Results 1 to 13 of 13
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10-28-2015, 04:38 PM #1
- Join Date
- Oct 2015
- Posts
- 3
Looking for a contact at LoanMe
I have several deals I'd like to send to LoanMe.
Does anyone know if anyone could point me in the right direction?
Tried emailing them but not getting a response. And was suppose to receive a call and never did.
Anyone have any reviews about them also? They look like a great fit for what we are trying to do with some of our deals.
Thanks!
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10-28-2015, 04:52 PM #2
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
business.loans@loanme.com
I have ISOs that submit every deal to loanme along with qualifying them for other Funders. I haven't heard any complaints.
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10-28-2015, 04:52 PM #3
- Join Date
- Jun 2015
- Posts
- 3,326
great company but they take over the deal .
LoanMe, Inc.
Michael: 949-535-7137
Kristof: 949-535-7135
Email: Business.Loans@LoanMe.com
www.LoanMe.com/SBL-Partner
www.loanme.com/smallbusiness
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10-28-2015, 04:54 PM #4
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
They take over the deal if it is a "loan" qualifying business because they are licensed to do so. It isn't a bad thing. As long as you let your merchant know that you will be qualifying them for a loan product and that someone (find out who) will be contacting them to see if they qualify and proceed with the loan app process. Make sure if you want to work with them, you do it right
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10-28-2015, 04:58 PM #5
- Join Date
- Jul 2014
- Posts
- 1,746
Looking for a contact at LoanMe
Interest is ridonkulous. Payback on 50K is like a billion dollars. They pay 5 points on funded. Merchant needs to be really desperate and must payoff early to avoid paying 10x the loan amount in payback.
Certainly are a fit for some situations, but price condition the merchant before you send them the file.
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10-28-2015, 04:59 PM #6
- Join Date
- Jun 2015
- Posts
- 3,326
if you trust their ability to close . i don't trust anyone but myself and once a merchant passes its a lot harder to bring him back .
Again i do a nice amount of business with them and they are good people
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10-28-2015, 05:06 PM #7
- Join Date
- Jul 2014
- Posts
- 1,746
Looking for a contact at LoanMe
There's not much closing going on there. It's a lot of order taking and basically an approval or a decline. Pre closing the merchant is tough too because you won't know what credit bucket they will fall into until they are on the phone with the rep at Loan Me already. I find it a Hail Mary resource myself.
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10-28-2015, 05:52 PM #8
Loanme is good lender though I agree last resort type of funder or for those merchants who require monthly payments. You have no idea what type of rate to expect you can only give your merchant a range from 29-149%!, though we never have seen a 29% even for real good credit. And you have to hound them to find out what rate your merchant got. Also they only go by what the computer tells them almost robotic in UW.
Though they do close we had a lead filed with them and we moved on , they got it funded a couple of weeks later and we got paid.
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10-29-2015, 10:01 AM #9
- Join Date
- Dec 2013
- Posts
- 4,713
Cresthill Capital tries to get back to every file in hours. We are also assigning Account Manager to help from Submission to Funding hustling the underwriters to get max offers/max commissions!! (look it at like: "Your employee on our payroll") making your funding life a real breeze
* OFFERS IN 3 HOURS
* Pay Double Digit Commissions
* Deals funded with minimum stips
*Merchants receive funded wire HOURS after contracts returned to Cresthill
Signup Today
bizdev@cresthillcapital.com
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10-29-2015, 10:42 AM #10
- Join Date
- Jun 2015
- Posts
- 3,326
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10-29-2015, 06:44 PM #11
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
I actually like Loanme. I submit on the portal. THey get it done. I anticipate the hi rate and tell the merchant the loan is not meant to be taken to term. Pay it back with extra principal payments. If you pay it off in 18months to 24 the cost is significantly lower.
Only problem is their portal does not provide accurate update info.
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11-02-2015, 08:44 AM #12
Kristof.Anderson-Tsang@loanme.com
Min Choi
Managing Director
(949) 752-4638
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11-02-2015, 01:43 PM #13
- Join Date
- Nov 2014
- Posts
- 438
We sincerely apologize for being less than prompt in reaching back out. This past week was especially busy for us as half our team was in attendance at Money 20/20 and the WSAA conferences in NV. Additionally, last week being the last week of the month, most of our partners submit all their files to us in order to hit their month end numbers. With MCA companies funding in 3-10 business days LoanMe can pre-approve in minutes and fund in as little as 4 hours.
We are back and will be following up with everyone who has inquired recently. If we missed you please PM us as we will be in contact over the next few days.
Additionally if anyone has any contacts in Southern California looking for work, we are obviously in need of adding to our business/partner development team. We will be posting separately in the appropriate section of the Daily Funder this week.
Thank you for your inquiries everyone! And thank you to all our partners for an outstanding October!
-Kristof
949-535-7135LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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