Results 1 to 10 of 10
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12-09-2014, 12:09 PM #1
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
Is Direct Capital an MCA company?
This company is kicking my ass on the A paper with their 48 month 6% APR deals. Are they an MCA company? They seem to do their underwriting like MCA firms.
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12-09-2014, 12:12 PM #2
- Join Date
- Jul 2013
- Posts
- 352
They were acquired by CIT recently. They offer daily payment programs.
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12-09-2014, 12:21 PM #3
- Join Date
- Sep 2014
- Posts
- 430
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12-09-2014, 12:58 PM #4
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
Yeah I know. These guys are crushing it. Have no idea how they can be profitable unless they have zero cost of funds and very low overhead.
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12-09-2014, 02:05 PM #5
- Join Date
- Jan 2013
- Location
- Berlin, CT
- Posts
- 191
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12-09-2014, 03:06 PM #6
- Join Date
- Oct 2014
- Posts
- 260
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12-09-2014, 03:08 PM #7
- Join Date
- Jul 2013
- Posts
- 352
Now that they are part of CIT they do have access to very cheap money.
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12-09-2014, 07:11 PM #8
No they dont take on ISO's. we lost to a deal from them last week.
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12-10-2014, 12:10 PM #9
- Join Date
- Mar 2013
- Posts
- 33
According to their website they do accept what they call "partners" to sell financing. Has somebody communicated with them recently and they indicated otherwise?
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12-10-2014, 02:30 PM #10
- Join Date
- Aug 2014
- Posts
- 72
From my experience, Direct Capital partners with dealers (equipment dealers, truck dealers etc) to provide them an avenue to get a customer financed. They will allow them to offer some working capital in their loans as well as long as there is an existing relationship.
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