[stevefis]

Looking for lenders that do 1 1/2 to 2 times Monthly Credit Card Volume MCA's
2nd position.

[ridextreme]

they all do it. Depends on the gross revenue ldo

[Michael I]

Like ride said they all do it depending on total revenue.
Is the first position a split and now you want a second position split ?

[stevefis]

First position is with ON Deck ACH Daily 18 month, Credit Card volume monthly is $60,000. After looking at this deal, Financials don't support a 2nd position loan or MCA. Thanks for the replies.

[anonymous]

If ONDK is their only position there are dozens of people on this forum who can get it funded (including myself). Certain lenders underwrite based on cash flow, disregarding the amount of outstanding debt, they may have a large outstanding balance, but their payments are low since it is spread over 18 months at a reasonable rate. So long as their banks haven't nosedived you're good to go.

[Chambo]

If ONDK is their only position there are dozens of people on this forum who can get it funded (including myself). Certain lenders underwrite based on cash flow, disregarding the amount of outstanding debt, they may have a large outstanding balance, but their payments are low since it is spread over 18 months at a reasonable rate. So long as their banks haven't nosedived you're good to go.

Of course you can get a second position, but not at 1/5 times CC avg you cannot. Not unless you want the merchant paying 30 cents of every dollar that walks in the door to Cash Advance companies. How long you think that will last?

[J.Celifarco]

Of course you can get a second position, but not at 1/5 times CC avg you cannot. Not unless you want the merchant paying 30 cents of every dollar that walks in the door to Cash Advance companies. How long you think that will last?

People need to realize funding amount has to do with what they can afford making payments of and has nothing to do with a multiple of processing or anything else

[Chambo]

People need to realize funding amount has to do with what they can afford making payments of and has nothing to do with a multiple of processing or anything else

I assume you are agreeing with me then?

[J.Celifarco]

I assume you are agreeing with me then?

might not happen often but on this we do.. lol

Gross holdback % is what needs to be looked at on these deals that is the most important factor to find out how much money you should give to someone

[anonymous]

Of course you can get a second position, but not at 1/5 times CC avg you cannot. Not unless you want the merchant paying 30 cents of every dollar that walks in the door to Cash Advance companies. How long you think that will last?

No of course not 1.5x revenue, but what the merchant is asking for is irrelevant, it's a matter of what they can be sold on.