[LJH365]

I normally don't do 3rd positions but merchant insists as he has immediate need for upcoming trade show. I don't think I can get him what he wants, but I'm doing my due diligence and throwing it out here.

Notes:


He's looking for $35k loan for 7 months payback $43k, dailies around $290-300.

• Recent advance with On Deck $50k. 9 months left
• Recent advance with Rapid $40k. 12 months left
• Credit 650


Merchant does about $60k per month. in business 4 years. Medical equipment business.

Is this doable anywhere?

[NoBigDeal]

I normally don't do 3rd positions but merchant insists as he has immediate need for upcoming trade show. I don't think I can get him what he wants, but I'm doing my due diligence and throwing it out here.

Notes:


He's looking for $35k loan for 7 months payback $43k, dailies around $290-300.

• Recent advance with On Deck $50k. 9 months left
• Recent advance with Rapid $40k. 12 months left
• Credit 650


Merchant does about $60k per month. in business 4 years. Medical equipment business.

Is this doable anywhere?

PM'd you

[PaulCraig]

call me at 516-491-2286 I'm Paul with empire funding and ill try to get u a 3rd position on this.

[MikeC524]

Depending on how much he owes on the two existing advances and his daily ledger will determine if there's room. If assistance is needed on this file please contact me.

Mike@samsonfunding.com
347-492-1801

[HDF]

I normally don't do 3rd positions but merchant insists as he has immediate need for upcoming trade show. I don't think I can get him what he wants, but I'm doing my due diligence and throwing it out here.

Notes:


He's looking for $35k loan for 7 months payback $43k, dailies around $290-300.

• Recent advance with On Deck $50k. 9 months left
• Recent advance with Rapid $40k. 12 months left
• Credit 650


Merchant does about $60k per month. in business 4 years. Medical equipment business.

Is this doable anywhere?

Are the positions with Rapid and ONDK through you?

[mcaguru]

Reach-out to Cresthill Capital..offers in hours / double digit commissions / ISO's claim we are the shortest on stips!!

[Chambo]

I normally don't do 3rd positions but merchant insists as he has immediate need for upcoming trade show. I don't think I can get him what he wants, but I'm doing my due diligence and throwing it out here.

Notes:


He's looking for $35k loan for 7 months payback $43k, dailies around $290-300.

• Recent advance with On Deck $50k. 9 months left
• Recent advance with Rapid $40k. 12 months left
• Credit 650


Merchant does about $60k per month. in business 4 years. Medical equipment business.

Is this doable anywhere?

Funding behind Rapid can have DIRE consequences. Jeremy Brown has absolutely NO PROBLEM spending Dan Gilbert's legal fund on going after you

[Michael I]

Funding behind Rapid can have DIRE consequences. Jeremy Brown has absolutely NO PROBLEM spending Dan Gilbert's legal fund on going after you

yup and the empire guy, samson and cresthill got to be crazy to come on to public forum and say that they will stack on rapid to a merchant that already double funded on 2 a lenders

[mcaguru]

Which rapid ? lately a few players using that name? Jeremy should be more concerned about losing clients to similar name companies. Jeremy seems very nice met him a few months ago at a cafe in Arizona..Chambo i don't think your doing justice to Mr Gilbert and Mr Brown they both deserve a better character description then you are painting.

[WBLRP]

Does the client own any Real Estate? We can lend 3x's the deposits when RE is involved. We would originate up to 180k based on deposit history and go up to 70% CLTV. Client could pay off On Deck and Rapid and net the remaining funds.

Jibarguen@wbl.com or 707-284-3026

[LJH365]

no.

[LJH365]

yup and the empire guy, samson and cresthill got to be crazy to come on to public forum and say that they will stack on rapid to a merchant that already double funded on 2 a lenders

thanks for the heads up. I don't normally stack at all, hence my niavete.

[elijah.g]

Don't stack him with a D-paper lender. I can get you a third or potentially buy out one of the positions but he will need a COJ, so stacking addendum and it will be a hybrid program that collects a percentage of his deposits daily or weekly.

Let me know

Warmly,

Eli
718.926.5331
718.926.5331

[Cfairbank]

Which rapid ? lately a few players using that name? Jeremy should be more concerned about losing clients to similar name companies. Jeremy seems very nice met him a few months ago at a cafe in Arizona..Chambo i don't think your doing justice to Mr Gilbert and Mr Brown they both deserve a better character description then you are painting.

While I am sure they aren't thrilled about the other Rapids, losing customers doesn't put their capital at risk, the crazy stacks do -- think about it this way, Marcus: they give the merchant an 18 month deal at a 1.25 with a 2% origination fee, and then a stacker comes in with a 3 month, 1.45x, 10% fee and double dips after two months. That means that stacker is turning its capital NINE times before they turn theirs once (assuming the merchant isn't put out of business first, which is the most likely outcome) -- and the annualized cost of capital on the stackers deal that renews with the double dip? Over 610%, while the first position's annualized rate is 35%. Now explain to me why they, or any other first position lender, wouldn't put a ton of resources to STOP stacking.

And they aren't the only ones, there are several LARGE first position funders/lenders that are about to ramp their efforts to combat stacking as well. Even my company, while not in Dan Gilbert's ballpark when it comes to financial resources, raised and allocated significant capital (and resources) to fight this problem. Not only do we have a well known law firm EXCLUSIVELY engaged to address our stacked deals, but we have set aside capital that is explicitly allocated to go after funders (and other parties) that tortiously interfere with our contracts/fundings (i.e. stacked) and cause a deal to default -- and I know most of the stackers on this board have either received a letter from us or from our law firm about our stacking policy.

