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05-23-2024, 10:56 AM #9
- Join Date
- Jul 2020
- Location
- Connecticut
- Posts
- 2
Industry terms
Unfortunately, most of the top tier lenders in the industry are putting out offers on the higher end of their rate threshold due to the current economic climate. Rates are high across the board and those higher rates are passed down to lenders from their credit facilities. I see a lot of A paper lenders come back with sell rates close to 1.50 for their 18 month product. Anyone who has been in this industry for any amount of time knows that if a business is in a cash flow pinch that it will be much more beneficial for them to pay a higher rate (closer to 1.50) for an 18 month program as opposed to anything in the 1.30 - 1.40 range that would most certainly cap out at 12 months. The lower payment is what will ultimately help this client the most.
It does seem like you have had a few declines for this merchant at other shops. I would like to say that we may be able to come in at a lower rate for an 18 month cost, but I would certainly need more information. Also, how many points are built into that 1.54 offer?
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