Need a Funder or Vendor? START HERE

Results 1 to 12 of 12
  1. #1
    A forum user Reputation points: 2147483647 Sean Cash's Avatar
    Join Date
    Aug 2012
    Location
    New York City
    Posts
    1,878

    RapidAdvance Acquires ProMAC

    Let's talk about this. RapidAdvance just purchased ProMAC's operating assets. Acquisitions are rare in this business. Is this the start of additional consolidation down the road?

    http://www.prnewswire.com/news-relea...207546401.html

  2. #2
    Senior Member Reputation points: 903 Scott Williams's Avatar
    Join Date
    Oct 2012
    Location
    Tampa, FL
    Posts
    220

    True. I guess we have only seen funders that collapsed and then got gobbled by another funder. I guess we will never know, but was Promac in financial trouble and needed a life line from Rapid? Or did Rapid make an offer to Promac that was too good to turn down.

  3. #3
    Banned Reputation points: 123
    Join Date
    Jan 2013
    Posts
    151

    RapidAdvance Acquires ProMAC

    Lifeline for sure

  4. #4
    A forum user Reputation points: 2147483647 Sean Cash's Avatar
    Join Date
    Aug 2012
    Location
    New York City
    Posts
    1,878

    Quote Originally Posted by cashguy View Post
    Lifeline for sure
    buying while distressed is still different than buying assets out of a bankruptcy. I'm sure there are a number of small funders that could use a lifeline and would accept being gobbled up.

  5. #5
    Veteran Reputation points: 134971 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,174

    Quote Originally Posted by Scott Williams View Post
    True. I guess we have only seen funders that collapsed and then got gobbled by another funder. I guess we will never know, but was Promac in financial trouble and needed a life line from Rapid? Or did Rapid make an offer to Promac that was too good to turn down.
    ProMac needed help that Rapid provided. They are still operating under the ProMac moniker, but with backing by Rapid. Think GBR and BFS

  6. #6
    A forum user Reputation points: 2147483647 Sean Cash's Avatar
    Join Date
    Aug 2012
    Location
    New York City
    Posts
    1,878

    good point chambo, although I've always been told different things about how the gbr bfs relationship was really structured. What is their arrangement exactly?

  7. #7
    Veteran Reputation points: 134971 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,174

    Quote Originally Posted by sean bash View Post
    good point chambo, although I've always been told different things about how the gbr bfs relationship was really structured. What is their arrangement exactly?
    GBR still operates as usualy, but with financal backing of BFS & their connections. Think CAN and AMI

  8. #8
    Veteran Reputation points: 134971 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,174

    or more accurately, MAIN STREET and Amerimerchant

  9. #9
    Veteran Reputation points: 134971 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,174

    or Bankcard Funding and SFS.....

  10. #10
    Veteran Reputation points: 134971 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,174

    Or ON DECK and DCC (heh heh, sorry, couldn't resist)

  11. #11
    Senior Member Reputation points: 3217 CO1's Avatar
    Join Date
    Apr 2013
    Location
    New York
    Posts
    644

    Chambo how do you know all this information?

  12. #12
    Veteran Reputation points: 134971 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,174

    what information are you referring to? The Rapid deal? Jeremy himself told me. the other info? I think everyone on the street knows that already

Tags for this Thread



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