[nass15]

Currently, have an offer from a lender $250K at a 1.15 BR 12 months.

Then $300k at a 1.24 BR 12 months

Merchant considers this too expensive.

Any Direct Funders who can compete?

Please reach out 646 768 9718

I need this deal closed before the 27th!

[GMFunding]

These type of posts require more information such as SIC, revenues, credit profile, location, time in business. That said, those rates are very hard to come by for 12 Months, I'd suggest looking into a term program like Funding Circle who starts in the single digits for 12 months.

[kpeng]

I would suggest they seek a bank loan.

[nass15]

SIC, revenues, credit profile, location, time in business. That said, those rates are very hard to come by for 12 Months, I'd suggest looking into a term program like Funding Circle who starts in the single digits for 12 months.

Taxi Service
Credit 720
NYC
TIB 23 years

[Yankeeman07]

Currently, have an offer from a lender $250K at a 1.15 BR 12 months.

Then $300k at a 1.24 BR 12 months

Merchant considers this too expensive.

Any Direct Funders who can compete?

Please reach out 646 768 9718

I need this deal closed before the 27th!

There are times you need to have a come to Jesus Meeting with merchants and explain that we are not the bank.
That being said, are they willing to go thru the SBA Process, which is at least 30 days if they qualify.

[FCF Fund]

SIC, revenues, credit profile, location, time in business. That said, those rates are very hard to come by for 12 Months, I'd suggest looking into a term program like Funding Circle who starts in the single digits for 12 months.

Taxi Service
Credit 720
NYC
TIB 23 years

1.15 for unsecured is obviously a great deal, you may not be able to sell it at full commission but something is better than nothing.

You need to manage your clients expectations or your client will manage you. If his tax returns show a loss or a very very small net profit he will more than likely be declined at the bank, leverage this.

Sell it at a 1.2, cost of money is 1.67% a month with early payment discounts and no prepayment penalties. He wont find a better deal elsewhere for unsecured money that wont tie up his fleet of taxis.