[Phoenix]

Has anyone done business with Able lending out of Austin ,TX ?

[michaelh]

They had a broker program but shut it down -

[Sean Cash]

They had a broker program but shut it down -

do you know why?

[michaelh]

The got a new debt service provider capital source and the money provider does not want them to use brokers

[Michael I]

are they the guys were the merchant has to raise some money from family ?

[nrh1lp]

are they the guys were the merchant has to raise some money from family ?

I think you are referring to streetshares, they aren't a huge fan of brokers either

https://streetshares.com/

[Sean Cash]

I think you are referring to streetshares, they aren't a huge fan of brokers either

https://streetshares.com/

no it's Able that wants their merchants to borrow money from their family. I think streetshares is just a normal loan to veteran owned businesses.

[omegafund]

Has anyone done business with Able lending out of Austin ,TX ?

Slow as molasses 30-45 days in a deal.
but they go up to $1M no hard collateral
Only paid hAlf a point. Wants backers in each deal from family or other investors
Closed off type 1 brokers

Nothing special you did not miss out

[Phoenix]

Thank you for the information/ update on Able

[helpinghand]

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.