[ONEFUND]

Looking for lenders that will actually consolidate 1-3 positions to come in as a first on strong files.

[Olderguy]

SBA 7A if strong file.

[MichaelP]

Looking for lenders that will actually consolidate 1-3 positions to come in as a first on strong files.

1 position almost everyone will do. 2 I've heard of before, but pretty rare. 3 or more, wouldn't that be sweet if someone would do that? I've never found someone who will, or even heard of someone doing it because whoever does it can all but guarantee they're going to get stacked. Let us know if you find someone though.

[closer129]

Looking for lenders that will actually consolidate 1-3 positions to come in as a first on strong files.

Most likely I will not payoff 3 positions to go into first because the cost of the merchant is more than doing another position 99% of the time. There is also more risk because the merchant may realize the cost to get the money is a lot more expensive and try to not payback on time to make the cost more beneficial. They can go right back and stack several times again. I have paid off a stack position or 2 and went into a stack position if it made sense and depending on the file and who the funders are. Then the merchant stayed with us as a first position and never stacked because they saw we look out for the merchants best interest. They also stay because we do not refinance our own balance on first position renewals we just add the new money o the back end and they do not pay for the new money until the old is finished which is kind of like a line of credit in a way.


Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872

[fundinggrasshopper]

paying off 3 positions very tough. The only two i can think of that would consider buying out 3, if the file is extremely strong, are biz2credit and IOU

Most A Paper & many aggressive B paper funders will pay off 2 or 1 position. Where to place, depends on how strong the file is, and how prime, or sub-prime, the applicant is.

Mulligan, Bizfund, Rapid, CFG, Greenbox, CAN, to name a few.

Nobody pays off C-D paper funders usually.

[Kevin Henry-Seacoast]

Looking for lenders that will actually consolidate 1-3 positions to come in as a first on strong files.

Obviously, the prospect has a constant need for working capital. That being said, it would behoove you to present a revolving credit product. Another term product will likely lead them right back to searching for capital again at some point. The prospect has a constant need for working capital or is a poor shepherd of capital.....

[Jason Sterling]

We consolidate multiple positions when it will put the merchant in a better position. We strictly fund based on the credit card processing sales volume.

Submissions:
Signed application
Most recent 6 months credit card processing statements (4 months if new business being considered)
Two most recent business bank statements (MTD after 20th)
Disclose any open positions with balance letters or balance screenshots

[14Funded99]

Looking for lenders that will actually consolidate 1-3 positions to come in as a first on strong files.

none because they'll get re-stacked after lol

[taylormadefunds]

no one , any companies that have in the past all got burnt and are no longer around as the 1st,2nd,3rd position funder got paid off early and all offered new deals ...

[FINTEGIC]

no one , any companies that have in the past all got burnt and are no longer around as the 1st,2nd,3rd position funder got paid off early and all offered new deals ...

This is 100000% not true. Many many 1st position lender will pay of1,2 & a few even 3

I do this all the time, and my book is about 75% 1st and 2nd position only, and most of those deals came to me because I got their balance paid off and put them into a much much stronger deal.

[ONEFUND]

Which lenders will come in and do this from previous experiance?

[taylormadefunds]

This is 100000% not true. Many many 1st position lender will pay of1,2 & a few even 3

I do this all the time, and my book is about 75% 1st and 2nd position only, and most of those deals came to me because I got their balance paid off and put them into a much much stronger deal.

Name a bank or two you do these deals with......

[FunderFunding]

People saying yes but not giving a lender that does it smh