[pdmbls]

looking for a lender that will underwrite debt collectors...any ideas?

[mcaguru]

Shame, Cresthill Capital funds everything but Auto-sales legal services and collections. Otherwise Submit any file!!
Submit today and most likely will fund tomorrow! (subject to getting back contract -- hours after you get our offer!).


3 hour offers
Double digit commissions
Fewest stips
Funds hours after contract

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bizdev@cresthillcapital.com

[Zach]

World Business Lenders would be a strong candidate for this type of file. We can lend 6-36 months on even high-risk files.

Do you think the client has real estate collateral?

[mcaguru]

Zach
just an idea, why don't you tell ISO's the best scenario kind of merchant that may be a great fit for WBL..So perhaps you know factories and the specific kind (maybe scrap metal) or some idea to help your groups efforts. I'm sure someone at your company can figure out the best groups for ISO's to focus on for your box.

like i have been telling ISO's to go after TAX preparation companies!! i dont care about past revenues they can be NIL last month as long as Feb,Mar,April,(of 2015) have volume will give them a nice offer...

[dpFund]

I don't have a problem with debt collectors as long as they are profitable and have in business for more than two years.

I am a direct lender.

Dan Page
dan@fundingstrategypartners.com

[Zach]

Zach
just an idea, why don't you tell ISO's the best scenario kind of merchant that may be a great fit for WBL..So perhaps you know factories and the specific kind (maybe scrap metal) or some idea to help your groups efforts. I'm sure someone at your company can figure out the best groups for ISO's to focus on for your box.

like i have been telling ISO's to go after TAX preparation companies!! i dont care about past revenues they can be NIL last month as long as Feb,Mar,April,(of 2015) have volume will give them a nice offer...

Great idea Marcus, thank you for that. Here's the scenarios where WBL is a huge asset for every ISO:

1. We fund clients with NSF's or negative ending days.

WBL will look at deals with many NSF's and negative ending days. We recently consolidated a client's 4 existing advances with a $150K loan (they did approximately $80K of monthly revenue) over 12 months. Due to the excessive advances, the client had roughly 20-25 NSF's each month. We were able to provide the funds they needed to pay off the predators and save their business.

How this applies to you: every time you have a client with a low average balance, negative days, or NSF's, you should always ask if they have real estate they are willing to pledge to get the funding they need. This will help you close deals that would be impossible to get funded elsewhere.


2. We fund consolidation deals.

WBL is one of the few funders who actively funds consolidation deals. We do not require the client to net any of the proceeds. In fact, we will even do partial consolidations, paying off 2-3 of their advances and leaving the rest in place. As far as I know, we are the only lender who does that.

How this applies to you: every time you come across a client with existing loans, you should always ask if they have real estate they are willing to pledge. If you are offering to consolidate all of their advances into a single, longer term, you might stand out from the crowd of 3-month 1.45's they are surely seeing.


3. We fund more.

We typically lend 2 or 3 times the client's monthly revenue. Really think about this one. There aren't other options to get your client the size of offer we can provide. Every ISO needs to be able to combat the objection "Not enough money." Our product gives you the opportunity to offer three times the loan size of any of our competitors.

How this applies to you: always ask your clients if they could use a larger loan. This will differentiate you from the hordes of boiler-room felons who only sell fast, easy money. If they refuse your offer because the loan was too small, ask if they have any real estate with inefficient, unused equity. Their answers might surprise you.


4. We fund restricted industries with long terms.

WBL funds used auto dealerships, attorneys, bail bonds, house flippers... you name it. In fact, we will extend terms as long as 36 months to any of those industries. That's right -- that used auto dealer who you could only get a 3-month 1.45 for can now qualify for a 6-month 1.30, or even a 12, 15, or 36 month offer. We're just crazy like that.

How this applies to you: any time you get stuck with a 3-6 month offer for a high-risk client, ask if they have collateral to pledge for a longer term and lower rate.

[LoanMe]

looking for a lender that will underwrite debt collectors...any ideas?

LoanMe can take a look at this file. We do not have any restricted or prohibited business types or SIC codes. The business just must be "For- Profit" business.

[fundgorilla]

I accept debt collectors, they're invited to come work for me at any time.