[Chambo]

1) longer terms
2) all SIC codes
3) weekly/monthly payment options
4) when you say you do declines, MEAN IT

IMHO, this is a good start

[FCF Fund]

1) longer terms
2) all SIC codes
3) weekly/monthly payment options
4) when you say you do declines, MEAN IT

IMHO, this is a good start

I second these points, in addition consolidating a merchant to lower cost financing would be an idea.

[anonymous]

I second these points, in addition consolidating a merchant to lower cost financing would be an idea.

Should call it Default Capital

[MCS Info]

"Should call it Default Capital"
LOL. Probably. The major problem of stretching deals out to longer terms? The multitude of stackers not filing UCC's but requesting COJ's to jump the line on the first position funder on the way to a judgment. The first, with a no-stack agreement, potentially can negate the COJ by suing the borrower and invalidating the claim. If I came out with a long, unlimited SIC code Product, how could I be assured that no stacking would be really in effect?

[J.Celifarco]

"Should call it Default Capital"
LOL. Probably. The major problem of stretching deals out to longer terms? The multitude of stackers not filing UCC's but requesting COJ's to jump the line on the first position funder on the way to a judgment. The first, with a no-stack agreement, potentially can negate the COJ by suing the borrower and invalidating the claim. If I came out with a long, unlimited SIC code Product, how could I be assured that no stacking would be really in effect?

HOW DO YOU STOP STACKING????? That is the question every lender wants an answer to.

[anonymous]

You want a new product with some value - come in between IOU/QS and those like Knight with regard to strong seconds. 1 year term seconds for qualified clients with strong financials, who happened to have 6 negative days over the past 3 months or fall just outside the IOU/QS UW criteria. Or take a look at the PFS debt refinancing program (interesting from an investment standpoint as you never really go out on the limb too far with these merchants). Or do 6 month 3rds in the mid 1.30's coming in behind an 18-24 month first and a 1 year second.

Provide a reasonable product with a reduced broker commission. Those who want to last in this business will flood you with clients while the others are still pitching a 1.49 over 3 months going for a 14 point rip.

You don't stop stacking, its inevitable. I can't tell you how many business I've quite literally saved from BK w/ consolidations who ended up doing the same thing all over again and are no longer in business.

[J.Celifarco]

You want a new product with some value - come in between IOU/QS and those like Knight with regard to strong seconds. 1 year term seconds for qualified clients with strong financials, who happened to have 6 negative days over the past 3 months or fall just outside the IOU/QS UW criteria. Or take a look at the PFS debt refinancing program (interesting from an investment standpoint as you never really go out on the limb too far with these merchants). Or do 6 month 3rds in the mid 1.30's coming in behind an 18-24 month first and a 1 year second.

Provide a reasonable product with a reduced broker commission. Those who want to last in this business will flood you with clients while the others are still pitching a 1.49 over 3 months going for a 14 point rip.

You don't stop stacking, its inevitable. I can't tell you how many business I've quite literally saved from BK w/ consolidations who ended up doing the same thing all over again and are no longer in business.

6 month 3rd positions the company will be out of business before they ever get going. Why anyone would want to add additional stacking products to the industry is beyond me.. Everyday you have more companies getting sued for stacking, the industry is going to go away from stacking not further into it

[J.Celifarco]

1) longer terms
2) all SIC codes
3) weekly/monthly payment options
4) when you say you do declines, MEAN IT

IMHO, this is a good start

I agree with #4 everyone has the banks they do the majority of their deals with but when people say they do declines most of the times they just mean they want to do deals for no longer then 2-4 months but not actual low quality files. (sub 500 credit, less then great banks, and the really tough sic codes)