Need a Funder or Vendor? START HERE

Results 1 to 11 of 11
  1. #1
    Senior Member Reputation points: 65969
    Join Date
    Jul 2017
    Posts
    542

    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?

  2. #2
    Senior Member Reputation points: 42992 SendDocsPlox's Avatar
    Join Date
    Nov 2021
    Location
    in this thread, vigorously mashing the refresh key
    Posts
    242

    Amex mca

  3. #3
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    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.

  4. #4
    Senior Member Reputation points: 65969
    Join Date
    Jul 2017
    Posts
    542

    Quote Originally Posted by abfunders View Post
    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.
    Gotcha. lll fix it a little bit. Is there a way to do a 1m plus deal with that type of rate where I can make money.

  5. #5
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Quote Originally Posted by freeprocessing View Post
    Gotcha. lll fix it a little bit. Is there a way to do a 1m plus deal with that type of rate where I can make money.
    Absolutely. Fee agreements (or lender points) and recurring residuals are the key ��

  6. #6
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Quote Originally Posted by SendDocsPlox View Post
    Amex mca
    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

  7. #7
    A forum user Reputation points: 2147483647 Sean Cash's Avatar
    Join Date
    Aug 2012
    Location
    New York City
    Posts
    1,878

    That's because they transitioned to Kabbage: https://www.kabbage.com/

  8. #8
    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.

  9. #9
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Quote Originally Posted by Sean Cash View Post
    That's because they transitioned to Kabbage: https://www.kabbage.com/
    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

  10. #10
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    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).

  11. #11
    Senior Member Reputation points: 66298 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,083

    Personal loan. 8% 3 - 5 year term.
    Steve Benjamin
    Professional Business Loans

    1012 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.

Similar Threads

  1. Replies: 20
    Last Post: 11-02-2021, 05:28 PM
  2. Replies: 6
    Last Post: 06-05-2020, 01:18 AM
  3. Just Some Fun Food For Thought
    By mcaguru in forum Merchant Cash Advance
    Replies: 6
    Last Post: 03-19-2019, 12:58 PM
  4. Just a Thought
    By J.Celifarco in forum Merchant Cash Advance
    Replies: 5
    Last Post: 08-27-2014, 11:23 AM
  5. Thought I would share this link.
    By CO1 in forum Merchant Cash Advance
    Replies: 16
    Last Post: 08-08-2013, 04:48 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY