Results 1 to 14 of 14
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11-14-2022, 09:17 AM #1
- Join Date
- Jun 2017
- Posts
- 10
Who Has The Best Rate and Term For 3rd positions,
Have a client I've worked with for years who typically only holds one position and renews once a year in November, but unbeknownst to me, a little over a month ago he m took a second position and now the original lender won't renew him.
Looking for a third position at the best possible buy rate as the merchant is extremely rate sensitive. Credit is roughly 800, does 200k a month and his balances total 54k. 12k first position, 42k second
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11-14-2022, 09:21 AM #2
- Join Date
- Mar 2021
- Posts
- 187
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11-14-2022, 09:47 AM #3
Any reason these people don't qualify for a term loan or SBA 7A? Or get a LOC if they need quick cash? Reach out if you need any help with these.
Just another suggestion, I'd look at the merchants' whole financial picture to see what they have now and what might be the best option for now and for the future. This industry needs people to be more like loan officers rather than just MCA brokers if you want be successful in the future.Last edited by Olderguy; 11-14-2022 at 12:00 PM.
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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11-14-2022, 10:49 AM #4
- Join Date
- Feb 2017
- Posts
- 3,463
If he's already got a first position LOC (which is why he's got the 1st), then business credit cards will be the perfect addition here. Alternatively, a revamped LOC in first behind the existing debt. (Is the 1st position Credibly? They don't stand for stacking I know.)
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11-14-2022, 10:55 AM #5
- Join Date
- Aug 2021
- Posts
- 120
I might be able to buyout that $12k balance, if not I can try for a 3rd ---- Depends on industry, daily balances & who's in the file.
email me Andrew@efinancialtree.comAndrew@efinancialtree.com
eFinancial Tree
C: 815 260 0284 (Call or Text)
Submissions@efinancialtree.com
https://www.efinancialtree.com/
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11-14-2022, 02:10 PM #6
- Join Date
- Nov 2019
- Posts
- 691
My Stack positions all have the same rates. I need to know more about the file. What are daily balances and what are the payments to both advances. If it is strong enough maybe we can buy out the 12k balance. Depending on industry and everything else i can go out to 10 months on a second maybe third position.
Scott Platto
scott@tmrnow.com
www.tmrnow.com
212-220-9872.
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11-15-2022, 09:08 AM #7
- Join Date
- Sep 2022
- Posts
- 58
We specialize in 2-4th positions
Terms from 3-10 months
We'd love to take a look at the deal if you still need some funding.
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11-15-2022, 09:29 AM #8
- Join Date
- Mar 2020
- Posts
- 133
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11-15-2022, 11:43 AM #9
- Join Date
- Jul 2022
- Posts
- 14
Depending on how rate sensitive the merchant is, Capitalize might be able to help you out with this one.
Please submit your deal to tyler@capitalizegroup.com for an offer.Capitalize Group | New York, NY. | Direct Funder
www.capitalizegroup.com | (347) 519-5323 | tyler@capitalizegroup.com
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11-15-2022, 12:11 PM #10
- Join Date
- Nov 2018
- Location
- NYC
- Posts
- 36
ufs
fiji
apex
pinnacle
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11-15-2022, 12:50 PM #11
- Join Date
- Mar 2021
- Posts
- 187
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11-15-2022, 01:53 PM #12
- Join Date
- Dec 2021
- Posts
- 638
Capybara Capital is where the Uber-Conservative (mainly merchant services ISO's) come to do their clients 3rds. (Reason Longer terms with great low buy-rates).
Marcus Clapman
Capybara Capital
marcus@capybarausa.com
www.capybarausa.com
646-708-5986 (Text Friendly!)
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11-17-2022, 11:07 PM #13
- Join Date
- Jan 2019
- Posts
- 25
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11-18-2022, 08:57 AM #14
- Join Date
- Mar 2016
- Posts
- 908
If you havent found a home for this yet, please let me know. If the 1st position is not going to refi this looks like a sick deal. Sounds like a 80-100k 2nd, maybe paying off the first? Probably will be in the mid 1.3's paying probably 4-6 depending where you land on cost. Let me know!
Thank you,
Lior Monus
Business Development Manager
CFG Merchant Solutions
Direct: (646) 880-6764
Cell: (516) 319-5826
Fax: (646) 278-7322
Lmonus@cfgms.com
180 Maiden Lane New York, NY 10038
www.cfgmerchantsolutions.com
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