Results 1 to 25 of 26
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02-09-2016, 04:07 PM #1
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- Sep 2014
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- 263
Direct Lenders ONly Please - 250k 12 Month Deal
I have a Customer looking for 250k at least a 1 year deal with a buy rate of no more than 1.179
If you can do this them PM me please
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02-09-2016, 04:17 PM #2
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- Apr 2015
- Posts
- 297
1.179??
I take it you're not looking to make any money here? The only people I can think of that will come close to that is OnDeck.
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02-09-2016, 04:24 PM #3
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- Jul 2014
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- 1,746
Direct Lenders ONly Please - 250k 12 Month Deal
Sure, anyone can do a deal for 1.18 - with no details provided whatsoever.
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02-09-2016, 04:27 PM #4
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- May 2015
- Location
- NC
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- 208
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02-09-2016, 04:34 PM #5
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- Sep 2014
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- 263
And if you had read it - I asked for Direct Funder's to Private Message me if they had funding in that range and I would supply information to them directly. I do not believe in dumping client information into an open forum to get hashed out. And I have 2 Possible Funder's right now who will get copies of the banks and Accounts receivables and P and L and Tax returns.
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02-09-2016, 05:03 PM #6
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- Jul 2014
- Location
- Online
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- 965
Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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02-09-2016, 05:29 PM #7
- Join Date
- Oct 2013
- Location
- New York, NY
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- 1,203
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02-09-2016, 06:28 PM #8
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- Jul 2014
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- 1,746
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02-09-2016, 06:38 PM #9
Kalamata, BB, and OD
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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02-09-2016, 06:56 PM #10
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02-09-2016, 08:25 PM #11
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- Sep 2014
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- 263
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02-09-2016, 08:27 PM #12
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- Sep 2014
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- 263
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02-09-2016, 08:41 PM #13
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
Direct Lenders ONly Please - 250k 12 Month Deal
If they're an A paper deal then take them to a term lender with a single digit rate. If 3 bps is what your going to make them give your client a better option than kalamata, swift and business backer. And if you have 3 funders why are you still looking?
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02-09-2016, 09:49 PM #14
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- Jul 2014
- Posts
- 1,746
Direct Lenders ONly Please - 250k 12 Month Deal
3 points on 250K you call a win? I call it getting your pants pulled down, off, and flung across the room.
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02-10-2016, 09:43 AM #15
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- Sep 2014
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- 263
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02-10-2016, 09:46 AM #16
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- Sep 2014
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- 263
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02-10-2016, 10:38 AM #17
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02-10-2016, 10:40 AM #18
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- Jul 2014
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- 1,746
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02-10-2016, 10:46 AM #19
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02-10-2016, 10:47 AM #20
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- Sep 2014
- Posts
- 263
I have an offer from three funders subject to final all presented to client - the lease was in the works but he needed the money for building improvements in order to upgrade his plant and power systems all not things a lease can provide. I did not look for the cash improvements until final approval on the lease was given on Monday. Its called customer service and working the deal to closing.
The lenders are aware of the equipment deal and the use of funds. And before you get confused the improvements are on a property he leases triple net and his landlord is not responsible for upgrading to 880 Three Phase power systems and he has to pay the power company to upgrade the feed service to the building. He also needs to install some Direct Current and Battery backups to use the New Equipment.Last edited by michaelh; 02-10-2016 at 10:55 AM.
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02-10-2016, 10:50 AM #21
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- Jul 2014
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02-10-2016, 11:06 AM #22
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- Sep 2014
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- 263
Its impossible to have an intelligent conversation with someone like you. The client has been a customer for 8 years on various leasing projects. And you wonder why this industry has such a bad reputation with people trying to bury the customer with Hugh commissions and fees. You want to rape clients on one time commission complaining that 3 percent on 250k is not a good days work and then you can do nothing but make smart ass comments to people who develop long term customers based on hard work and business solutions. This industry does really need some regulation.
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02-10-2016, 11:28 AM #23
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- Jul 2014
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- 1,746
Is this what your experience has led you to believe? That we need regulation and are a bunch of 'rapists'? Let me break it down pee-wee: 3 points on 250K is NOT a good "days" work. If you ever ran a business you would know that there are costs, like admin, rent, marketing, payroll, TAXES, etc. - You're a certified idiot. Have fun not closing this deal. I'm done.
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02-10-2016, 11:57 AM #24
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- Sep 2014
- Posts
- 263
You just made my case - You don't have Hugh marketing cost and payroll cost when you have repeat customers. You have to build relationships to get referrals. And the Bulk of our business with my partners is SBA and receivable and lease financing. If you just look at our customer list I can tell you that we have a stack of customers in Illinois whose credit has been hammered by the States Budget problems and they have been forced into short term borrowing - but that does not mean that I would take the route of burying them with expense loans and hit them for max commission. When Illinois and the Federal Government start paying again in under 6 months then all of these business's owners credit will recover.
And then we can refinance with SBA and bank products - and your right we will only earn 2 points on SBA loans and according to you nobody can run a business doing this type of lending.
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02-10-2016, 02:42 PM #25
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Let me throw in my 2 cents Michaelh. I agree with you that 3 points on this deal is reasonable but I'm not sure why you want to put them into an advance. The APR to the customer is around 30%. It sounds like you could make more money, increase the loan amount and get much better terms for your customer by putting him into an ABL.
Bob Shaw
Advance Credit Funding Corporation
734-929-3800
rshaw@advancecredit.com
rshaw@millenniuumfundingusa.com
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