[Quickfunder]

Who can do it?

Recommendations on direct lenders only please. I don't co-broker.

[FCF Fund]

Who can do it?

Recommendations on direct lenders only please. I don't co-broker.

Is it a owner/ operator entity or do they have a fleet with multiple drivers?

[LoanMe]

LoanMe is a direct lender (100% funded in house) and can take a look at this. Because we offer a MONTHLY repayment/ unsecured term loan, we don't look at the number of deposits per month like a daily repayment funder does. Our minimum number of deposits is (1). We also work with businesses as young as 2 months. They must have a business bank account open and active for at least 60 days. Please contact us for more information.

[MaxAdvance]

I'd like to take a look at this deal as Max Advance does Logistics, please reach me on my direct line so we can further discuss

[VFG]

If you're open to factoring we can find this one all day long.

[John Galt]

if you're open to factoring we can find this one all day long.

but will you fund it after you find it?

[VFG]

My apologies John. Meant to type Fund it, instead of find.

[John Galt]

Was a joke, but I do a lot of factoring, mostly for staffing companies. Are you direct or a broker? Can you compete against Crestmark, Agr and Capital?

[bdshaw]

We are factor/Lenders. This soynds like a deal we could put an offer together within 24 hours receipt of the information. We not o ly compete but pay higher commissions.
Bob Shaw
rshaw@millenniumfundi gusa.com
rshaw@advancecredit.com
734-929-3800

[Milton_Bostock]

Bob,

I appreciate your experience and knowledge and your contributions to this forum.

However, why is it soo difficult to nail down what a Factor actually charges for money?

1% for 10 days?, other fees, hold backs etc...

I've talked to soo many guys that hate Factors for the games they play and have calculated their total cost of funds in the mid teens at the end of the day.

Why is it that I can never get a straight or honest answer ?

[bdshaw]

Milton, I think the reason may be the industry uses a discount rate much in the way the MCA industry uses a monthly interest rate. I would quote a 2% discount rate for 30 day and, unless explained by the salesperson the client could very well be left with the impression they are getting a 24% annual rate. If you wish to convert that to an APR just divide by the advance rate. If the advance were the typical 80% you would divide 2.0 by .8 and get 2.5% monthly or 30% annually.
As to other fees almost all charge for wires or ach's, however some will quote a lower discount rate and add fees to get their desired yield.
Hopefully many of you will refer factoring deals through us but you dont have to in order to ask me any questions that I may know the answer.
Milton, anyone, please give me a call or your contact information so I may introduce myself.
We at Millennium are working to put a few factoring webinars for the sales person on the web.
All suggestions are welcome, actually desired.
Bob

[VFG]

John,

I am a direct lender and can factor pretty much most industries, except medical and construction. We provide international factoring, PO finance and Supply Chain Finance.

This is a typical factoring deal where we would advance 95-97% non-recourse with no monthly mins or contract length and charge a flat 2-3% flat for 60 days.

Let me know if you have any questions.

[KM_Superior]

Superior can get this done. Transportation is one of our hotspots and we only require 6 mo's in biz.

[Michael Jagiello BGF]

Shoot me an email and lets see what we could get done!