Results 1 to 5 of 5
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06-09-2016, 02:44 PM #1
- Join Date
- Nov 2014
- Posts
- 438
LoanMe now offers 0.00% Interest Rate Loans!
Introducing an all NEW LoanMe product:
"FIXED PAYBACK LOAN"
LoanMe now offers an additional product that combines the benefits of a merchant cash advance, short term, fixed payback product; while keeping the same Monthly Payments borrowers love.
Fixed Payback Loan.jpg
***LoanMe does not charge borrowers the origination fee upfront. This fee is deducted before funding. For example on a $10,000 "Tier A" Fixed Payback Loan, the net funded amount would be $8,600 after the 14% ($1,400) fee.
- The Fixed Payback Loan is an additional product. LoanMe still offers our regular Small Business Loan
- Fixed Payback Loan is available in 29 out of the 31 states LoanMe lends in (NJ, OR are excluded)
- Same broad acceptance and eligibility applied to this new loan program
- Partner commissions are the same and not lower for this program
For a list of the states or more information on how this product compares to LoanMe's regular Small Business Loan Product click on the link below:
www.loanme.com/smallbusiness/RatesLoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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06-09-2016, 04:21 PM #2
so basically, they are paying the vig up front?
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06-09-2016, 05:02 PM #3
- Join Date
- Nov 2014
- Posts
- 438
No. Borrowers do not pay anything up front. LoanMe deducts the origination fee from the Loan Amount before funding.
Example for Tier A (12 month term):
$50,000 Loan Amount - 14% fee ($7000) = $43,000 net funded to the borrower.
The fixed payback amount is just the $7,000. No interest accrues.
So in MCA terms this would be a 1.16 factor. Partners still get their full commissions.LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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06-09-2016, 05:14 PM #4
- Join Date
- May 2015
- Location
- Long Island
- Posts
- 247
How do you guys feel about other positions? Also how does a current LoanMe customer stand with this product, if they already have one of your traditional products in place?
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06-09-2016, 05:33 PM #5
- Join Date
- Nov 2014
- Posts
- 438
LoanMe will take 2nd position if the borrower falls into our Tier A, B+ and B tiers. If they fall into Tier C, D & E or have more than 1 outstanding balance we will deduct their total outstanding amount from our offer.
If a current LoanMe customer has any of our products they must pay off their first loan with us before re-applying.LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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