[Triton]

Who besides the 2 majors in the alternative lending space (FC and Funda...) do term loans?

[snk1lp]

Dealstruck. I believe they look at merchants starting at 600 credit and 15k monthly revenue.

[rick_clsfunding]

LoanMe

[dpFund]

Triton - I am a direct lender and fund 12-24 month terms, with monthly payments. We have a unique funding model, bit of a cross between a factor and a term loan. Like a Factor, I have a discount rate, but like a term loan, we have a monthly payment (or weekly, client choice, the numbers are the same either way).

$50k minimum, $2M max.

I've funded a number of deals for folks here at Daily Funder ($1.5M last week alone).

Let me know if you would like to discuss.

Best,

Dan Page
dan@fundingstrategypartners.com

[IKorie]

LoanMe is real good with term loans

[Triton]

Triton - I am a direct lender and fund 12-24 month terms, with monthly payments. We have a unique funding model, bit of a cross between a factor and a term loan. Like a Factor, I have a discount rate, but like a term loan, we have a monthly payment (or weekly, client choice, the numbers are the same either way).

$50k minimum, $2M max.

I've funded a number of deals for folks here at Daily Funder ($1.5M last week alone).

Let me know if you would like to discuss.

Best,

Dan Page
dan@fundingstrategypartners.com

How long does it take you to close a deal from application to funding and do you take over the file? Meaning, do you contact the merchant directly and work the deal or do you just do the behind the scenes work and I close it?

[BigIz]

I believe Metrix does term loans. DealStruck only pays 2%

[BigIz]

Triton - I am a direct lender and fund 12-24 month terms, with monthly payments. We have a unique funding model, bit of a cross between a factor and a term loan. Like a Factor, I have a discount rate, but like a term loan, we have a monthly payment (or weekly, client choice, the numbers are the same either way).

$50k minimum, $2M max.

I've funded a number of deals for folks here at Daily Funder ($1.5M last week alone).

Let me know if you would like to discuss.

Best,

Dan Page
dan@fundingstrategypartners.com

What are your merchant minimum requirements? How much of the yearly do you fund to the merchant (average)? What is your commmision. Please PM me. Thanks

[dpFund]

How long does it take you to close a deal from application to funding and do you take over the file? Meaning, do you contact the merchant directly and work the deal or do you just do the behind the scenes work and I close it?

Hi Triton,

If you are looking for a "send me your bank statements and I will send you money" lender, I am not your guy. :-)

Much of the process depends upon the client and their responsiveness. That stated, I can provide you with quick feedback with the following docs:

2014 and 2015 YTD P&L and Balance Sheet (not tax returns, please)
Debt Schedule (if the client has debts)
Six months banks
Brief overview (a couple paragraphs is fine) of the client's business and why he is seeking funding
Credit report (if you have it)

I can typically give you feedback within 24 hours as to whether it might be a fit for my funding model. If so, we set up a phone interview with the client. If all looks good from that meeting, I set up a client meeting with my underwriter. If all looks good coming out of that meeting, we send off a proposal to the client (usually within 48 hours). This proposal has all the additional DD docs we will need. Once we receive all these docs back, we get to work on the file. On average, funding is within 10 days of receiving these docs, unless something jumps out at us.

In regard to your last question, I always welcome the involvement of the referring party, since I think it helps to close the deal. I work the deal directly (as the lender) and once it gets to underwriting it is definitely between them and the client. But we still encourage the participation of the referring party to help close it, since stuff almost always comes up that needs to be addressed and quite often clients are slow to respond.

Hope that helps.

Best,

Dan Page
dan@fundingstrategypartners.com

[RichardGerard]

There are several Term Loan sources available other than the three mentioned here. It's important to understand what you're sending and what the respective lenders look for. We often see Financials that are so convoluted that there is no way a lender will approve the client unless the data is corrected. This particular space (2-10 year term loans) is not just about the lender's name, it's the nuances associated with the respective lender's underwriting criteria, and their desire to work with certain types of clients. That's the difference between submitting a file and hoping it funds and submitting a file that you know will fund.

[bdshaw]

Triton, Richard is absolutly correct. Let me add that if you gave a more thorough deal description some of might propose a product that is not plain vanilla.