[AndyYSCISOdept]

Hmmm that's an interesting way of looking at it.

[Kevin Henry-Seacoast]

Thanks Richard. We do a lot of heavy lifting upfront, but we do move very quick and if we propose there is certainty to close.

[bdshaw]

There may be one difference Kevin. This particular loan product does not vary significantly in borrowing base allowing monthly payments of interest only to be made.
Lets talk early next week.
Bob

[happysales]

I've done a few deals with Funding Circle and a couple with Dealstruck. Funding Circle has a better payout at 3%-not great but they generally do bigger deals so it can add something to the bottom line. Dealstruck is 2% unless you fund 5 deals that month then it bumps up to 3%. Make sure your borrower is profitable at least one year out of two and has decent credit and cash flow before sending the deal over to avoid wasting your time and anyone else's.

[MCABroker]

Funding circle will back door your deals at all cost. I put my number down as merchant contact and they would not stop calling "my merchant" until they finally funded them. After which the file magical disappeared from my submissions.... Sketch. 300k no rubber

[FUNd]

Doesn't surprise me. If you're not a high volume ISO, the chances of you becoming a victim increase dramatically. Remove the cell phone and email address before submitting the deal. That will cut down on some of the BS. The lender does not need that information until it's time for funding, if at all.

[Michael I]

Wow what rookies . They tell you that they will officially call your merchant . Once they don't complete it within 5 days then it's open games and another agent can submit it

[bdshaw]

This thread began discussing term loans. As you can see from the comments there are several of us with many years of experience in working with financial statements and the loans they will generate. You will also notice that even between us there are substantial disagreements in what is a fair cost and structure. Some from banking who have a less expensive cost of funds believe that loans from commercial finance companies are too expensive. Of course they are correct if the loans carried risk that were acceptable to the banks, many do not. All this proves is that the "term" loans represent a large spectrum of credits and risk.
Even though, as has been previously said I'm at least 90 the other younger fellows are pretty smart too.
Brokers, if your deal possibly fall into the area of term loans you should feel free to contact any of us for help.
I suggest the oldest

[Funding Circle]

Hi MCABroker,

We really appreciate your feedback and are sorry to hear about your experience. We pride ourselves on excellent customer service, and would love to speak with you to learn more about your experience. Could you please give us a call at 855-385-5356 +2 or send us an email at partner@fundingcircle.com? If you private message us your contact information, we can also call you. Thanks,

-Funding Circle

[anonymous]

Hi MCABroker,

We really appreciate your feedback and are sorry to hear about your experience. We pride ourselves on excellent customer service, and would love to speak with you to learn more about your experience. Could you please give us a call at 855-385-5356 +2 or send us an email at partner@fundingcircle.com? If you private message us your contact information, we can also call you. Thanks,

-Funding Circle

let us know how that works out, we're all on the edge of our seats...