Additional lines of business to compliment loan brokering?
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  1. #1
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    What have you been doing until now? Just term loans? You put "loan brokering" so were you not doing MCAs, considering we all know that they're not loans ;-) We used to all add in Bluevine and Fundbox, but they cut out (almost all) brokers on new deals. I feel that factoring is a really good solution to have access to. It's the in-betweens like factoring and other non-bank lenders who can move quicker than banks but aren't with the MCA rates that really separates the good brokers from the average ones.

    Send me an email, I'd like to introduce you to one or two of them.

  2. #2
    Quote Originally Posted by abfunders View Post
    What have you been doing until now? Just term loans? You put "loan brokering" so were you not doing MCAs, considering we all know that they're not loans ;-) We used to all add in Bluevine and Fundbox, but they cut out (almost all) brokers on new deals. I feel that factoring is a really good solution to have access to. It's the in-betweens like factoring and other non-bank lenders who can move quicker than banks but aren't with the MCA rates that really separates the good brokers from the average ones.

    Send me an email, I'd like to introduce you to one or two of them.
    LOL, true, I didn't run down the list of loan-adjacent products like MCAs, factoring, contract advances, etc. To clarify - I was referring to products/services beyond loans/lines/advances. For example, merchant services - if you're already reviewing bank statements, it's not that hard to have a side conversation about who they're processing with and if they're up for a review. But you could use any number of services - you have 15 employees, who's handling your payroll? There's a lot of additional services that businesses use or would need that would be easily cross-sellable... was curious if anyone here was actually doing that.

    Re: recommendations for additional lenders/factoring companies/etc., always open to suggestions.

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