[UCCBS]

I have communicated directly with the ceo of Lendberry. Pending a reply for greater clarity. For now I can convey that they offered a scale up from 60% to 70%. As posted:
Net commissions on account receivables funding will usually average between 4.8% and 7.2% of the total loan amounts; obviously higher as you scale up in the commission tiers.
Sometimes these loans (funds) can be marked up 14% above money cost. At the top of the scale (the 70% commission) you would earn 9.8% commission on those deals. That is almost 10% of the total loan amount. About 60% or more of your loans will be this type of loan.

The Standard Merchant Cash Advance -- These will have a money cost of 35% to 40% for 4 to 6 months and they can usually mark them up only 5% above money cost (3% net commission for you) depending upon the lender. This is for merchants that have a cash advance or loan outstanding with a high balance remaining and for merchants with poor bank statements (low balances, a lot of insufficient funds, etc.). They say about 20% or less of your loans will be this type of loan

The Super Bad Loan- This costs the merchant 49% for 3 or 4 months and comes straight out of the credit card processing. It is for the merchant with a less than 500 FICO or a merchant that has messed up their business credit and banking. We get 5% commission on these loans (3% net commission for you). Less than 10% of your loans will be this type of loan.

[isaacdstern]

The definition of a starter deal has changed...in 2009 it was a 1st Merchant $3500. 1.49...today a starter deal can be any size. We classify a starter deal as one that does not qualify for a longer/cheaper deal because of credit, tax liens, nsf's and time in business. A merchant may apply doing $500K a month but if he has a 510 fico score no one will give him a 6-9 month low Factor rate deal...YSC may offer him 50-75k at a 140 over 3 months or some variation of that....point is starter deals are no longer just 2-5k deals

[Eric S]

The definition of a starter deal has changed...in 2009 it was a 1st Merchant $3500. 1.49...today a starter deal can be any size. We classify a starter deal as one that does not qualify for a longer/cheaper deal because of credit, tax liens, nsf's and time in business. A merchant may apply doing $500K a month but if he has a 510 fico score no one will give him a 6-9 month low Factor rate deal...YSC may offer him 50-75k at a 140 over 3 months or some variation of that....point is starter deals are no longer just 2-5k deals

We do a good amount of those, just a different name. We call them traditional. For us starter deals are like the 1MF deal you mentioned, but the funding amount still depends on gross.

[Tomjg]

Chambo - not at all. We underwrite based on all bank deposits. We can offer repayment options based on capturing a percentage of a practices insurance or via ACH. Shoot me an e-mail or give me a call to discuss further in you have any interest.
Tom

[funding pro]

I have heard of a company called lend berry. You generate your own clients. You submit to them as your main house an when sold you keep 70% an they keep 40%.

Whoa...if I carry the 2 and divide by the inverse of the square root, who gets the other 5%?

(sorry I had to)

[mfs01]

MFS Global offers up to 12 points commission on funded and up to 100% syndication on all deals you fund with us.

Give us a call for more info:
702-473-1145
isosupport@mfsglobal.com

[mfs01]

MFS Global offers up to 12 points commission on funded and up to 100% syndication on all deals you fund with us.

Give us a call for more info:
702-473-1145
isosupport@mfsglobal.com

[Chambo]

Chambo - not at all. We underwrite based on all bank deposits. We can offer repayment options based on capturing a percentage of a practices insurance or via ACH. Shoot me an e-mail or give me a call to discuss further in you have any interest.
Tom

Pro-Mac (precursor to Pro-Med) used to split on the insurance payments. If you are now looking into cash deposits/payments as well...well then what distinguishes you from any other ACH based lender? Why submit to you as opposed to anyone else?

[Tomjg]

Pro-Mac (precursor to Pro-Med) used to split on the insurance payments. If you are now looking into cash deposits/payments as well...well then what distinguishes you from any other ACH based lender? Why submit to you as opposed to anyone else?

Great question- glad you asked Chambo. If for no other reason, the fact that we offer both can make the difference in whether a doctor or medical professional takes a deal. That being said, there's also the whole consciousness of kind thing. People like dealing with like people. We are on top of the medical industry. We speak their language so to speak. We know what's going on within the medical arena . This to can help push a deal over the edge. It can especially prove beneficial when it comes to renewals. Everyone in my office, from sales support to closing is current with today's healthcare market place. So when a doctor or medical professional gets a call from renewals it's not just "you are up for a renewal, do you need more money". Would love a chance to work your medical deals and show you.

[Chambo]

Great question- glad you asked Chambo. If for no other reason, the fact that we offer both can make the difference in whether a doctor or medical professional takes a deal. That being said, there's also the whole consciousness of kind thing. People like dealing with like people. We are on top of the medical industry. We speak their language so to speak. We know what's going on within the medical arena . This to can help push a deal over the edge. It can especially prove beneficial when it comes to renewals. Everyone in my office, from sales support to closing is current with today's healthcare market place. So when a doctor or medical professional gets a call from renewals it's not just "you are up for a renewal, do you need more money". Would love a chance to work your medical deals and show you.

"gets a call from renewals..."????? Are you saying you are trying to take over the deal?!

[JSL23]

"gets a call from renewals..."????? Are you saying you are trying to take over the deal?!

That is exactly what I was thinking. Its great you "speak their language" but as an ISO I would want to actually handle funding and renewing them.

I definitely have to learn more about that program so I can articulate it to them.

With all the uncertainty over OBUMacare what type of reception has everyone been getting from the Medical field? Besides UCC filings how have you all reached out to doctors?

[Alleon Healthcare]

All of these are good options if your client is looking for cash advances. As I have mentioned before, factoring facilities and AR lines of credit are usually much better for a client than cash advances. Furthermore, the most important thing the client needs in order to qualify for these facilities is good quality AR. We have funded borrowers, with poor credit, recent BK's, current tax issues and more.