[Fundyman]

OK. The 12 pts is the least of my worries, because even if I got a company to give me 18 pts, if he doesn't take the deal, it's 18 pts on zero sale. I've spoken to someone who said it's more realistic he'll get weekly or bi-weekly ACH, which is still much better than daily.

The main concern here is that he needs at least time to generate revenue prior to paying the advance back. This isn't the 1st time I get that complaint from construction-related industries. I remember I had a roofing guy I got $260K for, who complained he would never do a cash advance again! And he hasn't since! "It's like you're repaying the money before you get to use it!", he said.

This guy said the same thing. If he could get some type of deferment to repay, giving him time to collect on his receivables or at least to complete a few more jobs before his 1st payment, that would make sense. Now, I explained to him that's not at all likely but I would look for a company that would at least spread his payments out to 12 months and no less.

I think in the MCA space it's someone out there doing such terms at least on weekly ACH! Am I losing it, or asking for something that's unreasonable? After all, why put the guy at risk of default by giving him daily ACH on a 4-month term, when he can clearly repay comfortably on a 12-18month term??

[anonymous]

I remember I had a roofing guy I got $260K for, who complained he would never do a cash advance again! And he hasn't since! "It's like you're repaying the money before you get to use it!", he said.

...as he was likely signing paperwork elsewhere for a 1.45 over 3 months lol. Buyers are liars.

[Fundyman]

"Quote Originally Posted by Fundyman View Post

I remember I had a roofing guy I got $260K for, who complained he would never do a cash advance again! And he hasn't since! "It's like you're repaying the money before you get to use it!", he said."

Anonymous:"...as he was likely signing paperwork elsewhere for a 1.45 over 3 months lol. Buyers are liars."

Nah. That one got a loan w/ Kabbage a few months later. I doubt he'll ever take a cash advance again outside of having an emergency. But if all I had for him at the time was a cash advance, he would have taken it but very reluctantly.