[Cfairbank]

This is my last contribution to this discussion: again, rate is not the problem -- I get the risk of the high risk space, and we've done some tests to see if we can disrupt that space with our product. If folks weren't cycled through renewals, we wouldn't even be having this discussion -- paying 1.45 one time for something that will drive revenue or to help build credit to be able to qualify for more sustainable financing is completely legitimate. But that's not the way this space works, from the A to D players -- the cost of acquisition means folks try to keep their customers regardless of whether they can get something better. The role of the high risk segment should be (a) one time higher risk deal that needs to be done quickly or (b) as a bridge to better capital. Otherwise, it creates debt traps and it will end up with the same result of the pay day space. If a high risk player had a lower cost product that they graduated people to, they could build a great, sustainable business (without all the BS that is included in high cost capital such as COJs or crazy definitions of default)

I am not saying we are perfect, but our main goal whenever we get someone onto our books is to make sure the capital makes sense for them -- we will do what we can to improve the business's prospects of accessing cheaper or the right form of capital, either through us or lower rate lenders. If our product doesn't make sense up front, we won't make an offer. Once they are on our books and it's a higher cost deal, if we can't graduate them to sustainable capital we won't keep cycling them.

[HeatherF]

I don't usually come on and get in the "tit for tat' that happens on this site, but I will help defend Carl. Breakout Capital and Carl have always demonstrated to me both in our verbal conversations and as Elevate being a referral partner of Breakout; they are trying to break the cycles these clients get in... Elevate and Breakout are very like minded but attacking different sides of the " High risk" trap... Elevate has tier structures that move clients out of the high cost and short terms, Breakout helps with consolidating. We need more people who see the pitfalls of high risk to step up and not just come in and create another stacking company or look for the quick commission and put the merchant in another bad situation.


Heather Francis
CEO
Elevate Funding
888-382-3945
heather@elevatefunding.biz

[Michael I]

I don't usually come on and get in the "tit for tat' that happens on this site, but I will help defend Carl. Breakout Capital and Carl have always demonstrated to me both in our verbal conversations and as Elevate being a referral partner of Breakout; they are trying to break the cycles these clients get in... Elevate and Breakout are very like minded but attacking different sides of the " High risk" trap... Elevate has tier structures that move clients out of the high cost and short terms, Breakout helps with consolidating. We need more people who see the pitfalls of high risk to step up and not just come in and create another stacking company or look for the quick commission and put the merchant in another bad situation.


Heather Francis
CEO
Elevate Funding
888-382-3945
heather@elevatefunding.biz

does elevate offer early payment discounts ?
when you renew do you double dip or add on ?

[mcaguru]

does elevate offer early payment discounts ?
when you renew do you double dip or add on ?

Heather hats off to both, i respect anyone darting capital at merchants, I only peeped up because Carl spoke out against Short high factor rates and wanted to know if what i saw was correct (listen i see fake bank statements ALL the time time and perhaps someone evil looking to harm Carl and his reputation as an outspoken individual of subprime Funding showed me a FAKE1.44 under 115 days with an origination fee and a fixed daily re-payment)...

[HDF]

Heather hats off to both, i respect anyone darting capital at merchants, I only peeped up because Carl spoke out against Short high factor rates and wanted to know if what i saw was correct (listen i see fake bank statements ALL the time time and perhaps someone evil looking to harm Carl and his reputation as an outspoken individual of subprime Funding showed me a FAKE1.44 under 115 days with an origination fee and a fixed daily re-payment)...

The GURU in full retreat. Talking out of his ass again and again.

[mcaguru]

The GURU in full retreat. Talking out of his ass again and again.

example my pal...? feel free to call me 917 521 6528...

[HDF]

example my pal...? feel free to call me 917 521 6528...

What's your office number?

[HeatherF]

does elevate offer early payment discounts ?
when you renew do you double dip or add on ?

Here is what we do that is different

We do allow for early payment discount- should the client not default on their agreement
We have tier structured funding- based on tier we require paybacks up to 85% ... this will be Refinanced
We have a product called Flex Funds for clients - that after 3 weeks of successful payments they can add on up to 30% of initial funding- with no change in payment remit ( % or daily remit
We do weekly adjustments for our daily remits (allows the clients to have fluctuation in cash flow without risking NSF issues)
We do not charge fees of any kind (outside the cost of funds)
We do not file COJ
We do not Pull credit


We have clients that are under renewals with us that are on 8 month terms at 1.32 factor rates. So we do work the clients out of the trap... I actually wrote a letter of recommendation for a merchant so that BFS would consider him for funding and that he could be eligible for the longer terms and lower rates that they provide.

[mcaguru]

This is my last contribution to this discussion: again, rate is not the problem -- I get the risk of the high risk space, and we've done some tests to see if we can disrupt that space with our product. If folks weren't cycled through renewals, we wouldn't even be having this discussion -- paying 1.45 one time for something that will drive revenue or to help build credit to be able to qualify for more sustainable financing is completely legitimate. .

Carl, i hear you the issue that the free market folks will say is when does it end??, meaning you are clearly saying its legitimate sometimes for a 1.4+ rate (and in fact under the right circumstances actually funding at those rates!) whats if tomorrow Warren Buffets daughter with Melinda Gates put together a company and a think tank group of the top economic professors and decide nothing over a 1.11 should be acceptable and throw a billion at the project proving the case and (also funding merchants) Does Carl at Breakout Capital now need to follow the findings ? After all they will show with graphs and charts how a breakout or ondeck product anytime over 1.20 is doing harm?!

My point is for evry Carl pointing at a High Risk funder there is a Garl or a Tom or Melinda out there that will be pointing at a breakout capital kind of company saying its unacceptable to fund your product in your manner ..