[Chambo]

it was one of those situations where a funder said they were willing to take a look at deals we couldn't get done elsewhere. Some reps heard that and forwarded all of the deals that had gotten declined in the last 2 months to them without using any discretion. Ultimately I think those particular reps were asked not to send any more there, but others could.

Sean is being polite! Jared told folks to send all the declines there

[J.Celifarco]

TBB???? Who is that/

Honestly the list of companies that are not doing construction is shorter then the list of companies that are.. Maybe I am wrong but lately I have seen any Bank offering a bank only loan product is willing to look at construction deals

[J.Celifarco]

Sean it all started with one of my deals they were willing to let the merchant net like 30% of the funded amount, it got around the office next thing we new there were over 100 submissions

[Sean Cash]

a merchant netting 30% on an advance is news that spreads like wildfire

[Chambo]

Customers now only need to net 40% when we pay off a competitor!
RapidAdvance has made it easier for you to fund your clients with more capital. We have lowered the net amount a customer has to receive when paying off a competitor to 40%! This gives you the ability to get capital to merchants vs. waiting for them to qualify for a renewal, earning more in new deal commissions.

This new lower net combined with our increased funding max of $300,000 makes it easier for you to get your customers the capital they deserve.

[mfs01]

MFS Global, Inc. does Construction Companies.
Contact us at isosupport@mfsglobal.com or 702-473-1145

[skideeppow]

OK, So who has contact info on TBB?

Thanks

[Chambo]

OK, So who has contact info on TBB?

Thanks

513-746-2000. ask for Dave P. Tell em Chambo sent ya

[CO1]

Untitled.jpg Here you go Skideepow!

[mfs01]

MFS Global, Inc does Consturction companies. No CC transactions required. Bank only!

isosupport@mfsglobal.com

[mfs01]

MFS Global, Inc. will aprove construction companies.
No CC transactions required. BANK ONLY is ok.
We have an ACH program that these types of merchants can qualify for.

Contact us at isosupport@mfsglobal.com for details.

[Strategic+PLUS]

Strategic PLUS, a division of Strategic Funding Source. I have been handling A LOT of construction/contractor deals recently. For any inquiries, please contact me at bcasamassa@sfscapital.com and I would be happy to help. Thanks!

Brandon Casamassa

Regional Sales Manager of Strategic PLUS, a division of Strategic Funding Source
1501 Broadway, Suite 1515, New York, NY 10036
Office: 212-354-1400
Direct: 646-722-1514
Cell: 516-476-2042

bcasamassa@sfscapital.com

[mfs01]

Who is doing construction besides Rapid, GRP.
No CC just bank

MFS Global does them all day
702-473-1145

[isaacdstern]

YSC loves Construction deals...Call Andrew McDonald @ 347-464-0785 or Amcdonald@yellowstonecap.com

[Zach]

Alliance funding group is funding construction. Typically 8-10 month terms.

Zramirez@alliancefunds.com
714-450-1275

[Andy]

I got a good file but owner is real picky about term. who is doing construction/general contractor that ALSO has terms from 12-18 months for premium file? Excellent credit, long time in biz, 20k+ daily balance, 40-60k monthly gross, 4-8 deposits monthly, no cc sales, no existing balance.

[jbrown]

We tested construction extensively over a 2 year period. It's a pretty bad SIC. There are some good deals but in general the issues contractors have with how they get paid and how choppy their cash flow can be, and dependent on when owners or general contractors want to release their payments, don't make them good candidates for our type of lending. We have gotten more restrictive on what we will consider. Good luck to those that want to lend in this space.

[HeatherF]

How Merchant Cash handles construction (especially who do not have steady cash deposits/or vendor pay) we start them under a beta program to evaluate how they handle daily debits to their account while not having replenishing deposits steadily. If they handle it we then go ahead and release the remainder of their funds to them. This practice has allowed us to continue servicing that risky industry type.

[jbrown]

Heather, what is your minimum/maximum on construction deals?

[HeatherF]

We require at least 15K in gross sales / 150K in max sales ... funding side we do 2K to 50K

[jbrown]

Sean, every good magazine needs a gossip column. I look forward to hearing all about it!

[Sean Cash]

haha yes, there will be something to that effect. It will be the Cosmo of the alternative lending world.

[CO1]

Lmfao the Cosmo of alternative lending!

[isaacdstern]

Agree with Jeremy big time!! There is no shortage of gossip in the MCA world

[Sean Cash]

they're free man and yes there is already one addressed to you.