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07-12-2016, 07:15 PM #1
- Join Date
- Apr 2013
- Posts
- 359
Merchant has $60K Kabbage Balance. Who can fund 24 mths without paying off Kabbage
Merchant won't sign anything less than 24 mths. But lenders who have 24 mths require Kabbage be paid off.
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07-12-2016, 07:22 PM #2
LoanMe maybe
Zachary Ramirez CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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07-12-2016, 07:52 PM #3
- Join Date
- Jun 2015
- Posts
- 3,325
That's a tough one
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07-13-2016, 10:23 AM #4
There are a few companies that go that long as long as the deal merits it. I have received a few 24 month approvals with On Deck. I have also received a few 21 month approvals with GRP Funding. Depending on how the loan with Kabbage is structured, you may or may not need to pay them off. More often than not however, you probably will be required to pay off Kabage, but worth the shot. Try On Deck, and try GRP. If that doesn't work, then depending on qualifications, you can try going a bit more of a traditional route with one of the ABL guys on this forum....they will require Kabbage to be paid however. If you need any recommendations or referrals to any of the companies mentioned then give me a shout.
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07-13-2016, 11:09 AM #5
- Join Date
- Dec 2013
- Posts
- 4,713
I have heard a thousand times from my ISO that merchant wont sign anything less then 18M or etc...then like a week later (since i chat with my isos all day) what ever happened to that file and he tells me he went to another lender and took a 6 month or etc).
Last edited by mcaguru; 07-13-2016 at 11:12 AM.
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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07-14-2016, 11:05 AM #6
^^this exact scenario a dozen times over.
If they need the money they will eventually accept what the terms are for obtaining it. Pie in the sky deals are usually a lot of extra work and have the potential to die at final funding if the underwriter hears or sees the slightest little detail they didn't like. It's in your interest to wait this one out or let it go, trying to process it under those terms is very unlikely.
The best way to try and arm twist a little would be to accept a small loss of profit on the deal to just offer them the best realistic package you can get for them. ---and make it clear you are eating your own money to do it.
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07-16-2016, 03:07 PM #7
- Join Date
- Apr 2015
- Posts
- 20
Here at Black Onyx Of America we can go up to 3 years on a monthly term and not payoff Kabbage it would be a line of credit or a hedge fund deal we are a direct lender drop me a line 843-796-4039 or cell 973-980-8000 any time even on weekends
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