[Zach]

A client we had up with IOU central just accepted a competing offer for 1.15 over 12 months. Who on earth is doing that?

[MCAVeteran]

There's a lot of direct sales happening today with funders and they don't have to sell buy rates plus commissions like ISOs do. Possibly that merchant went direct to a funder and utilized their inside sales.

[Miller192]

Kalamata?

[Zach]

There's a lot of direct sales happening today with funders and they don't have to sell buy rates plus commissions like ISOs do. Possibly that merchant went direct to a funder and utilized their inside sales.

That's what I was thinking too, but damn, 1.15... So low!

[mcg168]

That's what I was thinking too, but damn, 1.15... So low!

Did they have a to pay any fees after the funding? I know there are quite a few companies who advertise 1.15 - 1.16 12 months, but then after all the backend fees come out, it adds another 5+ points.

[Jared_Weitz]

A client we had up with IOU central just accepted a competing offer for 1.15 over 12 months. Who on earth is doing that?

There are like 5+ funders offering those rates these days.

[mcg168]

There are like 5+ funders offering those rates these days.

Really? at 1.15, 12 months with no additional fees? I havent come across too many merchants with those kind of rates aside from AMEX.

[omegafund]

I know a couple of advance/lenders with rates like those but the min is 250,000 and the stips are almost like a bank. And they do work with brokers
What was the deal size? And your client should let you know who he went with

[GMFunding]

Quarterspot comes to mind

[CreditGuy]

I've seen several pretty aggressive 12 month deals over the last month or so. Some from bigger funders, and some from funders that make me wonder if they know what they are doing.

[Chambo]

A client we had up with IOU central just accepted a competing offer for 1.15 over 12 months. Who on earth is doing that?

Doesn't IOU give the merchant a 1.15, but then charge a 5-10% fee on top of that as part of theri "closing costs"? Didn't Credit Cash used to pull that?

[microboby]

A client we had up with IOU central just accepted a competing offer for 1.15 over 12 months. Who on earth is doing that?

CAN is doing those on their direct sales.

I lost a deal to them with the following figures : $100,000 Loan , $105,000 Repay on 12 Months . I have a copy of the docs , merchant sent them to me when he got funded

[MCAVeteran]

By that math that's a 1.05/12. Did you mean $100k with a $115k payback on 12 months? Was it on their web bank loan program?

[microboby]

By that math that's a 1.05/12. Did you mean $100k with a $115k payback on 12 months? Was it on their web bank loan program?

No Sir there is no Typo . My figures are correct.

[Zach]

10% APR... Jeez! That's good money!

[Paperchaser]

10% APR... Jeez! That's good money!

no thats 5% apr

[CO1]

Direct Capital. .

[Zach]

It's closer to 10% APR. If there were no payments, it would be 5% APR.

[Paperchaser]

It's closer to 10% APR. If there were no payments, it would be 5% APR.

u mean closing costs?

[evercap]

saw 1.13 over 12 the other day

[Sean Cash]

What about dealstruck? Aren't they doing these low rate 12+ month deals too?

[jotucker1983]

Yes, there are companies doing this but the deal has to be give or take "bank clean" in order get approval at that amount, and those terms. It's also usually for larger clients as well.

[tommy]

No B.S

Forget IOU Ondeck CAN and all the others that say one thing and do another.

Quarterspot is doing big things.

You want exotic pricing ? We did a second pos max offer with them over 12 months at 1.24 including com

Just got a first over 12 months at 1.16 including com

And the best thing is if the merchant wants better than this, they have a pre pay addendum available. Pay early and payback less

I have closed same day with them. Limited stips. No games. They get paid to close deals just like us.

Christina your rocking.

Kevin, Chip keep it up.

[Zach]

u mean closing costs?

Borrowing 100K and paying back 105K over 12 months with daily payments is around 9-10% APR.

Borrowing 100K and paying back 105K over 12 months with NO payments (balloon pmt at end) is 5% APR.

[MikeGreen-Quarterspot]

Thank you very much Tommy. QuarterSpot is working hard to drive down the cost of capital with fast and smart underwriting.
Thanks to a growing number of strong ISOs we are making progress on this goal.

If anyone would like to join our program please send me an email. partners@quarterspot.com

Thanks again Tommy.
Mike
917-924-2202