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07-29-2016, 10:56 AM #1
- Join Date
- Apr 2015
- Location
- New York City & Florida
- Posts
- 82
ABLE Lending
Has anyone done business with Able lending out of Austin ,TX ?
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07-29-2016, 11:00 AM #2
- Join Date
- Sep 2014
- Posts
- 263
They had a broker program but shut it down -
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07-29-2016, 11:07 AM #3
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07-29-2016, 11:19 AM #4
- Join Date
- Sep 2014
- Posts
- 263
The got a new debt service provider capital source and the money provider does not want them to use brokers
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07-29-2016, 11:22 AM #5
- Join Date
- Jun 2015
- Posts
- 3,326
are they the guys were the merchant has to raise some money from family ?
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07-29-2016, 11:25 AM #6
- Join Date
- Jan 2016
- Posts
- 435
I think you are referring to streetshares, they aren't a huge fan of brokers either
https://streetshares.com/
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07-29-2016, 11:30 AM #7
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07-29-2016, 11:41 AM #8
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 732
Last edited by omegafund; 07-29-2016 at 11:44 AM.
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07-29-2016, 02:02 PM #9
- Join Date
- Apr 2015
- Location
- New York City & Florida
- Posts
- 82
Thank you for the information/ update on Able
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08-19-2016, 10:58 AM #10
- Join Date
- Apr 2015
- Posts
- 159
These guys don't get it... dumb model (require client to raise F&F) and they have very expensive money from hedge funds. We had about 5 deals working with them and they emailed us and said they were ending their broker program. They only paid 2% (they couldn't afford to pay much more), and we never got a deal done with them though we submitted a lot we thought might be a fit.
This company won't be around much longer.
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