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09-13-2015, 08:55 PM #1
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- Jul 2015
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consolidation for less than perfect deals?
Hello all, I am new to the industry less than 1 year and I have spent a lot of time learning about the different lenders. It seems like this industry is moving more towards consolidation than anything else. My question is who besides power up specializes in consolidating multiple advances. It seems like a lot of merchants that are over leveraged currently could benefit drastically from one advance over double the time. I understand that there is the inherent risk of them stacking behind the funder, yet I am sure someone figured out something to do for these merchants. What funder will consolidate for merchants that would qualify as d-b paper? Any advice would be greatly appreciated.
Last edited by Oxforddan; 09-13-2015 at 09:38 PM.
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09-14-2015, 09:37 AM #2
Our company would look at consolidation (1-3 advances)...netting is case by case also deal needs to make sense and negative NSF's would be reviewed and would need explanations...for underwriting.
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09-14-2015, 12:55 PM #3
Hi Dan,
WBL is excellent at consolidating deals -- we don't require the merchant to net anything, and we can lend up to 3X their monthly deposit volume.
The only catch is that we require real estate as collateral.Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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09-14-2015, 02:01 PM #4
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- Sep 2015
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- 2
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09-14-2015, 02:17 PM #5Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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09-14-2015, 03:00 PM #6
- Join Date
- Jul 2014
- Posts
- 1,746
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09-14-2015, 03:32 PM #7
Let me clarify: we are not a mortgage company. We are a business lender which takes real estate as collateral.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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09-14-2015, 06:25 PM #8
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- Jul 2014
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09-17-2015, 11:34 AM #9
- Join Date
- Aug 2015
- Location
- Boulder, CO
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- 755
Oxforddan - I am a direct lender and we can consolidate MCA loans. Consolidated north of $1M last month and on track to do the same this month. Twelve month funding with monthly payments (gets the client away from daily payments, which they hate). I can typically get their payments down to about one third of what they are paying now.
All that stated...the client has to be right side up and the numbers need to work (Their business needs to be healthy with the demonstrated ability to pay the note). We forbid them from stacking on top of us for the time period they are working with us (yes, we have a way to enforce that).
They are NOT required to take any extra cash out. It is possible if they want to...but the numbers have to support it.
Funding amounts $100k - $1M. Higher amounts possible.
If clients are seriously interested in getting away from the crack of MCA loans, let's talk.
Thanks,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
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