[JMedi]

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

[RickyBobby]

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

[FUNd]

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

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?

[golf2014]

lol..cust service is key...communication...

[rick_clsfunding]

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

Similar thing here - I sent them an email (curious about their product) when they first began posting on this board...never heard a word back....just crickets...

[1StopFunding]

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.

[FUNd]

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.

You're supposed to send him the names and numbers of your clients first, then you will get the ISO agreement...have you learned nothing on this forum?

[TheMagicMan]

Is there a certain amount of advances you will payoff?

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

[Zach]

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?

LOL! Maybe I should slow down a bit. I just love our product ;-)

[jotucker1983]

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

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?

[WALLFUND]

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

[jotucker1983]

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.

[WALLFUND]

They only go up to 10-12 months

[WALLFUND]

And yes they are fairly new in cash advance but they have been doing something like this for public companies for years

[evercap]

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

[JMedi]

ISO Agreement on its way buddy. Let me know if you want one too.

[Chambo]

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

any merchant with seven advances is SCREAMING AT YOU, not just telling you, that they can and will stack again

[c4get]

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?

They will say they can do but at some point they will simply go dark , its the most surreal experience i have had with a Funder , well or not a funder still have no clue

[acemary]

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[JMedi]

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.

[JMedi]

Agreed. But with that said, we look at each file individually to make a determination.

[Lexgroup]

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.