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07-23-2015, 10:43 AM #1
- Join Date
- May 2015
- Location
- Long Island
- Posts
- 247
Square Offer
My client got an offer from square seems unbeatable but throwing it out there if anybody else has gone through this and figured out anyway to overcome
Square offered:
$18,000 funding
$20,250 payback
9% credit card split payback
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07-23-2015, 10:47 AM #2
- Join Date
- Jul 2015
- Posts
- 58
Square Offer
That's a hell of an offer for this industry
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07-23-2015, 04:35 PM #3
- Join Date
- Jun 2015
- Posts
- 3,326
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07-23-2015, 10:49 AM #4
- Join Date
- Jul 2015
- Posts
- 120
pm the specific details the client is looking for and I can have my underwriting take a look at it
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07-23-2015, 11:37 AM #5
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
How much do they gross, TIB, FICO?
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07-23-2015, 12:10 PM #6
- Join Date
- Dec 2014
- Location
- NYC/Florida
- Posts
- 86
Yep that sounds like Square, They have undercut me on a few deals.
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07-23-2015, 12:39 PM #7
- Join Date
- May 2015
- Location
- Long Island
- Posts
- 247
$45k/month gross that's one of 7 locations. Been in biz many years, 620 fico
Needs $60-75K and enough offers from square for each location to get there.
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07-23-2015, 05:25 PM #8
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
Not going to beat the cost but you can definitely get to a 1.20 15 month for this deal around 35-50K, daily ACH if you have a good deal with ODC or CAN. PM me if you don't.
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07-23-2015, 01:07 PM #9
- Join Date
- May 2015
- Posts
- 10
Would love to get the opportunity of putting together a exceptional loan for this business!
Please email me michael@smallbusinesscs.com
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07-23-2015, 05:42 PM #10
- Join Date
- May 2015
- Location
- Long Island
- Posts
- 247
Yeah I brought him a 1.22 it's still 10 points more. I guess this post was more about a general conversation on different trends and things happening in the industry - rather than actually thinking I would beat the rate.
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07-24-2015, 11:46 AM #11
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
AML offers a 1.12 6 month ACH, 1.18 12 month. Pretty heavy on the stips from what I remember though.
Isaiah Clark
General Merchant Funding
Hartford, CT 06103
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07-24-2015, 11:50 AM #12
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 869
that is a crazy offer.
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07-24-2015, 11:54 AM #13
- Join Date
- Jun 2014
- Posts
- 59
Unless I am missing something, this estimated to be a 5 month deal? That is 1.288 annualized factor.
Where is the unbeatable part?
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