[ezmerchantcapital]

Is anyone out there actually FUNDING (not just advertising) 24 month paybacks? If so, please let me know!

[Scott Williams]

Ondeck and Can Capital are the only ones I have seen. Can Capital usually only does it on renewals.

Also, ARF might have a 24 month but someone else is better to give details on that since I don't use them much.

[ezmerchantcapital]

Thanks Scott. I work with both companies and neither are stretching that far without making a major exception.

[MCAVeteran]

Not a lot of 24 mo options occurring. Money out too long and merchants are coming back for more sooner than later.

[Zach]

I've done two 24 month deals through CAN Capital.

Both of the deals had a buy rate of 1.28 and were for established restaurant franchises with excellent credit and banks.

Besides those two, I've never even seen a 24-month deal before.

On a side note, we just closed a million dollar deal here through BFS.

Funny how the industry is changing... Million dollar advances, 24 month terms... What's next?

[1StopFunding]

I believe GRP does 24 month

[ezmerchantcapital]

Who is GRP? I'm not familiar with them.

A million dollar deal? Wow! Impressive. Hell of a payday there. Congrats! And you're right, this is a crazy business. I thought the subprime mortgage industry was nuts, but you gotta be on top of things in this world, or you'll be eaten alive.

[1StopFunding]

GRP Funding, they are out of Mass. They have some really great programs. grpfunding.com

[Sean Cash]

The GRP guys have been in this business for a long time. Let me know if you need contact info for them.

[Chambo]

GRP Funding, they are out of Mass. They have some really great programs. grpfunding.com

I was just in Springfield last weekend, no sign of GRP...only abandoned warehouses

[Sean Cash]

I was just in Springfield last weekend, no sign of GRP...only abandoned warehouses

what does that mean

[Chambo]

just messing with them....

[Chambo]

but I was in Springfield...thought of popping in and surprising Bartos

[channin19]

Thumbs up to GRP

[GRP Funding]

but I was in Springfield...thought of popping in and surprising Bartos

What were you doing in Springfield Chambo? BBall Hall of Fame? Should have stopped in.

[GRP Funding]

The GRP guys have been in this business for a long time. Let me know if you need contact info for them.

Long enough to get out of "noob" status?

[Chambo]

did you REALLY just go down the thread list and paste the same reply in each convo?

[GRP Funding]

Same post 12 times in 10 minutes. Looks like someone started erasing them though.

[AndyYSCISOdept]

I have heard of these mythical 24 mo. deals...and I just don't see how they make financial sense especially when it seems like a given that the merchant will need additional funds long before they could ever qualify for a renewal, which in turn opens them up to stacking. Even if they don't want to if the merchant needs money they are going to find it out there somewhere.

[GRP Funding]

I have heard of these mythical 24 mo. deals...and I just don't see how they make financial sense especially when it seems like a given that the merchant will need additional funds long before they could ever qualify for a renewal, which in turn opens them up to stacking. Even if they don't want to if the merchant needs money they are going to find it out there somewhere.

The merchant qualifies for much more funding on a 24 month deal than they would on a shorter program. From what we've seen, when the merchant gets what they need upfront it actually discourages stacking.

[Ryan Shiroky]

The merchant qualifies for much more funding on a 24 month deal than they would on a shorter program. From what we've seen, when the merchant gets what they need upfront it actually discourages stacking.

I have been preaching exactly THIS for a LONG time now... it seems no one wants to hear it though... When you give a client what he wants/needs, they will color inside the lines and stick with you, when you low ball the guy he WILL look elsewhere to fill the void... its human nature, when you are not satisfied with a company service, you move on to the next... when your not happy with the tiny white castle burger, you look for the nearest Checkers... when you dont give a merchant enough money, he will find the rest on his own (and now you have Pearl behind you drinking the guys blood)...

[Finance1]

I agree to an extent about the longer terms/larger amounts satisfying a client for a longer period. However, I doubt that period is 12-24 months long. The majority of deals of any size and term have the client requesting a renewal before they are eligible. At least from what I've seen. The 18-24 month space is pretty new. I'd be interested in having this same conversation in a year or so. Stacking is rampant and accelerating. IMO, no primary funder is safe at any size and term.

Over time I believe that the guidelines on renewals are going to change. Addons before 50-60% paid down will become more prevalent as a way of protecting position and cash flow. The only other solution is to get rid of stacking.

[Chambo]

the way to truly protect against stacking is to offer add-ons and not make the merchant refi the balance