Results 26 to 45 of 45
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12-15-2015, 03:02 PM #26
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12-15-2015, 07:19 PM #27
- Join Date
- Mar 2013
- Posts
- 21
Carl,
When you say max out at $100K, is that mean their total balance can't go over $100K?
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12-15-2015, 09:15 PM #28
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Yes, total amount sent is 100K or less between any funder that is paid off plus amount sent to merchant, if any. We have to be the only position post-consolidation, so we have to consolidate all positions and total balance has to be 100K or less. We typically have no origination/underwriting fees, unless we are consolidating 3 or more positions -- that cost is included in our factor -- so we have a true 100K max, not 100K minus thousands in fees.
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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12-16-2015, 03:20 AM #29
- Join Date
- May 2015
- Location
- New York, NY
- Posts
- 29
meant to send a PM - can't delete a post on here?
Last edited by Yesfund; 12-16-2015 at 03:24 AM.
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12-16-2015, 08:02 AM #30
- Join Date
- Apr 2015
- Posts
- 297
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12-16-2015, 08:17 AM #31
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
Aren't you able to edit the posts?
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12-18-2015, 04:43 PM #32
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
Consolidation
Hello Dan,
Hope all is well. Can you please send me your ISO agreement and funding guidelines? I may have a consolidation deal for you to look at.
My contact details are as follow:
EJ Ortiz
Vortex Financial Group, LLC
Cell: (786) 566-3002
Eortiz@vortexfinancialgroup.com
Please excuse my website as I am in the process of putting it together.
Looking forward to your information.
Thanks in advance!
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02-16-2016, 07:23 PM #33
- Join Date
- Oct 2015
- Posts
- 24
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02-16-2016, 07:37 PM #34
Who's doing consolidations?
What is contact number at this place called Foxii?
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02-18-2016, 10:06 AM #35
- Join Date
- Oct 2014
- Posts
- 56
please call me
Steven Kamhi
ALTERNATIVE DIRECT FUNDER
Office: 1-888-484-1004
Direct: 516-444-3499 ext. 1002
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02-18-2016, 10:10 AM #36
- Join Date
- Oct 2014
- Posts
- 56
Product and Pricing Types - ACH Programs with a max term of 6.5 months. Average rates range from 1.38-1.45; Special program is offered at 1.29 for 60 business days=80 day program deal buy rate1.30 max upsell 8 points credit needs to be 640
Will do second- thirds position deals, and [COLOR="#FF0000"]consolidations of current advances no more than paying off 35,000, however merchant must net at least 50% of
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02-18-2016, 01:01 PM #37
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
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05-05-2016, 04:25 PM #38
- Join Date
- Mar 2016
- Posts
- 657
Search and you shall receive. Have been looking for a place to find a reputable consolidation company, and instead of starting a whole new thread for Consolidations, just to get shout at and getting called names, i found that magical thing called "search bar."
Thanks for this thread, very helpful
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05-05-2016, 04:30 PM #39
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05-05-2016, 09:14 PM #40
- Join Date
- Jun 2015
- Posts
- 13
Consolidations aren't worth the time. Plenty of 5 man lenders will tell you'll they'll do them. But the requirements although fair are rarely approved. The primary lenders will pay off 2 and on occasion 3. If they tell you they won't then they aren't one of the primary lenders OR you don't know how to work with them and haven't given them very many clean deals.
Basically if the borrower can qualify with a primary lender with out any existing MCA's then you have shot with them. This really is your best shot. Why? Because these lenders give longer terms. And with longer terms comes higher approval amounts and better cash flow options for the borrower.
If a borrower has good qualifications and has several existing MCA's and is asking for consolidation then think about it. Their existing lenders won't give them more and probably won't renew. So now you're going to turn around and call a bunch of lenders and beg them to consider it? lol. Good luck.
You'll probably need a high enough approval to be double the combined balance for their existing MCA's so they net 50% of the new MCA. You'll probably need at least a 6 month term and the payback probably can't exceed 14% from gross. And finally it will help if the new payback is lower than the combined payback of the existing MCA's.
Look. If you haven't worked with the borrower before and he's telling you that he'll take your deal because he likes you if you can just get him approved. Hang up the phone. He's probably already black listed by the good lenders.
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05-09-2016, 02:49 PM #41
- Join Date
- Oct 2014
- Posts
- 56
please call me
Regards,
Steven Kamhi
ALTERNATIVE DIRECT FUNDER
Office: 1-888-484-1004
Direct: 516-444-3499 ext. 1002
Cell:516-314-6887
Fax: 516-765-9184
StevenK@nulookcapital.com
WWW.NULOOKCAPITAL.COM
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05-09-2016, 04:31 PM #42
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Who's doing consolidations?
We've effectively done c9nslodations by cleanung advances off of the blancesheet.
By providing working capital utilizing assets as collateral we can often payoff old debt and geant increased lines to the customer.
Bob Shaw
734.928.3800
rshaw@advancecredit.com
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05-09-2016, 04:39 PM #43
- Join Date
- Jul 2014
- Posts
- 1,746
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05-09-2016, 04:41 PM #44
bdshaw, Instead of cleanung advances off of the blancesheet, why dont you clean your keyboard?
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05-09-2016, 04:46 PM #45
- Join Date
- Jul 2014
- Posts
- 1,746
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