Results 1 to 6 of 6
-
09-28-2016, 05:17 PM #1
who's doing the best consolidations nowadays?
anyone doing them not maxing out at 100k or 150k, no limit on positions paid or amount netted? anyone accepting them and actually making offers?
Anthony Diamond
Underwriter
-
09-28-2016, 05:33 PM #2
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Yes, yes and yes
Max limit is $2MM
We have one at funding right now for $2MM and three more $500k+ in underwriting at the moment.
Monthly payment
12-30 month term, with early payoff at six months or later (no fees or interest, client just pays remaining principle).
No requirement to net any cash
Theoretically...no limit on the number of positions we will consolidate (I have consolidated eight positions), although I am going to look hard at why someone ended up with so many positions. :-)
My primary driver for pre-qualification is NET income (after all expenses and owner draw). We need to be sure the client can afford the monthly debt service, with comfortable margin left over.
Feel free to reach out if you are interested in discussing.
Best,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
-
09-28-2016, 05:48 PM #3
- Join Date
- Nov 2013
- Posts
- 600
-
09-28-2016, 10:30 PM #4jotucker1983Guest
I personally haven't had that much traction with "consolidations" because, usually merchants who are requesting the consolidations are already too deep in the water, with the stacks harming their cashflow. They usually have NSFs, Overdrafts, and Negative Days through the roof and nobody will touch them.
In terms of funders/lenders doing consolidations, there's a ton of people out there:
- Some call their programs "consolidations" but they really function like a regular pay-off has always functioned, where a funder will pay off another funder's balance as long as the merchant nets 50% - 65% of the funds.
- Some are doing more real "consolidations" without requiring the merchant to net anything.
But my reality has been that merchants requesting consolidations are already deep in the water and can't get approved anywhere due to the high amount of NSFs/Overdrafts that have resulted from the stacks.
-
09-29-2016, 04:09 PM #5
- Join Date
- Sep 2016
- Posts
- 6
WBL
Joseph at 2121-220-6009
-
09-29-2016, 07:37 PM #6
This is exactly the situation where WBL's product can be a viable option for your borrowers. If they have unused, inefficient equity in any real estate they (or a friend) own, we can structure a consolidation loan to pay off their multiple advances. Even with significant NSF and Negative Daily activity in the bank accounts, we can still consolidate many merchants and throw them a lifeline.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
Similar Threads
-
Who's doing consolidations?
By ADiamond in forum Merchant Cash AdvanceReplies: 44Last Post: 05-09-2016, 04:46 PM -
Consolidations With NO ( ZERO ) Net Requirements
By Bank in forum Merchant Cash AdvanceReplies: 27Last Post: 04-04-2016, 08:49 PM -
Who is funding Canada nowadays?
By JSL23 in forum Deal BinReplies: 3Last Post: 01-15-2016, 10:30 AM -
MCA Consolidations
By dpFund in forum Merchant Cash AdvanceReplies: 0Last Post: 09-16-2015, 01:05 PM -
consolidations
By mkarow in forum Merchant Cash AdvanceReplies: 1Last Post: 06-03-2015, 09:50 AM