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05-12-2015, 02:52 PM #1Senior Member
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American Express Bank doing MCA?
got statements with amex pulling a daily, when did they get in the game? what type of terms do they offer?
Anthony Diamond
Underwriter
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05-12-2015, 02:59 PM #2Veteran
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they have been doing advances for a while.. I haven't seen any where they were taking a fix daily. Might be a situation where the merchant was in collections or stopped taking amex and they had to switch to a fix daily
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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05-12-2015, 03:04 PM #3Senior Member
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they've been doing 1.06's for quite a while. I didn't know they do fixed ACH deals tho.
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05-12-2015, 03:49 PM #4Senior Member
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Amex does split deals with a fixed holdback percentage, very good pricing, and terms out to 2-3 years. If at maturity the borrower still has a balance with Amex, they holdback 100% of Amex processing until repaid. I've never seen daily ACHs from Amex. Sounds like a workout to me.
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05-12-2015, 05:27 PM #5Senior Member
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they have been doing this for at least 3 years to qualified AMEX merchants. 1.08 over 12, or 1.16 over 24.
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