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  1. #1

    Is she lying..... 3rd position 20 months @ 1.20 weekly payment.

    I just had a merchant tell me she is getting an offer for 80k @ 1.20 for 20 months with a weekly payment of 1200 bucks.. This is a 3rd position behind fund kite with Fundkite on a 1st and 2nd..... Is she lying... What lender would do this?

  2. #2
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    Sbfs?

  3. #3
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by wallerbusiness View Post
    I just had a merchant tell me she is getting an offer for 80k @ 1.20 for 20 months with a weekly payment of 1200 bucks.. This is a 3rd position behind fund kite with Fundkite on a 1st and 2nd..... Is she lying... What lender would do this?
    In the words of Mrs Cleo (RIP)

    She be lyin' to you girl.....
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  4. #4
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    I'm hearing craziest stuff ... yesterday for example i found out that a well-known funder was paying cash advance rates to his investors .......meaning there is a lot going on in the market and theremay be 2 pals in Mississippi that heard about MCA asks bar owner for 1M to put on street and so they start doing 24months at 1.20's ..... those guys get out quicker then they came in (which is hard to imagine based on how fast they got-in).
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

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    She is lying to you. If she had that offer she would not be shopping around and talking to you.

  6. #6
    Quote Originally Posted by closer129 View Post
    She is lying to you. If she had that offer she would not be shopping around and talking to you.
    This.

  7. #7
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    Yes highly likely its BS... but when you see many thousands of files a week ---you get to see a deal that makes no sense only to find out the funder was a credit card agent that decided he can do MCA's at 1.15 over 4 months)...... those guys don't last once there is any scale.
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

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    Quote Originally Posted by wallerbusiness View Post
    I just had a merchant tell me she is getting an offer for 80k @ 1.20 for 20 months with a weekly payment of 1200 bucks.. This is a 3rd position behind fund kite with Fundkite on a 1st and 2nd..... Is she lying... What lender would do this?
    Tell her you'd give her $100 bucks to see a copy of the contract. It also could be a bait and switch from an ISO, get he primed for a nice deal then kill it in UW and offer a "bridge" 60 day deal to get the original offer back.

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    Quote Originally Posted by MCA-VET View Post
    Yes highly likely its BS... but when you see many thousands of files a week ---you get to see a deal that makes no sense only to find out the funder was a credit card agent that decided he can do MCA's at 1.15 over 4 months)...... those guys don't last once there is any scale.
    How bad is your approval or closing rate? to be seeing "many thousands" of files a week and to barely see you on bank statements.

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    Quote Originally Posted by wallerbusiness View Post
    I just had a merchant tell me she is getting an offer for 80k @ 1.20 for 20 months with a weekly payment of 1200 bucks.. This is a 3rd position behind fund kite with Fundkite on a 1st and 2nd..... Is she lying... What lender would do this?
    Just tell her that you have a meet or beat policy and if you cant you will give her $500 after verified .

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    When I hear something from a merchant that I don't believe to be true, I tell them to sign those contracts and take that offer as quickly as possible because I nor any funder that I've ever seen can compete with that. Usually, this leads to the truth coming out about how this offer was a few months ago and might not still be valid or a number of other reasons why they are still on the phone with me.

  12. #12
    Quote Originally Posted by RickyR3712 View Post
    How bad is your approval or closing rate? to be seeing "many thousands" of files a week and to barely see you on bank statements.
    Exactly what I was about to ask! I think I've seen Capybara in statements 2-3 times in the past 6 months.

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    Quote Originally Posted by RickyR3712 View Post
    How bad is your approval or closing rate? to be seeing "many thousands" of files a week and to barely see you on bank statements.

    Your asking good question.
    Any funder will tell you that to fund 8 digits+ a month (my comfort zone) you need to go trough a lotsssssss of paper.

    Regarding conversions ---its very interesting I have 2 Marketing Guru's turned MCA brokers (out west and a little more west) that spend millions per month on the most creative marketing gimmicks (hard plastic credit cards/ out of the box Mailers that for some reason have the highest conversion rates, as they are super great at getting merchants to run to computer and LOG in with special codes) Typical isos fall into good to terrible but they all close great deals. so you keep the paper high....
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  14. #14
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by MCA-VET View Post
    Your asking good question.
    Any funder will tell you that to fund 8 digits+ a month (my comfort zone) you need to go trough a lotsssssss of paper.

    I've underwritten a lot, I barely see you in statements. (my comfort zone)
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  15. #15
    I’ve seen them twice. Basically good enough for me

  16. #16
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    Quote Originally Posted by BR-Nightmare View Post
    I've underwritten a lot, I barely see you in statements. (my comfort zone)
    That's comforting. (perhaps best news i heard this week). tells me i am not funding a lot of the recycled deal flow that ends up in your UW pile.
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  17. #17
    Senior Member Reputation points: 119752 BR-Nightmare's Avatar
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    Quote Originally Posted by MCA-VET View Post
    T (perhaps best news i heard this week)
    I would agree here, especially after we've put pieces together with all your "no inside sales" hooplah

    If an ISO wants to sign up with you, where do they go on your website?

    Plus if I not seeing you it's because maybe you're too pricey and I we don't wish to be that straw the breaks the Merchant's back.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  18. #18
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    Quote Originally Posted by MCA-VET View Post
    I have 2 Marketing Guru's turned MCA brokers (out west and a little more west) that spend millions per month on the most creative marketing gimmicks
    I highly doubt that. There are no brokers brokering that volume to justify the cost. They would turn funder well before they get to the point to sustain 1mm+ in marketing. That's like 500+ funded units a month lmao

  19. #19
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    Unless the funder is looking and the 2 fundkite positions as one and the balance is 40k and they are paying it off I would say this is total BS. If it is an A paper file and the balances are low enough to be paid off maybe it is real but I would assume it is total BS
    John Celifarco
    Managing Partner
    Horizon Funding Group

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    T: (347) 773-3990 | F: (718) 795-1990
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    Quote Originally Posted by mistamca View Post
    I highly doubt that. There are no brokers brokering that volume to justify the cost. They would turn funder well before they get to the point to sustain 1mm+ in marketing. That's like 500+ funded units a month lmao
    your right I wrote MCA broker...they do all kind of business loans / equipment leasing,etc. i am shocked you doubt someone is spending 1M+ on marketing to merchants across America.
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  21. #21
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    Quote Originally Posted by MCA-VET View Post
    Your asking good question.
    Any funder will tell you that to fund 8 digits+ a month (my comfort zone) you need to go trough a lotsssssss of paper.

    Regarding conversions ---its very interesting I have 2 Marketing Guru's turned MCA brokers (out west and a little more west) that spend millions per month on the most creative marketing gimmicks (hard plastic credit cards/ out of the box Mailers that for some reason have the highest conversion rates, as they are super great at getting merchants to run to computer and LOG in with special codes) Typical isos fall into good to terrible but they all close great deals. so you keep the paper high....
    Marcus, you are not funding 10m a month plus. PLease stop. Also do your bosses not check Daily Funder before hiring you? Clearly not.

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