Results 1 to 22 of 22
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08-24-2015, 11:57 AM #1
- Join Date
- Aug 2015
- Posts
- 5
PowerUP Lending Group- Consolidation
If anyone has merchants that are looking to consolidate, PowerUP is the first place you should be going. Our average funding amount is roughly $150,000, and we do not require that the merchant nets any money. With that being said, we offer very favorable terms on first positions, and second positions as well. You can reach me directly with any questions, ISO agreement requests, or deals that need reviewing. My Contact information is located below.
Best Regards,
Jonathan Medi
PowerUP Lending Group, Ltd.
(516)498-9890
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09-03-2015, 06:17 PM #2
- Join Date
- Jan 2015
- Posts
- 3
Tried working with you guys in the past, when i heard great things about you. Never received any approvals/denials or response, and when i called to find out what was happening you werent very friendly at all. Thank but no thanks
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09-03-2015, 07:30 PM #3
- Join Date
- Jul 2014
- Posts
- 1,746
How do you guys do consolidations with no net proceeds to the merchant while the rest of the industry, including the power players, do not? I know that WBL will do it, with collateral, (thanks to you Zach, that is tattooed on the inside of my eyelids), but what's the secret sauce there Jonathan? In other words, what's the catch?
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09-04-2015, 12:50 AM #4
- Join Date
- Apr 2014
- Posts
- 781
lol..cust service is key...communication...
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09-04-2015, 08:07 AM #5
- Join Date
- May 2015
- Location
- NC
- Posts
- 208
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09-04-2015, 08:21 AM #6
PowerUP Lending Group- Consolidation
I had a great conversation with John a week or so ago. I never received the ISO agreement he said he would send. I followed up with email, no response.
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09-04-2015, 09:28 AM #7
- Join Date
- Jul 2014
- Posts
- 1,746
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09-04-2015, 02:39 PM #8
- Join Date
- Sep 2015
- Posts
- 1
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09-04-2015, 03:05 PM #9Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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09-04-2015, 04:51 PM #10jotucker1983Guest
Jon,
My question is the same as FUND's question, how can you do the pay-offs without a required amount that the merchant will "net" at funding?
So let's say I have a guy with 3 stacks with balances that total $60,000. His gross sales volume is $1 million a year, which means give or take I can only do a full approval for let's say $75k. Because he would only net $15k in this situation, I would have to put the client on hold for a couple of months until he pays the balances down.
Are you saying you would provide the full $75k to him even though he only nets $15k?
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09-04-2015, 05:40 PM #11
- Join Date
- Feb 2015
- Posts
- 49
PowerUP Lending Group- Consolidation
Jotucker ,
That's exactly what he's saying in fact what he's truly saying is if the merchant gets approved for 75k and has balances of 75k they will just payoff the stacks and the merchant would net $0 ,,,, I did a deal with them where the contract was for $250k and the merchant netted $296.50 crazy as it seems but they did the deal
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09-04-2015, 06:31 PM #12jotucker1983Guest
WallFund,
Well, I will reach out to them to see what their program looks like. They are relatively new, is that correct? Their SOS information only dates back to March or April of this year, and their website was created in late January. But nevertheless, if they are doing real consolidations I would like to take a look at it.
If they are going to take a merchant with 3 stacks for example, with average payback duration of 6 months (which means the 3 stacks are killing his cashflow), and do a true consolidation by paying off those 3 stacks and putting him at maybe a 18 month term or 24 month term to reduce his payments, then that works. That's a true consolidation.
I've just never seen anybody do this without requiring about a 50% "net" receipt of funds at pay-out, which leaves a lot of merchants stuck in these situations until they pay their balances down.
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09-06-2015, 01:17 PM #13
- Join Date
- Feb 2015
- Posts
- 49
PowerUP Lending Group- Consolidation
They only go up to 10-12 months
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09-06-2015, 01:18 PM #14
- Join Date
- Feb 2015
- Posts
- 49
PowerUP Lending Group- Consolidation
And yes they are fairly new in cash advance but they have been doing something like this for public companies for years
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09-07-2015, 11:34 AM #15
PowerUP Lending Group- Consolidation
Had a new iso send a merchant file over the other day....Powerup paid off 7 advances of 200k+ and they netted 2k....Really peaked my interest and seemed like a great deal (consolidation)for merchant to put them in a better structure for cash flow.... but come to find out they stacked 4 more times after power up!!! crazy
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09-09-2015, 11:11 AM #16
- Join Date
- Aug 2015
- Posts
- 5
ISO Agreement on its way buddy. Let me know if you want one too.
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09-09-2015, 06:15 PM #17
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09-24-2015, 11:51 AM #18
- Join Date
- Dec 2014
- Posts
- 39
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10-09-2015, 05:40 AM #19
- Join Date
- Oct 2015
- Posts
- 1
PowerUp Lending Group is a direct lender that has been providing funds to... ... 19 hrs ·. PowerUp Lending Group: Fast and Easy Business Loans http://goo.gl/TO8FCc · PowerUp ..... Learn about consolidating business debt. Get a new .....
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11-04-2015, 12:46 PM #20
- Join Date
- Aug 2015
- Posts
- 5
John,
Even if we were to consolidate, the merchant's current advances, and the merchant didn't net a penny, we would be able to do the deal. If you have any clients in mind, I would love to show you what we can offer. Look forward to hearing from you.
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11-04-2015, 12:47 PM #21
- Join Date
- Aug 2015
- Posts
- 5
Agreed. But with that said, we look at each file individually to make a determination.
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11-04-2015, 02:14 PM #22
- Join Date
- Jun 2015
- Location
- New York
- Posts
- 68
Consolidation seems like a great idea in theory but 9 times out of 10 merchants who consolidate their balances end up in the same situation again. History tends to repeat itself.
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