Results 51 to 75 of 85
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03-21-2014, 06:30 AM #51
Stacking Madness
Yellowstone is no where near the biggest hopper in the industry...sure we do it but there are some companies out there that only do Grasshoppering.
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03-21-2014, 07:48 AM #52
- Join Date
- Jan 2013
- Posts
- 151
Don't be so confused WBL isn't even a true MCA its a loan product with personal guarantees and seriously hard asset backed. Why that justifies increasing the rate I don't quite get though.
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03-21-2014, 08:48 AM #53
I just experienced that with WBL....OMG! Never again! My customer got contract and was livid! $35K advance with a $60K payback. Needless to say we killed that deal.
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03-21-2014, 09:57 AM #54
just curious...whats the commission on a 1.90 Factor rate deal?
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03-21-2014, 09:59 AM #55
But wait, based on wbls website "WBL is committed to becoming the world's premier financier of local entrepreneurs everywhere."
Let's give it up to wbl and their premier rates and terms for customers! ......
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03-21-2014, 10:01 AM #56
- Join Date
- Dec 2013
- Posts
- 4,713
Last edited by mcaguru; 03-21-2014 at 10:03 AM.
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03-21-2014, 10:18 AM #57
lol..I am literally laughing out loud!!!
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03-21-2014, 10:42 AM #58
The marketing material they send out is 14%.
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03-21-2014, 10:50 AM #59
Wait, what I don't get is that their loans are secured against collateral. So why would they need to charge so much?
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03-21-2014, 11:05 AM #60
1.90 paying 14...thats insane...
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03-21-2014, 11:10 AM #61
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
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03-21-2014, 12:50 PM #62
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03-21-2014, 12:52 PM #63
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03-21-2014, 12:55 PM #64
Standard inexperienced behavior here. Young guns keep pushing the envelope, stretching the rubber band. Sooner or later it snaps, and then everyone tosses their inexperienced hands up wondering what happened?
To all the folks who think that regulators would never come into our space, and that "conversations" with Gov't authorities will never amount to much, because in the end, the merchant DID sign on the dotted line, only need to go back to 1999 and the dot com bubble and 2007 and the real estate bubble...or 1585 and the tulip bubble or 1929, or.....
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03-21-2014, 02:01 PM #65
- Join Date
- Jun 2013
- Posts
- 351
IIRC Rewards Network (and another similar business whose name escapes me) was at a 2.0 pretty much. You get $10,000 they take a fixed percentage of all Rewards Network sales until they get $20,000. They lost all of their market share on financing when MCA started to gain momentum and have pretty much stuck to their "marketing" business model.
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03-21-2014, 05:16 PM #66
Rewards Network is now Idine they are still around.
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03-21-2014, 05:19 PM #67
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03-21-2014, 06:21 PM #68
- Join Date
- Jan 2014
- Posts
- 283
I've worked with WBL a couple of times and their rates weren't bad at all. I got someone with a Payroll Tax Lien (and other issues) a 2nd position $50,000 @ a 1.39 6 month term. It was 12 points and 1.39 was the max. Are you sure it was them?
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03-21-2014, 06:30 PM #69
A payroll tax lien? Sheesh, that is some risk! The state DOES NOT PLAY when it comes to payroll taxes. They will come in and padlock the joint! Open payroll lien? the clock is ticking on that one...just a matter of time.
Anyone who funds open payroll liens is just a moron begging to lose everything
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03-21-2014, 06:36 PM #70
This basically sums up this 7 page thread:
2ndposition.jpg
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03-23-2014, 08:24 AM #71
Stacking Madness
That's too funny
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03-23-2014, 08:49 PM #72
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
How about this
47592559.jpg
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03-24-2014, 07:30 AM #73
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03-24-2014, 09:39 AM #74
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
That's the best one Ive seen. Thanks to you guys for summing up in two photos what our 8 pages of posts could not.
Andrew J. McDonald
Director of ISO Development
Yellowstone Capital LLC
1 Evertrust Plaza
Suite 1401
Jersey city, NJ 07302
PH - 347.464.0785
FX - 646.213.1790
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03-24-2014, 10:04 AM #75
Stacking Madness
Also, WBL is charging them a 1.90 which is normally for that company, but, they are not a fan of unsecured money, I can't say for sure, as they do offer unsecured loans now, but, their standard practice is to collateralized a loan 4 to 1... so if u have something with say, 100k in equity, they'll give it a liquidation value of say, 80k, which would make the guarantor qual for a $20k loan... absurd... I have had the non-pleasure of doing business with them, even got it in the kiester twice cuz I trusted a handshake... slimey ppl I tell u... also, they don't give a sh#t who the go behind, but God forbid u go behind them... I feel dirty just talking about them....
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