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09-22-2023, 09:25 AM #1
- Join Date
- Apr 2019
- Posts
- 41
Lenders are you here!?
25 FUNDED DEALS WITH DELTA IN 3 MONTHS........ WT...
We all know Ondeck, Mulligan, Kapitus, Credibly are barely funding... but.....
Where the hell are my B position lenders..... GBX, KCG........ They are nowhere in bank statements.....
What the hell is happening to this industry....
Is it me or EVERYTHING is HIGH RISK now!?
Where are my lenders that do 8-12 month terms all day!?
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09-22-2023, 10:04 AM #2
- Join Date
- Mar 2020
- Posts
- 133
This has been my experience as well for the most part. My approval rate is down like 25%. Deals that would have gotten a pretty nice A- or B paper approval last year are getting small high risk deals or nothing right now. I imagine it's due to uncertainty in the economy, rates and an increased number of defaults, so I'm not sure that I would be acting any differently if it was my money, but I sure would like things to go back to normal.
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09-22-2023, 11:47 AM #3
- Join Date
- Dec 2018
- Posts
- 37
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09-22-2023, 10:26 AM #4
- Join Date
- Jun 2023
- Location
- NJ
- Posts
- 11
If Delta is your idea of High Risk you must not have friends in low places
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09-22-2023, 10:28 AM #5
- Join Date
- Apr 2019
- Posts
- 41
Haha Agreed.
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09-22-2023, 11:20 AM #6
- Join Date
- Dec 2018
- Location
- 48 Wall St. New York, NY 10005
- Posts
- 271
Good Morning,
We are a B/C paper funder that goes out up to 12 months.
Reach out to discuss our guidelines and see if we would be a fit for each other.
Hope everyone has an excellent, "FUNDING FRIDAY"!Jeff Pecori
Business Development & ISO Relations
VitalCap Fund | 48 Wall St. | New York, NY 10005
P. 850.630.7509 Ext.101 | F. 646.219.7949
jeff@vitalcapfund.com
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09-22-2023, 12:14 PM #7
- Join Date
- Mar 2023
- Posts
- 11
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09-22-2023, 12:29 PM #8
- Join Date
- Dec 2018
- Location
- 48 Wall St. New York, NY 10005
- Posts
- 271
Jeff Pecori
Business Development & ISO Relations
VitalCap Fund | 48 Wall St. | New York, NY 10005
P. 850.630.7509 Ext.101 | F. 646.219.7949
jeff@vitalcapfund.com
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09-22-2023, 11:47 AM #9
- Join Date
- Nov 2019
- Posts
- 687
My company does all types of paper and we cap at 12 months depending on the file on first positions. Our first position renewals work like a line of credit in a way as well. our second position deals cap at 10 months depending on the deal. We also do cc splits and adjustable ach's for seasonal business.
Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872
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09-22-2023, 12:10 PM #10
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09-23-2023, 12:24 PM #11
- Join Date
- Apr 2019
- Posts
- 41
Scott, I called you 5 times and no answer
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09-25-2023, 05:01 PM #12
- Join Date
- Nov 2019
- Posts
- 687
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09-22-2023, 11:48 AM #13
Though our longest term is 9 months, We offer more aggressive dollar amounts than most funders!
Joey Andreoni
Rocket Capital
(C)848-318-2721
(O)786-954-5086
Joey@rocketcapllc.com
https://rocketcapllc.com/
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09-23-2023, 02:39 AM #14
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,977
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
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09-23-2023, 03:36 PM #15
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09-23-2023, 10:05 PM #16
- Join Date
- Dec 2015
- Posts
- 616
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09-22-2023, 11:50 AM #17
- Join Date
- Apr 2021
- Posts
- 92
Tons of factors when considering deal terms and the current economic and political landscapes are always a large one since its all about risk mitigation. We are averaging a funding term of 6.5 months with a good amount of 10 month terms over the past few months. Less approvals but wayyy more aggressive offers on qualifying deals.
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09-22-2023, 12:16 PM #18
- Join Date
- Mar 2023
- Posts
- 11
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09-22-2023, 12:20 PM #19
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09-26-2023, 10:45 AM #20
- Join Date
- May 2017
- Posts
- 25
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09-22-2023, 12:42 PM #21
The answer is because of defaults, plain and simple. It's not because they're "scared", or "projecting how the economy's gonna look in x number of months".
The merchants are gonna keep stacking themselves until they can't get anymore cash, then they'll have no option but to cut everyone off in order to keep their doors open. I think it's only gonna keep getting worse, unfortunately.
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09-22-2023, 09:47 PM #22
- Join Date
- Oct 2013
- Location
- Designer
- Posts
- 592
Most of my clients have only good things to say about VitalCap.
www.UccRadar.com - Large sales volume merchants filling out YOUR applications.
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09-28-2023, 12:27 PM #23
- Join Date
- Dec 2018
- Location
- 48 Wall St. New York, NY 10005
- Posts
- 271
Jeff Pecori
Business Development & ISO Relations
VitalCap Fund | 48 Wall St. | New York, NY 10005
P. 850.630.7509 Ext.101 | F. 646.219.7949
jeff@vitalcapfund.com
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09-23-2023, 10:16 PM #24
- Join Date
- Sep 2021
- Posts
- 21
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09-28-2023, 01:26 PM #25
- Join Date
- Jan 2017
- Posts
- 389
We are making great offers and our terms are 4-12+ months, funding 1-6 position deals. Not sure who is slowing down, we do see more competition within the same deals being submitted by different ISO's. Reach out and let's get your deals FUNDED now!
Paul Boxer
Merchant Marketplace
Chief Operating Officer
Chief Revenue Officer
Cell: (516) 805-9209
paul@merchantmarketplace.com
www.merchantmarketplace.com
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