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02-12-2016, 01:12 PM #1
How Many Positions?!?!
As we just saw, someone just offered a 6th position offer. The worst bank statements I saw had 7, I heard about one that had 11, what is the worst that any of you saw?
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02-12-2016, 01:15 PM #2
I have actually seen 6 outstanding on a bank statement. I have heard of up to 7 or 8 but not seen myself
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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02-12-2016, 01:20 PM #3
- Join Date
- Nov 2014
- Posts
- 266
I've seen 13 and the guy wanted more..I asked him if his goal was to go out of business and he practically hung-up on me.lol Although daily ledger was still 10k amonth.
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02-12-2016, 02:25 PM #4
I've seen 9 in one before. Sad thing is it was a client that I funded the first position deal for.
Loyalty is rare these days, I supposeZachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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02-12-2016, 03:11 PM #5
- Join Date
- May 2015
- Location
- NYC
- Posts
- 197
I'm sure some of you have seen a catering company with 7 positions where something like 90k/130k of monthly revenues is ACH'D out
Shout out:
#Yellowstone
#EBF
#ACE
#Pearl
#Core
#MCC
#ARCH
#TEAMWORKLast edited by TStein; 02-12-2016 at 03:16 PM.
Tommy Stein
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02-12-2016, 03:15 PM #6
- Join Date
- Apr 2015
- Posts
- 297
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02-12-2016, 03:18 PM #7
- Join Date
- Oct 2014
- Posts
- 260
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02-12-2016, 03:20 PM #8
- Join Date
- Apr 2015
- Posts
- 297
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02-12-2016, 03:19 PM #9
- Join Date
- May 2015
- Location
- NYC
- Posts
- 197
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02-12-2016, 03:20 PM #10
- Join Date
- Apr 2015
- Posts
- 297
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02-15-2016, 10:28 AM #11
- Join Date
- Sep 2015
- Location
- Miami, Fl
- Posts
- 148
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02-15-2016, 01:03 PM #12
- Join Date
- Sep 2014
- Posts
- 720
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02-12-2016, 03:39 PM #13
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02-12-2016, 03:48 PM #14
- Join Date
- May 2015
- Location
- NYC
- Posts
- 197
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02-12-2016, 03:32 PM #15
- Join Date
- Nov 2015
- Posts
- 5
I saw 8, AND I offered the merchant to buy them all out to lower his daily payment and he said and i quote "NO NO ME WANT MORE MONEY LEAVE THEM ALONE!" lolol I love them *****s!
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02-12-2016, 03:40 PM #16
I have seen a merchant with 16 stacks in a bankruptcy filing. It was like reading an industry directory.
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02-13-2016, 05:18 PM #17
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
I thought I remembered a thread discussing 13 or 14 positions on this forum a couple of years ago, but may be mistaken. We saw 11 positions a couple of weeks ago, but didn't fund it -- the most we have consolidated is 7 positions (no net, and the deal has repaid perfectly). Actually a decent company other than how much they were paying in daily payments -- they were paying around $17.5K per week drawn on a daily basis, we lowered weekly payments to $5.3K.
Dan, consolidating a few deals 8 deep and not getting stacked is quite impressive!Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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02-12-2016, 03:44 PM #18
- Join Date
- Jan 2016
- Posts
- 435
"Well 7th position, I will have to stack two positions but it will help the merchant long term"
just to top it off...
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02-12-2016, 04:01 PM #19
at that point i dont care what anyone says, the merchant is living off advances and is counting on renewals every month or so in order to survive otherwise he's on his way out.
Anthony Diamond
Underwriter
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02-12-2016, 05:32 PM #20
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
I have consolidated two different clients that had eight positions (so I end up in first). So far neither one of them has stacked on me, but I have a very onerous no-stacking clause.
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02-12-2016, 06:36 PM #21
- Join Date
- Sep 2014
- Posts
- 430
When Congress starts clamoring for regulation in this space, I hope this thread is exhibit A. If not this one, the one about Wall Funding.
#****show
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02-12-2016, 06:50 PM #22
- Join Date
- Jul 2014
- Posts
- 1,746
How Many Positions?!?!
Congress doesn't need to wipe everyone's nose all the time. These people know damn well what they are signing. They are to blame. NOT THE LENDERS. So F'ing tired of everyone playing the blame game for their f ups.
McDonalds made me fat, Marlboro made me smoke, the banks made me take a mortgage, the gun made me kill. Take some PERSONAL RESPONSIBILITY AND LIFE WOULD BE A LOT BETTER.
Pussies.
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02-12-2016, 07:57 PM #23
Wtf 16!? How much was this making a month to get that many?!
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02-12-2016, 08:01 PM #24
- Join Date
- Jul 2014
- Posts
- 1,746
How Many Positions?!?!
I find that so hard to believe! I've tried a few 4ths at Pearl and declined every time, even with some room on the banks for more daily pounding.
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02-12-2016, 08:21 PM #25
How Many Positions?!?!
It's the small little ****tard shops. And sometimes the ones that come on here and pump up there chests like great apes! Dead to them all.
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