[JHausen]

Anyone have another Term Loan source that can go out 3-5 years. I had wholesale ingredients company doing 300K a month and just payed off three advances looking to get 400K with funding circle. She was kept in the dark with their not so transparent underwriting system. Naturally my client is very upset. Her logic is she sustained heavy daily's for this long why would it be riskier to pay one lower monthly payment.

[bdshaw]

May I have your contact information.
I may be able to help.
Bob Shaw 734.929.3800

[fisheMS]

have had similar problems. i have been pre-qualifying deals way in advance before submitting to them, they tell me it looks good, forget about it for 2 weeks and then tell me its declined based on something they could've figured out in about 10 minutes...

[Miller192]

Funding Circle has been a disaster for us. They have declined deals that we were ultimately able to get bank financing for. It just hasn't been worth it for us.

[Phillip Mussa]

Fundation does 1 - 4 year terms. Not necessarily what you are looking for, but it could be an option.

[Eric K]

Anyone have another Term Loan source that can go out 3-5 years. I had wholesale ingredients company doing 300K a month and just payed off three advances looking to get 400K with funding circle. She was kept in the dark with their not so transparent underwriting system. Naturally my client is very upset. Her logic is she sustained heavy daily's for this long why would it be riskier to pay one lower monthly payment.

Call me at 917-742-4585 we do monthly payments and have very decent rates on 3-5 year terms.

[patrick.bruscia]

I have an option or 2 for you outside of FC...

My company Hudson Capital Solutions was iso of the month at Funding Circle for April and we only get half our really good paper done there. let me know if you'd like any assistance.

[bdshaw]

Your client's logic is impeccable but wrong.
All lenders ask only two questions: Has the borrower paid loans back previously and will they be able to pay them back in the future?
I would guess the client's financial statements do not indicate her cash flow is enough to pay the loan back.
Cash flow is loosely defined as net profit plus depreciation less the current portion of debt service.
You would probably do better partnering with someone who spends most of their time in that marketplace as opposed to MCA's.
The difference is knowing how to run the numbers, present them and sending the deal to a lender who has an appetite for it.
Bob Shaw
734.929.3800
rshaw@advancecredit.com

[johnnycash1]

Call me 9546991500

[johnnycash1]

Hello Patrick can you call me
9546991500

[c4get]

I may have a merchant that would qualify , is in a great credit position . It was declined by Funding Circle because he did show a small loss in 2013 / 14 taxes as he expand s. I do agree with Patrick Bruscia that Funding Circle is real deal , great firm .

[BSCI 504]

Hey Eric, what company are you with?

[tablet28]

If you and your clients have a lot of time to waste, send your deals to Funding Circle for 2-5% approvals on companies that actually show a profit on tax returns. There is a lack of Term Loan companies out there that can get profitable companies done, if you know of any please reply or PM me. Thanks