[lrodda]

First time I see a deal structured like this. Funder says they are going to take 20% of daily deposits . Merchant is in CA. Anyone heard of deals being structured like this? Apparently they are going to do bank login everyday...

[lrodda]

and its not a CC split

[Michael I]

like 4 years ago , haven't seen it in awhile

[John Galt]

Used to be very common at 25% years ago. Either CC or deposits..

[lrodda]

weird because same lender always gives me fixed daily. Said reason for the variable daily is because its in CA.

[Triton]

Who's the lender?

[lrodda]

Who's the lender?

pm'd

[Chambo]

LG funding does that. I've personally done deals like that at Yellowstone. TBB has done deals like that for me, and now I hear Cap Stack does them too

[mcaguru]

Mantis Head Mike M ( probably one of the sharpest MCA underwriters in the country) I believe is the one that taught LG Funding how to structure those deals.

We can structure those all day.

[KM_Superior]

First time I see a deal structured like this. Funder says they are going to take 20% of daily deposits . Merchant is in CA. Anyone heard of deals being structured like this? Apparently they are going to do bank login everyday...

We have funded deals like this except we did a weekly payment and took a fixed percentage of the average of the week’s deposits.

[Christian]

The CA detail makes this plausible so they can clean only avoid having a finance lenders license.

[lrodda]

The CA detail makes this plausible so they can clean only avoid having a finance lenders license.

Finally someone said it. lol

[mishatbb]

TBB does schedule of payments for seasonal businesses, setting it up from the get go and the merchant knows before signing what they will be paying and when (read: no need to login daily into their bank...). Really common for accountants, landscaping, construction in cold parts of the country, etc. Helps the merchant, and our defaults. Just need 12 months of banks.