inventory as collateral. Food for thought, factoring is pretty secured by buying debt on money already owed from companies that have outstanding credit. I'm just saying that the question is a bit skewed.
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01-18-2022, 12:19 PM #4
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- Jul 2017
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- 548
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01-18-2022, 12:30 PM #5
- Join Date
- Feb 2017
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- 3,396
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01-18-2022, 01:20 PM #6
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,926
Recently posted on web site
American Express is not accepting new customers for Merchant Financing. Existing customers can log in to manage their accounts.
https://www.americanexpress.com/us/business/business-funding/merchant-financing/Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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01-18-2022, 01:49 PM #7
That's because they transitioned to Kabbage: https://www.kabbage.com/
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01-18-2022, 01:50 PM #8
- Join Date
- Dec 2021
- Posts
- 41
New poster here and long time lurker. Micah is very honest and knows many different parts of this industry. If you need help or more I'd email him. Not many in this industry can be trusted, I trust him alot and if your, seeking help in a LOC I'd reach out to him. Obviously, you do as you wish.
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01-18-2022, 03:13 PM #9
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,926
Kabbage/American Express is no longer a MCA Product.
https://www.kabbage.com/funding/
"Each draw on the line of credit will result in a separate installment loan"Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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01-18-2022, 03:43 PM #10
- Join Date
- Feb 2017
- Posts
- 3,396
Kabbage never was an MCA product. This is what it always was. It had a front-heavy interest payment for the first few months, but there was officially no PPP (AKA principle-only payment and the interest is waved).
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01-18-2022, 09:15 PM #11
Personal loan. 8% 3 - 5 year term.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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