[Lax101]

Hello all,

First post here. I own a moderately sized funding shop (2MM to 3MM / monthly) with a focus toward solutions for merchants vs. pulling as much commission as possible out of them. We are looking for a true line of credit program to offer our more qualified merchants. We have more than enough MCA, WC, SBA, factoring, and EF lenders on our network and are not looking to co-broker deals (direct lenders only please).

This type of product seems to be a rarity and the lenders that do them do not seem to offer ISO programs (Headway, Banks, ect.). We are signed up with BlueVine and a relatively pleased with their service but that product is more of a hybrid and there is not preliminary control over the offer process with the merchant. For all intents and purposes it is a hand off. I am sure there is a hidden gem out there that isn't readily apparent. If any one knows of any direct sources both collateralized and uncollateralized that take ISO's a reference would be much appreciated. (Not looking for stacked credit cards)


Thank you,

Eric S.
949-272-0160

[bdshaw]

Hi Eric, personally I've never heard of an unsecured line of credit of any size.
We offer factoring, p.o. refinancing and the hybrid, a combination of factoring and a MCA.
We don't request an immdiate handoff and pay the highest commission in the industry.
We don't want immediate handoffs from our broker but work together with them until they master our unique approach to making offers.
Please give me a good time to call.
Bob Shaw
Black Horse Credit
rshaw@blackhorsecredit.com
734-929-3800

[ridextreme]

This type of product seems to be a rarity and the lenders that do them do not seem to offer ISO programs (Headway, Banks, ect.).

LMFAO at banks not offering ISO programs.

If they don't qualify for a bank LOC, and they could use money for their business, they don't have any other choice.

[Lax101]

Not sure what's funny there. It seemed to be a very consice statement.

[Karen37a]

Lax. he (lol'd) Because If Banks were to offer lines of credit, which they do...merchants would go to the bank to get a line of credit.

The reason why the alternative lending industry was born is because a vast majority of small/mid size business cant/wont go to the bank , for various reasons.

And the more implied credit risk, the higher the rate, they cant lend % high enough to sustain profits( usury laws) so they do not lend at all.

As noted with a company that priced too low.

[tgabcmca]

Anyone have new suggestions? Always run into merchants looing for MCA alternatives. Hate to turn them away...deal is a deal!

Please don't say LQD......anything but that!

[jcoop]

ondeck

[Vfunding]

This topic comes up often in my office. A line of credit is the holy grail of credit facilities. What business owner wouldn't want a bag of money sitting on a shelf waiting to be used at any time? Over the years many lenders in this industry have taken shots at trying to develop a product with speed and approval rates of MCA's but with the features of a bank LOC. So far in my experience all of the products have come up short. The reason why is simple: the underwriting for alternative financing is based mostly on very recent cash flow as we all know. A client's ability to draw funds at any time (LOC) removes an underwriter's ability to review recent cash flow at that momemt to look for arising issues that can threaten the business. Looking at 4-12 months of bank statements and then extending a line of credit where the merchant does not have to reapply in order to re-draw is extremely risky. It's why most of the mca/loan products that have been introduced with a LOC feature have shorter terms and higher costs than term products... Most have come on and then off the shelves very quickly.

[WestCoastFunding]

Are you using the SBA Express LOC? The options for LOCs are plentiful if you're looking for something over $500K.

[Vfunding]

Or if you are can secure it with B2B AR.

[PMG]

We have a Business Line of Credit Product Funds Up To 150K
Qualification- No more than 30% of credit profile used.
FICO- 720 Preferred but we have funded down to 660
No major derogatory, no more than 6 inquires in the last 90 days
Go to creditchecktotal.com and get the tri- merger credit reports.

Please contact Latanya she handles our BLOC files.

Direct-407-219-6664
Cell-786-800-6273
Latanya@nebulabiz.com