[Older Guy]

Our loans fall into several main categories:

Revenue Based Loans - Revenue based loans have a term of four months to twenty-one months and are solely reliant on the most current four months of bank statements. Rates are from 28% up to 45% Payments are done by daily draw five days a week, although, in some instances, weekly draws are possible. Revenue Based Loans require a minimum of $7,500 in monthly deposits. Up to $2 million per loan.

Hybrid Loans - Hybrid loans have interest rates of approximately 22% and terms ranging from twelve months to twenty-one months with a minimum loan amount of $25,000. Businesses are eligible for up to 15% of annual GROSS income. Hybrid loans require a sole proprietorship, corporation or LLC in business for more than one year, an Experian Fico score of 570 or higher, most current four months of business banking statements, one year business tax return, and most current four months of merchant credit card statements, if applicable.

Term Loans - Term loans have a term of one to five years (they typically run two to three years) and have a minimum loan amount of $25,000. Businesses are eligible for up to 30% of annual GROSS revenue in funding with the loan being renewable every 6 months. Interest rates can range from 5% up to 20%. In order to qualify for a Term Loan, you will need a 620 Experian Fico score, to have been in business for two or more years, and will need to show $150,000 in GROSS revenue on your last tax return. S Corp, C Corp of LLC only. Can be Sole Prop if filed for Corp or LLC and have bank acct.

NOTE: If you are applying for a Term Loan, please also provide last six months of business banking statements, two years of business tax returns, and most current personal tax return, as the underwriters will need those to arrive at a proper loan decision.

Term Loans - 600 Fico to 620 Fico 1 - 4 years, 10% up to 19% Same stips as 620 Fico term loan. Some industries and states are ineligible.

Start up program: This is a pre-loaded credit card....Amounts from $25,000 up to $250,000 needs a 685 Fico score to qualify.

SBA 7A program....Rates from 3.5% up to 7.25% 10 year term. $30,000 up to $350,000 Under $150,000 600 Fico, over $150,000 650 Fico.

Veterans who own their own business - Term Loan 600 Fico term 1 - 4 years, Rates 10% up to 19% 1+ years in business. Revenue $3,000 up to $150,000

Debt Consolidation - can consolidate all working capital loans with a total to $100,000. Lower payment.

[FUNd]

Your address on your CA SOS leads back to a Regus office space in Irvine. You have a credit facility and are a direct lender?

[Older Guy]

That's one of the offices we use. This is our retail direct office. We opened it and sub leased it January 4th. The owner is here half days. We also have several brokers offices. And we have another office with underwriters and processors. We are planning to move into a larger facility in July. We've been in operation 9 years.

[FUNd]

That's one of the offices we use. This is our retail direct office. We opened it and sub leased it January 4th. The owner is here half days. We also have several brokers offices. And we have another office with underwriters and processors. We are planning to move into a larger facility in July. We've been in operation 9 years.

Why would a licensed DIRECT lender with apparent control of millions of dollars (by reading your offerings) have a REGUS office space listed on your SOS? I've been to that building in person and it is the equivalent of a fancy public storage facility that houses hundreds of one and 2 man companies with public conference rooms and a common receptionist. A credit reporting agency wouldn't even approve you to run consumer CBRs with an setup like that. What does the owner being there half days have to do with anything anyway? What is "retail direct"?

In addition, you've been around NINE years and have almost no Google presence besides the links that lead back to your own website which appear after a month?

Lastly, I've been in this game in Orange County for a long time and I've never, ever heard of you.

[Older Guy]

Why does it matter...why should we run our business like YOU think it should be run? Who cares?

Either our product and underwriting and funding works for you or it doesn't. We prefer to NOT to be so very public about our operations.

Direct retail means we go direct to businesses, not to brokers in this office. We have a dialer and other campaigns to get to business owners. It gives us flexibility to tailor programs to the business needs as we have direct market information. It helps us develop products and programs that we can then give to our brokers.

[FUNd]

Well, STEVE, you have no California Lenders License, yet you are based in this state and are a DIRECT lender. I think you are full of ****.

And it matters because you are soliciting business under false pretenses, and it's my job to break your balls.

[bdshaw]

FUNd, I'm proud of you.
I think you are right on here.
Bob

[FUNd]

Here's what this guy thinks of the MCA community - from a job posting I just found:



JOB DESCRIPTION

Are you tired of working for jerks in crappy companies* (Business Loans, good phone people)

ARE YOU A HIGH ENERGY, TYPE A PERSON********

(NO LICENSE IS REQUIRED FOR THIS POSITION)

I've been a mortgage loan officer for a number of years. Recently I elected to get involved with business loans (legal loan sharks). They are quick buck, high interest rate loans that can be reloaded in the future for additional income.

