LoanMe, OK! Who Else with no Min. FICO Requirement?
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  1. #1
    Senior Member Reputation points: 20465 Fundyman's Avatar
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    LoanMe, OK! Who Else with no Min. FICO Requirement?

    I've seen LoanMe offer a client of mine a loan at 119% APR. I was truly impressed because the option remained there for no prepay. I just wondered besides them who else will make that happen for a merchant on a monthly payment? Kabbage has a min. FICO requirement.

    (Other companies just seem to be hyper-broker companies that take youf deal where they know it can get funded w/ monthly payments, then turn around & pay you 1-3 pts on it).

  2. #2

    LoanMe, OK! Who Else with no Min. FICO Requirement?

    we will look at the file. and you will make more than 1-3 points on any deal we get funded.
    paulc@pccapitalfunds.com

  3. #3
    Senior Member Reputation points: 20465 Fundyman's Avatar
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    Quote Originally Posted by PC Capital LLc View Post
    we will look at the file. and you will make more than 1-3 points on any deal we get funded.
    paulc@pccapitalfunds.com
    That sounds great, Paul, but will you provide the client with monthly payments and a longer term than MCA?

  4. #4
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    What kind of business profile are the clients? True monthly payment deals direct with the lender only pay out 1-4 points, those being for the well qualified.

  5. #5
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    Quote Originally Posted by GMFunding View Post
    What kind of business profile are the clients? True monthly payment deals direct with the lender only pay out 1-4 points, those being for the well qualified.
    Hospitality industry. I run into construction as well. They don't need daily ACH debit. They need lower rate monthly payments.

  6. #6
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    Fundation & Funding Circle for Hospitality (low points) Metrix for Construction
    Isaiah Clark
    General Merchant Funding
    Hartford, CT 06103

  7. #7
    Senior Member Reputation points: 20465 Fundyman's Avatar
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    Okay. Thanks. I know those guys.

  8. #8
    718-408-8999 ext 1008

  9. #9
    Quote Originally Posted by Fundyman View Post
    Hospitality industry. I run into construction as well. They don't need daily ACH debit. They need lower rate monthly payments.
    LoanMe pays out 5 points on the Net Funded Amount on new Partner-Referred Deals. Our Minimum Qualifications and Required Docs are much easier and lenient than most monthly-repayment competitors.
    LoanMe Business
    949-535-7798
    Email: Business.Loans@LoanMe.com




    www.loanme.com/SBL-partner
    1900 S State College Blvd. Suite 300
    Anaheim, CA 92806

  10. #10
    There are a few no min fico loan types here with sample terms and rates

    http://michaellewisgroup.com/commerc...oan-forms.html

  11. #11
    Member Reputation points: 10 pmoney's Avatar
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    Quote Originally Posted by Fundyman View Post
    I've seen LoanMe offer a client of mine a loan at 119% APR. I was truly impressed because the option remained there for no prepay. I just wondered besides them who else will make that happen for a merchant on a monthly payment? Kabbage has a min. FICO requirement.

    (Other companies just seem to be hyper-broker companies that take youf deal where they know it can get funded w/ monthly payments, then turn around & pay you 1-3 pts on it).

    As far as qualifications go, I would just need 6 months bank statements and a collateral asset worksheet reflecting all real estate owned by the borrower in addition to our 1 page application. Loan amounts are typically 2x-3x the amount of the averaged gross deposits and we can fund in 3-7 business days. Just something to consider for future deals. If you'd like to learn more about or products please contact me directly 201-210-8552 or paul@oracleloans.com
    Last edited by pmoney; 02-08-2016 at 11:08 AM.
    Paul Marzolla
    CEO @ GreenBridge Loans

    ______________________________________________

    Main: (800) 677-5771
    Email: paul@greenbridgeloans.com

    Connect with me on LinkedIn

    Click to download our Partner Agreement
    ______________________________________________

    GreenBridge Loans
    221 River St, 9th Fl
    Hoboken, NJ 07030
    www.greenbridgeloans.com

  12. #12
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    Breakout Capital is a direct lender with no minimum FICO, and aggressive on pricing. Our payout structure is 5% on both initial deal and renewals -- we understand that commission rate is below market, but our pricing is extremely competitive and a great option if pricing and payment flexibility is a pressure point. We offer both loans and advances. Our advance structure is summarized below, and loans we can be more aggressive on. We will fund as low as $2.5K up to $100k. We do daily, weekly, and monthly payments (bulk are weekly). 3 to 12 month deals. We also offer early payoff options on every advance and loan -- not just no-prepayment penalty, but the ability to get out of the loan or advance by just repaying the remaining principal/funded amount. We are a first position funder only -- if there are other funder(s), will take them out with no minimum requirement on amount actually received by the business. Check us out at www.breakoutfinance.com.

    Standard products:
    6 Months
    - As Low As 1.08x
    - Average 1.23x
    9 Months
    - As Low As 1.12x
    - Average 1.25x
    12 Months
    - As Low As 1.15x
    - Average 1.28x

    Contact me or our sales team to learn more -- 703-852-6010 or carl@breakoutfinance.com. My full contact information is below.

    Carl R. Fairbank
    Chief Executive Officer
    Breakout Capital Finance, LLC
    6849 Old Dominion Drive, Suite 360, McLean, VA 22101
    O: 703 852 6008 I Toll Free: 888 318 3534
    carl@breakoutfinance.com I www.breakoutfinance.com
    Last edited by Cfairbank; 11-13-2015 at 11:04 PM. Reason: added point (early payoff options)

  13. #13
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    Please send ISO agreement

  14. #14
    Senior Member Reputation points: 5023
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    Please send ISO agreement to me.

  15. #15
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    will do. Please DM me your email address.

    Carl R. Fairbank
    Chief Executive Officer
    Breakout Capital Finance, LLC
    6849 Old Dominion Drive, Suite 360, McLean, VA 22101
    O: 703 852 6008 I Toll Free: 888 318 3534
    carl@breakoutfinance.com I www.breakoutfinance.com

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