[thefunder]

I am in the process of funding a merchant $100,000. Until today when he tells me he is getting a $100k from QUARTERSPOT at a 1.14 over 12 months. Is this possible?

[jotucker1983]

Well, anything is possible but is the merchant sure that's his factor rate or is that potentially his holdback percentage? A lot of merchants get the two confused. Also, are there additional fees tacked into the payback?

[getlikwid247]

It is possible but what the merchant doesn't know is that quarterspot pays their brokers/ISO's by taking it out of the funded amount as a "third party fee" rather than adding it to the payback like most lenders do. So for example let's say whoever is bringing that deal to him is making 7pts they will take 7,000 off the funded amounts So the amount will be 93,00 and actually even a little less because they have some of their own small fees. So in reality it would be 93,000 to payback 114,000 which is closer to a 1.225 factor rate. Then also who knows if the ISO is putting a fee on also....OR the merchant could be dealing with Quarterspot directly then who knows what he got but as far as dealing with an ISO selling a quarterspot deal that is how it works

[tommy]

I'm not a poster and I don't give too many funders props in this industry but I feel it's right to give credit when're it's do so I felt it would be right to address the question.


Quarterspot does have insane pricing when the file deserves it. So yes a 1.14 is possible. I have seen pricing like that on a few deals. I have also seen 2nd pos offers that are priced better than a 1st he may have. And they fund quick and stips are 3 basic requests.

The difference about quarter and other funders is the transparency. They took a different approach than other funders and the commission and platform are out in the open. You should be able to use this to your advantage. Bring it to the merchants attention and explain to him the breakdown of the funded amount. Explain that you get paid and the platform gets paid. Also enlighten him that nothing is a mystery. Nothing is behind the curtain. And this is what separates you from all the others. Would they rather know what your making than not know?

Another huge selling point is that the quarterspot product works different as to other Advances. Everyday the bal is recalculated after a payment is made. If a merchant wanted to payoff the advance three weeks in he will have a different payoff amount than what was originally stated because the advance didn't go full length. This means his factor will be even lower than he signed for. If merchant has big cash flow coming down the road and he wants to pay them off it's to his benefit and the cost of funds will be even cheaper. They will provide a scale that shows the months and the lower payback amounts. It will motivate the merchant to see how much he could save. Words mean ****. Show it in black and white. Let him motivate himself to pay early.

Also know that they don't file a UCC and this is a huge benefit for anyone that works with factoring companies.

One thing I can say is that they are not growing too fast no too slow. They are growing at a great pace and looking for feedback to bring a better product. On deck and IOU and CAN have great pricing but it's not a walk in the park to get a file to fit there box. I have got more files closed with quarterspot than I have got offers from the other three.

Not to mention any specific one but I have submitted to some funders and was told we don't do that sic code and got a decline, meanwhile I see a statement that there in and it's for that six code. Put non sense.

Quarterspot dosnt have an an inside sales force that calls all the deals they decline from ISO's. So to me they are not competition. They are a solid Funder that will even speak to the merchant. I have had conference calls with the merchant and the CFO of quarter to close the deal.

Try to get that done with ON DECK


Enjoy the weekend.

[WhoisKingsley]

Tommy is right... I think people really under estimate them. If you take the time out to call and listen to how their programs work you will understand how it's different and better than many advance programs. Simple- transparent- and quick! I'm not trying to be a cheer leader but I like to let others know about good companies to trust.

[MCA UW]

I can't say I've come across a competitive deal like this from Quarterspot, but I have seen some other guys put out 15+ month deals on a 1.12 - 1.18 FR with no fees tacked on, so nothing surprises me anymore.