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01-23-2016, 01:35 PM #1
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- Jan 2014
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- 56
whats going on with Pearl these days
if i recall correctly they used to have a similar product as Yellowstone, doing mostly D paper and hard to place deals; i know they restructured, and i've never really signed up with them, are they worth having in my arsenal of lenders?
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01-23-2016, 01:55 PM #2
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- Apr 2015
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- 297
not so much for the D-F paper stuff so much anymore. but they will give offers (usually pretty small) if you can't place them in the usual channels. they have a $5k starter program that works for some merchants that would elsewhere be declined.
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01-23-2016, 02:20 PM #3
whats going on with Pearl these days
Yeah at a 21 day term with a 1.51 plus fee's.
Last edited by CO1; 01-23-2016 at 03:01 PM.
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01-23-2016, 03:26 PM #4
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- Jul 2014
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- 1,746
whats going on with Pearl these days
You need a very desperate merchant, and you as an ISO need a lot of patience with their process and UW requests. (however to be fair, I've seen a huge uptick in extra stips required from lenders lately across the board)
If you have these two things, then yes, you can make some money with them.
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01-23-2016, 04:19 PM #5
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- Jul 2015
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- 23
They are sketchy. I would send deals to them only as a last resort
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01-23-2016, 06:04 PM #6
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- Jul 2014
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whats going on with Pearl these days
Last resort, yeah that's how they have strategically placed themselves in the market. Not because you find them "sketchy".
In fact, there are about 100 fools on this board who I find far more sketchy than Pearl Capital. At least I know they are a funder and not some co-broker or @gmail.com "lender".
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01-23-2016, 11:11 PM #7
What is their ideal client these days? They used to be a place for D deals, what are they looking for now?
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01-24-2016, 10:46 AM #8
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- Jul 2014
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- 1,746
whats going on with Pearl these days
2nd or 3rds. Avg sell are 4 month deals at 1.49-1.55. They seem to be comfortable in the 5-25K approval arena. Throw enough against the wall and some will stick. Take or leave type of product, I don't take a lot of time trying to talk people into these.
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01-28-2016, 05:41 PM #9
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- Dec 2013
- Posts
- 81
4th positions- 4 to 5 months at 1.45 to 1.47, which I think is good for a 4th position. I don't usually take these types of clients on, but these were very high volume merchants, so 4th was $30-80K.
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01-28-2016, 06:22 PM #10
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- Dec 2015
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- 2
I don't know why anyone would work with them. Right after we submitted deals to them, our client started to receive multiple calls from a lender on Pearl's same floor. Get the picture?
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01-28-2016, 08:18 PM #11
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- Jul 2014
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whats going on with Pearl these days
No I don't get the picture. What's a "lender on Pearls same floor" mean? Are you accusing them of backdooring deals?
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01-28-2016, 08:36 PM #12
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- Jul 2014
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whats going on with Pearl these days
I should add, I've had two very juicy large, clean deals in the past week that have been approved by the same MAJOR lender (not naming names), that were gangbusters excited to get funded, great rapport was built, proper cost of funds and payment conditioning deployed, and they both came back to me with the exact same story about why they weren't moving forward. So similar it sounded rehearsed or coached. (Both pulled an amazing "4%" loan approval from their local bank out of their ass at the last minute, as if they wouldn't have gone there first.)
But.....tis this industry, I can't do much about it, can I?Last edited by FUNd; 01-28-2016 at 08:42 PM.
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01-29-2016, 07:01 AM #13
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- Jun 2014
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- 195
I used to work with them a lot but since Abe and Meir sold they are a train wreck, much less sleezy but still a disaster now to work with
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01-29-2016, 08:42 AM #14
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- Jun 2015
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01-29-2016, 08:43 AM #15
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01-29-2016, 09:59 AM #16
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- Sep 2015
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- Miami, Fl
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- 148
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01-29-2016, 10:08 AM #17
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01-29-2016, 10:37 AM #18
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- Jul 2014
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01-29-2016, 10:40 AM #19
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01-29-2016, 11:59 AM #20
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01-29-2016, 12:00 PM #21
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01-29-2016, 12:21 PM #22
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- Oct 2013
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- New York, NY
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LOL. Love it.
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01-29-2016, 01:52 PM #23
Ironically, TBB was the first place I ever saw stacking (they refer to it as "side by side")
When Pearl went by Zeines Partners here at Yellowstone, they began stacking, blew my mind they could get away with it.
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01-29-2016, 01:54 PM #24
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- Jul 2014
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whats going on with Pearl these days
Wonder what this space would look like without stacking of any kind...
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01-29-2016, 01:55 PM #25
90% of the people on this forum wouldn't be here
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