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06-20-2016, 03:38 PM #1
- Join Date
- Mar 2016
- Posts
- 908
HUge Shoutout to Zach from WBL
Guys, i have never done a deal with WBL, and this isn't going to be the last.
I want to give to Zach and the entire WBL team for doing an outstanding job on funding my deal.
115k 1.37 with a 6 month term. Doesn't get any better than that. Zach and the Entire team have been working non stop day in and day out on this file. Every single red flag was turned into a green one.
WBL is happy, i am happy, and most importantly the merchant is happy. The merchant is already asking me about renewal!
Who ever doesn't work with Zach and his team is missing out BIG TIME!!! Sign up with them!
Look forward to meeting you in person when i see you in Jersey! Have a good rest of your day guys. I officially love Mondays now.
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06-20-2016, 03:47 PM #2Karen37aGuest
Great Lmonus ...Now your other post that says you are 100% Direct Lenders can change to 99.9999% wtg !!
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06-20-2016, 03:56 PM #3
Actually CFG Merchant Solutions was the lender on this file, and I consolidated them and paid their balance off. From a technical standpoint they brokered this one to us, however they were originally taking payments and wanted to payoff/consolidate their own balance.
And heck yes Lior, we worked our butt off for that one. Let's get him round two ASAP ;-)Zachary Ramirez CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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06-20-2016, 03:59 PM #4
- Join Date
- Mar 2016
- Posts
- 908
Zach, Round 2 starts tomorrow. ACH form is being filled out as we speak.
Amazing job dude. Lets keep it going. Squad going ^^^^^^^
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06-20-2016, 03:57 PM #5
- Join Date
- Mar 2016
- Posts
- 908
LMAO that is correct. When i get a merchant direct who is looking for 115k with 4 existing positions ( One being mine ), there is nothing more that i can do but to outsource the deal. Gotta love having a source for every single type of deal.
Everything is fundable!
Regardless, Thank you Karen
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06-20-2016, 03:59 PM #6
how much real estate did he have to sign away
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06-20-2016, 04:07 PM #7Zachary Ramirez CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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06-20-2016, 04:19 PM #8
- Join Date
- Dec 2013
- Posts
- 4,713
My grandfather said you want to get somthnig done go to a busy man! Zach deff a busy man!
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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06-20-2016, 04:46 PM #9
- Join Date
- Jul 2014
- Posts
- 1,746
A SIX month 1.37 real estate backed loan for 115k and you just said "it doesn't get any better than that"? 74% APR for a fully secured loan?!? I just choked on my chicken bowl.
I think we all know by now that Zach is the king billionaire shark of the collateralized MCA industry. I was at a party this weekend at his house at 1 Ocean Drive in Malibu and the caviar, cocaine buffet, and Lamborghini races up and down his private street were off the hook. Thanks Zach!Last edited by FUNd; 06-20-2016 at 04:52 PM.
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06-20-2016, 04:54 PM #10John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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06-20-2016, 06:29 PM #11
- Join Date
- Jul 2014
- Posts
- 92
I believe this loan would actually be 117% APR... pretty brutal. Still, the upside would have to be astronomical for me to give 100k to someone stacking 4 daily payments together. Maybe there were perfectly logical reasons to take so many advances simultaneously, but in all likelihood this person is addicted to debt and a ticking time bomb.
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06-20-2016, 06:40 PM #12Zachary Ramirez CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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06-20-2016, 06:41 PM #13
- Join Date
- Jul 2014
- Posts
- 1,746
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06-20-2016, 06:44 PM #14
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Last edited by Cfairbank; 06-20-2016 at 06:48 PM.
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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06-20-2016, 08:19 PM #15
- Join Date
- Jul 2014
- Posts
- 1,746
Thanks Carl. Everyday I feel more like and more like a used car salesman, but at least their customers get something to drive off the lot, ours just get the money sucked out of their account faster than they can use it. No wonder the feds and states are all over this industry. Predatory is an understatement. I have information from my bro who is a well connected attorney that knows some very important lawmakers. All I can say is a lot of you people patting yourself on the back for being the worlds greatest entrepreneurs and salespeople better start polishing your resumes instead of polishing the rims on that leased c-class Benz.
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06-20-2016, 08:52 PM #16
- Join Date
- Jul 2015
- Posts
- 1,202
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06-20-2016, 04:43 PM #17Karen37aGuest
Yeahhh Drinks on you ! ( I am kidding with you, glad you got your deal done and helped out a merchant) If I dont fund my 2 100k deals in a day or so I am going to have to run to Marcus and he loves me so.
adding/editing ****like a sisterLast edited by Karen37a; 06-20-2016 at 04:49 PM.
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06-20-2016, 06:51 PM #18
- Join Date
- May 2014
- Posts
- 187
With more and more merchants stacking this is a great option for those who need to free up their daily cash flow that is going toward daily multiple daily payments, now he has some breathing room with 6 months instead of 3. A lot of these merchants want to consolidate, but few qualify for Funding Circle/ Fundation programs, the WBL product is a great alternative for this type of merchant.
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06-20-2016, 07:17 PM #19
- Join Date
- Apr 2016
- Location
- Miami Beach
- Posts
- 49
HUge Shoutout to Zach from WBL
Next time I want invites to the Malibu party
Carlos Corona
Managing Partner
Rise Up Capital
66 W. Flagler St, 9th Floor Miami, FL 33130
(727) 291-0972 | hello@riseupcapital.com
https://riseupcapital.com
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06-21-2016, 11:09 AM #20
- Join Date
- Mar 2016
- Posts
- 908
Everybody is talking about APR this APR that. The merchant got what he wanted. Paid off advances, saved a buck or two and is turning this 115k at a rate of 300%. Why does 150% APR matter at this point?
The merchant got what he wanted, WBL funded a deal, and we got paid commission. DOESN'T GET BETTER THEN THAT!
Don't hate, Appreciate. Lets all get back to work and close more deals.
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06-21-2016, 12:30 PM #21
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Not knocking WBL at all -- merchants that get themselves so deep in a hole with multiple stacks have very few options -- and Zach provided what may have been the only lifeline available.
The problem that so many people don't seem to get in this industry is where does this merchant go from here? Whether it is a 6 month 1.37x or a 3 month 1.45x, the margins and growth rate of a business would have to be insane to even break even on multiple renewals (not even taking into account that most funders double dip on each renewal) -- and that's where APRs or effective APRs are very meaningful. You saved the merchant from a likely bankruptcy, and kudos to you and Zach on making that happen -- I think it's great. Now you should address the hard part -- getting them on sustainable funding that enables them to operate a profitable business. Firms that don't get (or don't care about) that next step will not make it through the inevitable market shake-out and won't have a leg to stand on when regulation comes into place.Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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06-21-2016, 02:07 PM #22Karen37aGuest
I bet money that that merchant stacks you again. I hope he doesn't.
I talked with a guy who had 6 advances some crazy daily payment amount....40-57k. And he was factoring receivables
I said to him, Do you realize you are taking out advances to pay back advances? And he replied.."have you ever heard of the saying ...no sh*t Sherlock?"
I asked him if he really wanted me to help him, make a plan to get out of this. I called him once then decided he is just a big waste of time...Something called Next!
Wonder if he is still in business...maybe ill call again.
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06-21-2016, 02:54 PM #23Zachary Ramirez CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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06-21-2016, 02:27 PM #24
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
These merchants are smarter than you think. They have all the funders playing musical chairs with him and he'll have the last laugh when the music stops and the funders realize that the chairs are all gone.
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