Results 1 to 25 of 45
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12-14-2015, 06:11 PM #1
Who's doing consolidations?
besides power up? who doesn't really do them anymore
and fusion? who will only consolidate up to 50k.
heard nulook does them, what are their terms?
heard of a company signature fund that does them? anyone have a contact there and any info?
any other solid companies that actually do consolidations and don't just trap you into sending them deals to cherry pick your files?Anthony Diamond
Underwriter
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12-14-2015, 06:16 PM #2
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Hey Anthony,
I am doing almost all consolidations these days.
$50k - $2M
Monthly payment
12-18 Month term
All States
Almost any industry (we don't like individual restaurants)
Client has to be profitable with demonstrated net income to comfortably afford the monthly payment.
Please reach out via email if you would like to discuss. dan@fundingstrategypartners.com
Thanks,
Dan Page
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12-14-2015, 06:24 PM #3
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12-14-2015, 06:27 PM #4
Rapid will consolidate up to 3 positions, merchant needs to net 40%
TBB will consolidate 2 positions, merchant need s to net 50%
GBR/BFS will consolidate 3 positions, merchant needs to net 75%
My Yankee loving buddy Matt over at Foxii will consolidate up to 3 positions, and is flexible on merchant net
All of those companies will offer up to 15 months
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12-14-2015, 06:28 PM #5
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12-14-2015, 06:32 PM #6
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Hey Anthony,
Yes, requirements are definitely stricter than a typical advance. Instead of looking primarily at bank statements, we look deep at the company's profitability (P&L, Balance Sheet, etc.). If the client is losing money with no turnaround at hand and the reduced payment will not bring them back into the black, we are not a fit. But if they are making money and they will have some margin left over at the end of the month after meeting their obligations, that is our client.
Given our high limits, I can do consolidations that others cannot. I'm also not concerned so much about the number of positions...but moreso the client's ability to pay. We do prevent the client from stacking (yes, we monitor) so they would need to be committed to get out from the stacked loans, at least during the timeframe they are repaying. Cash out is certainly possible (but not required) if the client can justify how they will earn revenue on the extra cash. Hope this helps.
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12-14-2015, 06:37 PM #7
- Join Date
- May 2015
- Location
- NC
- Posts
- 208
Breakout Capital:
http://dailyfunder.com/showthread.ph...eakout-Capital
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12-14-2015, 06:54 PM #8
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
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12-14-2015, 07:12 PM #9
- Join Date
- May 2015
- Location
- NC
- Posts
- 208
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12-14-2015, 08:23 PM #10
WBL does these for up to 36 months
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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12-14-2015, 09:39 PM #11
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Thanks for the mention guys! Yes, we max out at 100K. Advances available in all states except California, loans available in around 35 states. No minimum credit score, no net required by merchant, no max number of positions consolidated.
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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12-15-2015, 09:35 AM #12
thanks for the insight chambo, that was very resourceful.
hopefully this will become a good reference thread for people seeking the same productAnthony Diamond
Underwriter
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12-15-2015, 09:35 AM #13
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12-15-2015, 09:37 AM #14
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
It does seem like Consolidation is the next "thing" that is going to help make brokers and funders alike successful. In the same way that stacking had made a lot of money for brokers, it seems to me that there is a major push to undo the damage caused to merchants accounts by reckless stacking which is a great thing.
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12-15-2015, 09:41 AM #15
andy, yes and sadly I am not giving anyone info they don't already know by saying this but a lot of rep's that have control over their merchants will use consolidations and stacking hand in hand to make even more money I think that has to be a major point of focus for consolidators - i am not a rep or broker, rather a lender and I am just trying to help one of my merchant's who is in the hole.
Im sure all lenders have a list of rep's that are blacklisted though, I know I do.Anthony Diamond
Underwriter
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12-15-2015, 09:58 AM #16
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
For advances, credit we are flexible -- we have funded sub-500s to upper 700s. For really poor credits, we will focus on how recent the they have defaulted or been delinquent, and how core the asset is -- if they had several defaults or a bankruptcy two or three years ago, no problem -- if they stopped making payments on several debts the past two months, that's more of a problem.
Three biggest factors we look at are deposit volume (fund up to 125% of deposits), consistency (infrequent deposits fine as long as they are at least semi-regular/predicable) and advance/loan repayment history -- if they have been consistently making payments on higher cost advances for an extended period of time, we will be aggressive. That said, they also need to have a consistent payment history on other core business assets (e.g. if a storefront, restaurant, or other brick and mortar business and they are behind on rent, that is a deal killer). We have daily, weekly, bi-weekly, and monthly options available -- we tie the ACH draws to deposit frequency. Email me at address in signature for full program summary if you'd like more info.Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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12-15-2015, 10:11 AM #17
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
I'm with you 100%, I think the basic premise of stacking was a good one, give a merchant extra funding between his big advance to bridge them over. However, a lot of things sound great in theory, (See: Communism) but in reality they don't work nearly as well.
It will be interesting to see how many brokers who you described above end up on the outside looking in when the lenders finally say, "enough already!" and really start black balling people.
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12-15-2015, 10:47 AM #18
- Join Date
- Jan 2015
- Posts
- 18
UCC Leads and Email data
A guy I know recently attempted to enter the alternative funding space. He bought UCC data, and very detailed data that includes email addresses. He had another opportunity come up and went that direction without ever using leads/data. He reached out to me to purchase. I have and can verify its good, but there's way too much for my 1 person ISO to cover. He's willing to take a big loss on selling either of these groups of leads/data so if anyone else would benefit from this I can connect you to him? I'm sure he could do some free samples. Pricing would range depending on volume and what type, but there's millions between the two. There's nowhere you will buy this data cheaper and it's not going to be sold more than once. Message me with a contact name and number and I'll put you in direct contact with him.
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12-15-2015, 11:02 AM #19
- Join Date
- Jul 2014
- Posts
- 1,746
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12-15-2015, 12:27 PM #20
- Join Date
- Mar 2014
- Posts
- 12
We'll consolidate up to 3 advances, advance amount capped at $125k
Michael Puderbeutel- CEO
o- 866-629-4464 x 207
f- 917-368-6943
[email]michael@quicksilvercap.com.com/email]
www.quicksilvercap.com
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12-15-2015, 01:28 PM #21
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12-15-2015, 02:11 PM #22
- Join Date
- Mar 2014
- Posts
- 12
Nothing as long as the daily goes down to a more manageable number.
Michael Puderbeutel- CEO
o- 866-629-4464 x 207
f- 917-368-6943
[email]michael@quicksilvercap.com.com/email]
www.quicksilvercap.com
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12-15-2015, 02:47 PM #23
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12-15-2015, 02:55 PM #24
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12-15-2015, 02:57 PM #25
- Join Date
- Jun 2015
- Posts
- 3,325
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