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01-06-2017, 05:33 PM #1
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- Oct 2016
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- 13
Loan me Payout
Does anyone know what Loan Me is currently paying out to ISO'S ?
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01-06-2017, 07:05 PM #2
Loan me Payout
5 points
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01-09-2017, 12:23 PM #3
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
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01-09-2017, 02:18 PM #4
- Join Date
- Nov 2014
- Posts
- 438
Perfect example here of miscommunication leading to a gross misunderstanding about what we offer.
Blending origination fees between two different types of products (Term Loan VS. our Fixed payback/ MCA "Look a Like") makes the statement made by GMFunding look bad.
Below are the products we offer. Partners are paid 5% on the net funded amount of the loan. Be sure to click on the link for #3 below to understand that product.
#1 Simple Interest Term Loans
Loan Sizes: $3,500-$75,000
Annual Interest Rates: 24%-149%
Origination fee: 5-10%
Term: 2-10 years
Monthly Payments
No Pre-payment penalties
Funding in 31 states
Unsecured Loan
#2 Prime Term Loans
Loan Sizes: $76,000-$250,000
Annual Interest Rates: 14.9%-24.9%
Origination fee: 15%
Term: 10 years
Monthly Payments
No Pre-payment penalties
California Only
Blanket UCC filed
#3 Fixed Payback Loans "MCA Look-A-Like"
Loan Sizes: $4,000-$50,000
Interest Rate: 0.00%
Origination Fee: 14-35%
Terms from 6-12 months
Monthly Payments
Funding in 29 states
Unsecured Loan
More info here: http://conta.cc/28NmNfb
#4 (6) Months No Payment Loan
Loan Sizes: $37,500-$50,000
Interest Rate: 0.00%
Origination Fee: 33%
Terms: 6 months
California Only
Blanket UCC filed
Designed for good credit startups with no income
TIB: must have LLC or Inc. setup, and a business bank account
Example of #4:
$50,000 loan
33% origination fee is $16,500
$33,500 net funded
No payments required during 6 month term.
$50,000 is due at end of 6 month term.LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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01-09-2017, 02:26 PM #5
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
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01-09-2017, 02:32 PM #6
- Join Date
- Nov 2014
- Posts
- 438
LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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01-06-2017, 07:09 PM #7
- Join Date
- Oct 2016
- Posts
- 13
thanks!
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01-09-2017, 01:58 PM #8
- Join Date
- Dec 2013
- Posts
- 4,713
Are you saying when someone funds 100K they let ISO charge merchant 35,000!???
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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01-09-2017, 02:01 PM #9
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
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01-09-2017, 02:20 PM #10
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- Aug 2016
- Posts
- 831
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01-09-2017, 02:24 PM #11
- Join Date
- Nov 2014
- Posts
- 438
No, ISO's cannot add additional points with LoanMe.
On this product with up to 35% origination fee, this is for our fixed payback product. Not term loan product.
See Here for this product: http://conta.cc/28NmNfbLoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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01-09-2017, 02:30 PM #12
- Join Date
- Sep 2014
- Posts
- 720
worth noting that factor rate equivalent doesn't take into account time value on capital as all the juice is paid up front. since you're offering "loans," out of curiosity - what does the subsequent APR look like on a Tier E "loan?"
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01-09-2017, 04:35 PM #13
- Join Date
- Nov 2014
- Posts
- 438
You'd have to be more specific as to which Tier E Program you are talking about:
Simple Interest Term Loan (Product #1 above)
Fixed Payback Loan (Product #3 above)
We have Tier E for both. Feel free to see on our website https://www.loanme.com/smallbusiness/rates
Either way these calculators might help find the answer your looking for:
https://www.nav.com/business-loan-calculators/LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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01-09-2017, 04:38 PM #14
- Join Date
- Sep 2014
- Posts
- 720
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01-09-2017, 02:32 PM #15
- Join Date
- Nov 2014
- Posts
- 438
LoanMe pays out 5% of the net funded amount. Most people reading this will compare to their 10-12 points with MCA lenders. Which is literally comparing apples to oranges. LoanMe lends up to 2x (3X in CA) gross monthly business income.
