Results 26 to 35 of 35
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12-18-2015, 11:57 AM #26
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
Hmmm that's an interesting way of looking at it.
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12-18-2015, 12:10 PM #27
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,502
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.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-18-2015, 12:18 PM #28
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Term Lenders
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
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12-18-2015, 03:46 PM #29
- Join Date
- Dec 2013
- Posts
- 81
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.
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12-19-2015, 10:17 AM #30
- Join Date
- Aug 2014
- Posts
- 194
Term Lenders
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
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12-19-2015, 12:33 PM #31
- Join Date
- Jul 2014
- Posts
- 1,746
Term Lenders
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.
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12-19-2015, 08:37 PM #32
- Join Date
- Jun 2015
- Posts
- 3,325
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
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12-19-2015, 10:55 PM #33
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Term Lenders
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
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01-08-2016, 11:47 AM #34
- Join Date
- Jan 2016
- Posts
- 1
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
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01-08-2016, 01:15 PM #35
- Join Date
- Sep 2014
- Posts
- 720
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