Regulation may not shut down stacking (even setting aside the clear breach of contract, my guess is that it will through the inability of the high rate stackers to support any form of ability to pay/suitability tests), but stacking is about to become a VERY expensive proposition. Especially once Rapid wins a case or two.

[mcaguru]

Carl

everyone sees things differently, I strongly suggest you contact the International factoring association and watch the video of Jeremy Browns chaired session Topic "MCA friends or Foe" Jeremy did a great job discussing the business model and how Rapid can help businesses with cash flow (loved it!! ), When Jeremy was done about 200 Factoring Participants started attacking MCA (at the Q&A) NOT at Jeremy personally (they understood that Jeremy is the real deal) and a dozen or so started shouting and screaming and other MCA players in the crowed they were describing MCA (I'm talking about Rapid style or breakout and all the guys equally) to be a horrible product and its killing entire factoring business and putting "clients under" and they were discussing FIRST POSITION LONG TERM DEALS HOUSES (NOT STACK) as a real enemy to the factoring business as well as the clients.

TO-DATE I have never seen someone describe a stack anywhere as bad the way the factoring executives (and some are Billion Plus in funding per year) were discussing the havoc an A paper MCA.

So yes Carl, Factoring companies look at a A Paper with the same eyes you see a 5th position funding group. (perhaps much worse). those who do not believe me take my challange and buy from the IFA the recording event. (its not about Jeremy he did a great job...it was the response from the Factoring World.

[Cfairbank]

Carl

everyone sees things differently, I strongly suggest you contact the International factoring association and watch the video of Jeremy Browns chaired session Topic "MCA friends or Foe" Jeremy did a great job discussing the business model and how Rapid can help businesses with cash flow (loved it!! ), When Jeremy was done about 200 Factoring Participants started attacking MCA (at the Q&A) and a dozens started shouting and screaming they were describing MCA (I'm talking about Rapid style of funding) to be a horrible product and its killing entire factoring business and putting "clients under" and they were discussing FIRST POSITION LONG TERM DEALS (NOT STACK)...

TO-DATE I have never seen someone describe a stack anywhere as bad the way the factoring executives (and some are Billion Plus in funding per year) were discussing an A paper MCA.

Marcus, what does that have anything to do with my previous post about the impact of a short term high cost advance stacked on a longer term, lower cost loan? If we give someone an 18 month loan at a 1.25 factor rate and you stack me and keep turning your capital, what do you expect to happen to my loan or to that business? How many companies can survive (much less thrive) on 600%+ capital that keeps turning for a year or more? Not very many, and that's why more and more lenders are and will increasingly allocate money towards addressing the stacking problem. And its also a reason why, in the broader industry, the only metric that will ultimately matter to outsiders is default rate on a CUSTOMER basis, not a dollar or unit basis -- you can keep turning them until they are driven into the ground, and be playing with the houses money by advance number 3.

[mcaguru]

I'll respond to that tomorrow. Got an appointment. I am back, I handle Business development, I cant discuss the legalities above my pay-grade), what I can tell you is if those returns are correct of 610% (sounds way to high! but you are a banker Carl ) I would imagine (I can be so wrong '))the companies your looking to go after probably have ALL the liquid capital to hire an ENTIRE FLOOR of the whitest shoes the country has to offer to protect them selves, since some of them are funding 8 Digits a months for a long long (long and long again) time, am i wrong do you think based on what you wrote the large High Risk Houses will ignore the scenario YOU painted?

[J.Celifarco]

I'll respond to that tomorrow. Got an appointment.

Marcus do you care who you step on in order to make a buck.. By that I mean both merchants and the other banks you stack on putting their capital at risk. The worst part of the whole things how you try to justify it with these analogies that have nothing to do with the situation that is being to discussed.. I just cant wait tiil you get hit with a law suit that shuts you up.. You brag about stacking like its the best thing since sliced bread and one day when someone sues you they will use every one of these insane posts of yours against you and your company.

[HDF]

I'll respond to that tomorrow. Got an appointment.

Yes, it's about time you got that looked at!
head-up-ass-580x300.jpg

[Funder Mark]

Yes, it's about time you got that looked at!
head-up-ass-580x300.jpg

We have my new background!!!

[mcaguru]

Marcus do you care who you step on in order to make a buck.. By that I mean both merchants and the other banks you stack on putting their capital at risk. The worst part of the whole things how you try to justify it with these analogies that have nothing to do with the situation that is being to discussed.. I just cant wait tiil you get hit with a law suit that shuts you up.. You brag about stacking like its the best thing since sliced bread and one day when someone sues you they will use every one of these insane posts of yours against you and your company.

I have never Bragged about a stack. what are you saying. We love A paper deals. at times a merchant needs funds and if his cash flow allows room for a short term deal we facilitate his needs.

[J.Celifarco]

I have never Bragged about a stack. what are you saying. We love A paper deals. at times a merchant needs funds and if his cash flow allows room for a short term deal we facilitate his needs.

you want to tell me you do a lot of A paper deals with your rates? is that really what you are trying to tell me? If it is I call Bull****
Also every time someone posts about needing a 2nd-5th position you post how your company is the best and the fastest and will pay double digit commissions, that is bragging about stacking.. Or are you making those posts when you company does not fund those deals, which is it cause it cant be both?

[J.Celifarco]

Yes, it's about time you got that looked at!
head-up-ass-580x300.jpg

and this sir is the best post I have seen in a long time

[mcaguru]

I was making a point, Speak to any CEO of a factoring company and they will talk about an A paper MCA company with the same hatred that A paper funders discuss the HIGH RISK HOUSES.

[J.Celifarco]

I was making a point, Speak to any CEO of a factoring company and they will talk about an A paper MCA company with the same hatred that A paper funders discuss the HIGH RISK HOUSES.

maybe but the A paper funder isn't knowingly breaching the factoring companies contract. Big difference