Results 1 to 16 of 16
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06-01-2016, 06:23 PM #1
- Join Date
- Nov 2013
- Posts
- 600
Need a home for LOC referrals
Greetings,
Ive been getting a lot of requests for true LOC products, anyone on here signed up with Kabbage or the like that I could submit under? Kabbage is not accepting any new ISO's so thats out of the equation. Also, BlueVine is limited up to $30k with 2-4% interest a week on open balance.
Also, please do not try to sell me on treating MCA renewals like a LOC. I need a product that merchant are not paying MCA rates (1.40+), with monthly payment options and can truly drawdown on principal paid.
Any and all help is appreciated.
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06-01-2016, 06:26 PM #2
- Join Date
- Jun 2015
- Posts
- 3,326
Direct capital
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06-01-2016, 06:33 PM #3
- Join Date
- Nov 2013
- Posts
- 600
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06-01-2016, 07:18 PM #4
- Join Date
- Mar 2015
- Location
- Los Angeles
- Posts
- 34
Need a home for LOC referrals
Breakout does LOC, it's basically an add on, but essentially the same thing. Will occasionally do monthly.
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06-01-2016, 07:24 PM #5
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Need a home for LOC referrals
LTF, if your clients have collateral such as accounts receivable or finished inventory we would be happy to help even if it's for a clients needs in the future.
Bob Shaw
rshaw@advancecredit.com
734-929-3800
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06-02-2016, 08:10 AM #6
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,509
FCF,
We are Seacoast Business Funding, a division of Seacoast National Bank. We offer flexible working capital solutions in the forms of factoring and asset based lines of credit. I would be happy to schedule a call to go into more detail.
Best,
KevinKevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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06-02-2016, 01:23 PM #7
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- Jun 2015
- Posts
- 3,326
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06-02-2016, 03:31 PM #8
- Join Date
- Nov 2013
- Posts
- 600
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06-02-2016, 03:32 PM #9
Try deal struck or a factoring company for more of a bank LOC
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06-02-2016, 03:53 PM #10
- Join Date
- Nov 2013
- Posts
- 600
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07-05-2016, 06:46 PM #11
- Join Date
- May 2016
- Location
- San Francisco & New York City
- Posts
- 75
With regard to BlueVine, I thought I'd clarify a few things in response to FCF Fund's post. Seems like there might have been a slight misunderstanding / miscommunication on terms.
We can extend revolving lines of credit up to $100,000 and our rates are 0.5% to 1.2% per week (or 2% to 4.8% per MONTH) only paid on the DRAWN amount...not on the open balance. Additionally, because there are no prepayment fees on our LOC, our clients tend to draw down and prepay multiple times over the 6-month term.
FCF Fund is correct about Kabbage not accepting new ISOs. I'd be happy to sign you all up with BlueVine, however.
✉ partnerinquiry@bluevine.comLast edited by matt.estes; 05-10-2017 at 04:34 PM.
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08-11-2016, 05:55 PM #12
- Join Date
- Jul 2015
- Posts
- 168
Lendvo.com we work with Digital Businesses (E-commerce, any business that has a website and does some amount of sales through their website, or if their website shows up in google for searches for them) Emaill us: Support AT Lendvo.com and we'll get you setup....we pay good commissions not like the 200 bux you get from Kabbage or PayPal working capital!
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08-12-2016, 11:12 AM #13
- Join Date
- Jan 2014
- Posts
- 1,380
try Deal Struck monthly payments can go out up to 5 years i think it is.
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08-12-2016, 11:25 AM #14
I think the reason your client is requesting a LOC is because these merchants are getting calls daily from MCA brokers lying to them saying "Our program is better than a cash advance, it's a line of credit" just to get their app in.
Either your client needs money now, or he doesn't. If he doesn't need to take money now and just wants an open LOC, how is that going to benefit you now anyway?
On Deck usually has a small LOC option on the bottom of their approvals.Last edited by ridextreme; 08-12-2016 at 11:28 AM.
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08-12-2016, 01:11 PM #15
- Join Date
- Dec 2015
- Location
- Costa Mesa
- Posts
- 234
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08-12-2016, 01:31 PM #16
also FWIW, if you do find a true LOC program (or long term monthly payment loans), you make peanuts on it. But at least the customer is pleased and satisfied (someone gets closed on every sale. Sometimes the customer is the one doing the closing.)
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