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06-26-2024, 11:58 PM #1
- Join Date
- Dec 2022
- Posts
- 1
1st Position Fintech software company
Merchant deposits $4 million a month in sales, and keeps $400-600K running balance. They sell their own software that is a payment system (perhaps better stated as payment rails) to retailers, ecommerce stores, and more. Their bank statements show edeposits froma wide array of clients, like the above. Some health and wellness stores deposit to their account, education centers, digital stores, digital libraries, boutique online stores, and even processing companies are paying them what appears to be royalties or something similar on a consistent basis. Hundreds of deposits per month per statement.
Needs a home for first position.
Tried all name brand 1st position MCAs (i.e. Kapitus, Rapid, National) and they declined due to industry. Most are declining because they are confusing the merchant as a credit card processing company or credit card processing funder (i.e. Credit card split), and won't look any further.
Here's an analogy to describe what they do. Microsoft, Inc designed a software called Microsoft Office, which has a suite of products like Word, Excel, etc. They sell it to Best Buy and Staples and Office Max. Each of those retailers pays Microsoft royalties every time the Office suite is sold off their shelves. That's what this company does. Problem is, funders are confusing the merchant for being Best Buy, not Microsoft.
Any funder willing to play ball?
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06-27-2024, 01:06 AM #2
All I see here is MCA questions presented to MCA lenders....
Where's the financials to determine a formal loan offficer type of full financial review to deterimine better options for the client. Sounds like they need some IP branding to differentiate them from the traffic to gain an advantage,,,. to propective funders with more feaible financial instuments. Forensic work.Last edited by Olderguy; 06-27-2024 at 01:08 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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06-27-2024, 04:29 AM #3
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,509
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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06-27-2024, 10:42 AM #4
- Join Date
- Nov 2023
- Posts
- 16
We can take a look at this. Max term seven months. You can submit to subs@capitalizegroup.com and mention this thread.
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06-27-2024, 01:00 PM #5
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 3,001
This part of your statement is incorrect - but, put that aside - Your client provides a Virtual Terminal-Gateway
as a monthly subscription or are they acting as a EWallet ? Just guessing at what the business model is.
Either way, with that type of revenue, (You don't mention the amount of funding requested) would they qualify for a better product
than an MCA?
Here's an analogy to describe what they do. Microsoft, Inc designed a software called Microsoft Office, which has a suite of products like Word, Excel, etc. They sell it to Best Buy and Staples and Office Max. Each of those retailers pays Microsoft royalties every time the Office suite is sold off their shelves. That's what this company does. Problem is, funders are confusing the merchant for being Best Buy, not Microsoft.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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07-01-2024, 03:30 PM #6
- Join Date
- May 2019
- Location
- Miami
- Posts
- 156
Mike
Chief Motherfunder In Charger
Foretrust Funding
Michael@foretrust-funding.com
www.foretrust-funding.com
Direct Funder
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07-02-2024, 04:22 PM #7
- Join Date
- May 2024
- Location
- New York
- Posts
- 11
Can get you a offer here
Best Regards,
Sam Roth| Managing Partner
Email: Subs@Electrafunding.com
Phone: 516-757-8601
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07-03-2024, 01:09 AM #8
- Join Date
- Oct 2022
- Posts
- 295
This is a file I would get full financials and possibly lend against assets such as MRR, Contracts, AR, &/or IP.
Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
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Yesterday, 04:13 PM #9
- Join Date
- Jun 2024
- Location
- Montvale, NJ
- Posts
- 9
(347) 699-1140
ashley@mintfunding.com
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