[DfrankFunder]

Hey guys just coming across a lot of files that have multiple advances . Does anyone know who could clean them up or help me find a home for them.


Thank you

[HDF]

If they don't particularly like the home they are living in, call WBL.

[DfrankFunder]

I have herd good things about Evolution Capital Group and Breakout Capital also Dan Page ... Thanks Guys !!

[TStein]

If they don't particularly like the home they are living in, call WBL.

*golf clap*

[WestCoastFunding]

If they don't particularly like the home they are living in, call WBL.

So I literally laughed out loud.

[RickyR3712]

If they don't particularly like the home they are living in, call WBL.

haha pretty funny . i wonder what their defaults numbers are like and how many people actually lost their properties.

[FundingCzar]

If they are A paper with only 2 advances I would start with a true term lender like Funding circle. If not I would try Breakout, Powerup, WBL. Dan from Funding Strategy Partners has a good consolidation program as well.

[John Galt]

Caveat Emptor with Powerup, I had a 100k account with them that they later funded a second and third time for 120K and refused to pay me as ISO. Also I thought Breakout was taken over(?) Actually had to turn Powerup over to a collection atty.

[RickyR3712]

Caveat Emptor with Powerup, I had a 100k account with them that they later funded a second and third time for 120K and refused to pay me as ISO. Also I thought Breakout was taken over(?) Actually had to turn Powerup over to a collection atty.

did you get your money or still crying over it ?

[dpFund]

did you get your money or still crying over it ?

Not sure why you think it is funny that a broker got burned by a lender and had to hire a collection agency?

[RickyR3712]

Not sure why you think it is funny that a broker got burned by a lender and had to hire a collection agency?

i never said its funny . It was a serious question . All of us have been burnt by lenders and moved on as we were told that we will never win . so hence my question seeing if he was still crying /not getting over it or he was successful and now we brokers can open the floodgates and sue the lenders that did it to us .

[John Galt]

Not yet and a 12K commission is worth fighting over (as I am). Power up (Charlie Mayo) are scams. Nature of this beast. Used to it and sue at will.

[Zach]

If they don't particularly like the multiple cash advances they are suffering from, call us at WBL.

[DfrankFunder]

Thanks HDF - although i believe some merchants have potential to have a complete ReFi rather then going to WBL .... I am just looking for a lender who has participated in these type of files to see if we can get them done.

[Kevin Henry-Seacoast]

Thanks HDF - although i believe some merchants have potential to have a complete ReFi rather then going to WBL .... I am just looking for a lender who has participated in these type of files to see if we can get them done.

We have been successful getting some of theses done where the Company was factoring and took out multiple advances. In most cases the factor was only financing the AR. We were able to finance the AR at better advance rates and include other assets such as inventory and machinery. The added liquidity along with our cheaper rates enabled the Companies to exit the cash advances and save a ton of money.

[Sachip24]

IF they have strong Financials Dan Page is the man you want to speak with. His program when it comes to a consolidation blows away anything else on the market. his handle on here is dpfund.

[dpFund]

IF they have strong Financials Dan Page is the man you want to speak with. His program when it comes to a consolidation blows away anything else on the market. his handle on here is dpfund.

Thank you for the kind words!

Yes, we do a lot of consolidations. Not because we set out to do them...but moreso that is where the market seems to be and what is brought to me.

Feel free to reach out DFrankFunder if you would like to discuss.

I'm on the phone doing client interviews a lot (I personally interview every client we fund as part of our three step pre-qual process) so if you cannot reach me by phone, sometimes the best way to get through is to grab a day/time from my scheduler (http://meetme.so/DanPage).

Best,

Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com

[DfrankFunder]

Also is CAN Capital done funding deals - Word is they have stopped ?

[Chambo]

Also is CAN Capital done funding deals - Word is they have stopped ?

Not 100%, but slowed things down to a small trickle

[J.Celifarco]

Not 100%, but slowed things down to a small trickle

I have heard a lot of rumors about this but I dont work with them so I didnt know for sure.. Does anyone know why?

[HDF]

Sounds a little like some window dressing time of the portfolio ahead of a coming securitization event?

[DfrankFunder]

No Clue a lot of talk that they are backing out - Same thing few months back with Windset

[Cfairbank]

To clear things up (from previous poster): we (Breakout) have not been taken over -- candidly, we are currently taking a more cautious approach towards several position consolidations (with multiple high risk companies), and focus a lot more of our efforts on our A-paper products (including, our monthly pay product). We are funding more than ever (maybe fall-out from CAN?), and we have no concerns about funding constraints.

We are competitive with CAN on pricing with terms out to 24 months, and still are aggressively pursuing the A-paper buy-outs that want to access cheaper capital or our revolving credit feature of our products. So anyone having trouble with current or prospective CAN customers, we'd be happy to help! We also will underwrite consolidations. However, in the current funding environment, if there are multiple high risk players in the capital stack, we will take a cautious approach in our underwriting. But regardless, we still offer a zero net requirement.

Didn't mean to hijack the thread; just wanted to clear that up. And we do appreciate all the posters that proposed Breakout as an option.

[WestCoastFunding]

To clear things up (from previous poster): we (Breakout) have not been taken over -- candidly, we are currently taking a more cautious approach towards several position consolidations (with multiple high risk companies), and focus a lot more of our efforts on our A-paper products.

So what you're saying is you'll focus on clients who are most likely not going to stack again, correct? I can't blame you. It's amazing how many merchants come to you with 5 advances, thinking they would be appealing to consolidation companies. "This is a great opportunity for the lender" is something I hear way too often from merchants seeking consolidations. Then I look at their statements and they've been missing a bunch of payments each month. Real appealing.

[anonymous]

So what you're saying is you'll focus on clients who are most likely not going to stack again, correct? I can't blame you. It's amazing how many merchants come to you with 5 advances, thinking they would be appealing to consolidation companies. "This is a great opportunity for the lender" is something I hear way too often from merchants seeking consolidations. Then I look at their statements and they've been missing a bunch of payments each month. Real appealing.

What's even more amazing are the merchants who you successfully consolidate 3-5 positions for (literally saving their business in many cases), who come back in the same position a few months later.