Term loans and locs
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  1. #1

    Term loans and locs

    Does anyone know if lending club, funding circle, kabbage, bond street require an mca or daily/weekly loan provider to be paid off? Seeing more of these co behind odc/can and others.

  2. #2
    Senior Member Reputation points: 12878
    Join Date
    Jan 2016

    Not 100% sure about Kabbae and lending club but if you have a merchant who has an MCA FC will pay it off with a portion of the loan

  3. #3
    Senior Member Reputation points: 68233
    Join Date
    Dec 2014
    Quogue, NY

    Funding Circle and Bond Street typically require that ACH's be satisfied- unless it is a true bank LOC with very low interest.. Lending Club is automated so they likely factor in the existing debt and approve an amount with that in mind.

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