THE PROBLEM IS that these business loan companies DON'T HAVE A LONG TERM PLAN to assist these people to get out of the hole there are digging for themselves.

I've interviewed with a whole bunch of these companies and I'm not impressed with their products or their attitudes. . .they are interested in making money and helping desperate people. But they don't give a crap long term. These aren't highly educated, highly responsible, higher conscious folks.

Well I have an opportunity for you to make some money and be different in that we can really help people in their businesses."

[Older Guy]

Well, STEVE, you have no California Lenders License, yet you are based in this state and are a DIRECT lender. I think you are full of ****.

And it matters because you are soliciting business under false pretenses, and it's my job to break your balls.

I see all sites have trolls including this one...LOL

I really don't care what you think...

[FUNd]

i see all sites have trolls including this one...lol

i really don't care what you think...

What's your CFLL number? Who's the troll? Me or the guy trying to defraud others?

By the way, you spelled management wrong.

[Older Guy]

Dude..you're a waste of time and space...

I have programs....if some might work for people here, they have my contact information.

Otherwise go bother someone else.

[KTK]

Get out of a hole THEY are digging***

[FUNd]

Dude..you're a waste of time and space...

I have programs....if some might work for people here, they have my contact information.

Otherwise go bother someone else.

YOU are claiming to be a direct lender based in California with multiple offices and an UW team. WHAT IS YOUR CALIFORNIA LENDERS LICENSE NUMBER?

[Older Guy]

I CAN'T HEAR YOU VERY WELL...WHEN YOU SHOUT...Go ask the owner of Yellowstone if we bought a bunch of his loans last month?

[FUNd]

I CAN'T HEAR YOU VERY WELL...WHEN YOU SHOUT...Go ask the owner of Yellowstone if we bought a bunch of his loans last month?

Still stuck on that simple question huh? You could have a billion dollars and buy every last loan on the planet. Without a lenders license, you can't legally call yourself a DIRECT lender.

[admin]

Aside from all the back and forth, Steve on this forum when someone asks you to prove that you are legally able to lend, especially in California, you better be able to.

[FUNd]

I will apologize and take down every single reply if I can see one shred of proof these guys are licensed direct lenders. BTW I don't do all of this for fun. I have been the victim of scams myself in the past and although you can't call me a philanthropist, I care about this industry as a whole and scoff at people preying on people's trust.

If I am wrong, so be it. But if I can save someone from losing their client and hard work just once, it's worth it.

[FUNd]

I CAN'T HEAR YOU VERY WELL...WHEN YOU SHOUT...Go ask the owner of Yellowstone if we bought a bunch of his loans last month?

And one last thing, do you think that Issac Stern would appreciate you disclosing his private business transactions on a public internet forum?

[Older Guy]

Call my office and we'll be glad to answer all your questions....

[admin]

Call my office and we'll be glad to answer all your questions....

Steve, that's the wrong answer on here. Either you can lend legally or you can't. If you can, there should be no reason for a special explanation that requires a phone call.

[Older Guy]

Aside from all the back and forth, Steve on this forum when someone asks you to prove that you are legally able to lend, especially in California, you better be able to.

I am not going to have a battle of wits with trolls....if you want to call my office instead of posting sheit on a forum, I'd be glad to answer your questions. We'll give you that information...We don't need to prove to anyone where we rent space and how we operate.

Oh, I'm about to fund a loan with a guy who referred me here and he can post up about his experience with me and us.

[FUNd]

I am not going to have a battle of wits with trolls....if you want to call my office instead of posting sheit on a forum, I'd be glad to answer your questions. We'll give you that information...We don't need to prove to anyone where we rent space and how we operate.

Oh, I'm about to fund a loan with a guy who referred me here and he can post up about his experience with me and us.

You can ask for business on a forum and gather sensitive financial information from people you meet here like SSNs and bank statements, but for you to provide your required CFLL number to back up the claim you are direct is a bridge too far?

I think you need to rethink your position on this.

[admin]

If you're a direct lender it should be very easy to support that. The "I don't have to prove anything, just call me" line is not acceptable here.

[FUNd]

And as I sit here, thinking about the next day, how to keep things together and move this thing forward with my friends here on DF and my local colleagues, Sean drops the bomb on another loser, lying, snake trying to infiltrate our circle. Thank you.

image.jpg

[Zach]

I have my CFLL, so please let me know if you need any help. To the extent the law allows, I'll gladly let you place your deals through me