Example from a file partner send to an MCA funder and LoanMe a Direct Lender:
- MCA Offer $12,500 (offer based on a multiple of businesses ending daily balance) X10% = $1,250 commission
- LoanMe Offer $35,000 - ($3,500 origination fee)= $31,500 net funded X5%= $1,575 commission
Please take a look here to see the differences on our Term Loan program: http://dailyfunder.com/showthread.ph...ghlight=LoanmeLoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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01-09-2017, 03:56 PM #16
- Join Date
- Aug 2016
- Posts
- 831
loan me has a place in the industry but have to call bull **** here in regards to commission. First off i have never seen you give over gross let alone 2-3 times of the gross deposits. Next you are skipping an extremely important fact RENEWALS. Loanme is a referral so you get paid once and then hit the road jack.
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01-09-2017, 04:43 PM #17
- Join Date
- Nov 2014
- Posts
- 438
Remember we have 6 set Tiers and buckets (Tiers A, B+,B, C, D) Not every tier gets the 2x multiple. The better credit, the higher the multiple and offer. If you'd like to go over some examples on your files let us know which ones. If you have had a Tier A or B+ LoanMe Tier then yes you have had a borrower received 2x gross business deposits from the lower of the last 2 months business bank statements. If not, you may need to send better credit borrowers that could fall into our Tiers A/B+.
Renewals is an MCA term. LoanMe offers Loans from 2-10 years. We do not have a renewals team waiting here for "2-10 years" to call someone to see if they need more money. Additionally because we offer a term loan, we do not make outbound calls to paid off customers. We don't want to blur lines between a single loan and a line of credit. The biggest part of our product is the flexibility for a borrower to pay off early without pre-payment penalties. We advise all of our partners to call their customers back every 6 months and if they have paid off, you are welcome to send them back to LoanMe for another loan and another commission. If they have not paid off, we are ok with you getting them financing somewhere else to pay us off early (Which other lenders will tell you that?).LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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01-09-2017, 02:48 PM #18
- Join Date
- Sep 2014
- Posts
- 720
good talk
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01-09-2017, 03:35 PM #19
this thread has more communication from loanme than you get via email with them
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01-09-2017, 03:57 PM #20
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- Aug 2016
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- 831
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01-09-2017, 04:45 PM #21
- Join Date
- Nov 2014
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- 438
Yes, its important for everyone to remember to email us at business.loans@loanme.com for the best/fastest response. I
f you emailing any member of the partnership team directly, it could be delayed based on their individual schedules or duties.LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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01-09-2017, 04:45 PM #22
- Join Date
- Sep 2014
- Posts
- 720
Loan me Payout
What's the APR like though?
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01-09-2017, 05:12 PM #23
- Join Date
- Nov 2014
- Posts
- 438
In the Fixed payback example Tier E the APR would be 164.73% vs an MCA equivalent offer would be 269.93% APR.
LoanMe Tier E Fixed Payback example:
$10,000 loan amount (payback amount)
$3,500 origination fee
$6,500 Net Funded
Term: 6 months
MONTHLY PAYMENTS of $1,666.66
APR 164.73%
MCA 1.54 Example:
$6,500 funded
$10,010 payback
Term: 126 days (6 months at 21 days per month)
Daily Payments of $79.67 ($1673.07 monthly)
APR 269.93%
The difference in APR is due to the payment collection method (Monthly payment vs Daily payment)Last edited by LoanMe; 01-09-2017 at 06:43 PM. Reason: Becasue people do not read the details. Had to Bold LoanMe's APR in this example.
LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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01-09-2017, 05:24 PM #24
- Join Date
- Sep 2014
- Posts
- 720
Loan me Payout
Do you [personally] feel that 269%* APR is reasonable and makes a positive impact on the businesses you fund?
Last edited by anonymous; 01-09-2017 at 05:26 PM.
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01-09-2017, 06:40 PM #25
- Join Date
- Nov 2014
- Posts
- 438
Last edited by LoanMe; 01-09-2017 at 06:46 PM.
LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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