[MCASPECIALIST]

Does anyone know what Loan Me is currently paying out to ISO'S ?

[CO1]

5 points

[MCASPECIALIST]

thanks!

[GMFunding]

5 points

On the net amount, the origination fee can range from 5-35% I believe.

[mcaguru]

Are you saying when someone funds 100K they let ISO charge merchant 35,000!???

[GMFunding]

Are you saying when someone funds 100K they let ISO charge merchant 35,000!???

No, LoanMe charges that - the ISO isn't supposed to charge anything.

[LoanMe]

On the net amount, the origination fee can range from 5-35% I believe.

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.

[RickyR3712]

Are you saying when someone funds 100K they let ISO charge merchant 35,000!???

5%-10% is what they charged. Which according to you is the cheapest in the industry

[LoanMe]

Are you saying when someone funds 100K they let ISO charge merchant 35,000!???

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/28NmNfb

[GMFunding]

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.

That is my mistake, We haven't worked with options 3 & 4 much so I shouldn't have commented on them.

For what it's worth, LoanMe is great option if the scenario arises for a deal.

[anonymous]

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?"

[LoanMe]

Does anyone know what Loan Me is currently paying out to ISO'S ?

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=Loanme

[LoanMe]

That is my mistake, We haven't worked with options 3 & 4 much so I shouldn't have commented on them.

For what it's worth, LoanMe is great option if the scenario arises for a deal.

Thank you GMFunding, It is a pleasure working with you Isaiah!

[anonymous]

good talk

[brokerCompany]

this thread has more communication from loanme than you get via email with them

[RickyR3712]

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=Loanme

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.

[RickyR3712]

this thread has more communication from loanme than you get via email with them

i always get responses when i email the broker email.

[LoanMe]

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?"

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/

[anonymous]

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/

Was the referring to the one you had advertised just a few posts prior, with the 1.54 factor rate equivalent, sorry to confuse.

[LoanMe]

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.

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]

i always get responses when i email the broker email.

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.

[anonymous]

What's the APR like though?

[LoanMe]

What's the APR like though?

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)

[anonymous]

Do you [personally] feel that 269%* APR is reasonable and makes a positive impact on the businesses you fund?

[anonymous]

Tango down?