[TedFundy]

I have a potential client that just satisfied a LARGE judgment and needs to make payroll this week (tomorrow). Needs 180-200k literally ASAP. We already got an offer for 200k at 1.29 but I don't think they will get funds out in time. The goal is to get an early payoff discount and get funds sent out before Thursday is over. Ideal offer would be 190ish and payback 240ish. Anyone want to take this on and make a promise to get a wire sent out Wednesday or Thursday at the latest?


Industry - I.T.
Monthly Rev - 900k
No MCA's
No NSF's
Good Credit

[isaacdstern]

Not making any promises but YSC can take a look and possibly fund next day

Isaac
917-743-8369

[bdshaw]

Given a reasonable amount of time this sounds like it would be a fit for our Hybrid program.
Bob Shaw
rshaw@ironhorsecredit.com
734-929-3800

[WestCoastFunding]

Can't fund this with Everest or Kings by tomorrow or Thurs? How about ECG? They do early payoff discounts.

[iso@wallfunding]

Wall Funding can get this done. We can do the $200k, we have similar pricing, and we also offer early payoff addendums.

[mikem]

Wall Funding can get this done. We can do the $200k, we have similar pricing, and we also offer early payoff addendums.

Wall could offer a 1.29 factor for A paper with the 11 point commission built in? What kind of term would he get?

[iso@wallfunding]

This is not A paper, if he just satisfied a large judgement. Also, the ISO said he got an offer at 1.29, he didn't specify if that was a buy rate or factor rate, with commission built in. Ideally, we can offer a 1.28 buy rate, and going out 7 months, possibly longer.

[TedFundy]

Sorry . Also, it's a California Company. The 1.29 is the factor rate with commish being built in. We were brought this file by a broker who isn't savvy with Fintech but wants around 8k in commish and he will give us the account (to factor). So we need to hit that commission mark where we don't lose money off the bat. But they literally laughed at me when I told them the rates. They are going to pay this off in 30 days or less so what kind of discount can they expect for a 30 day payoff?

[WestCoastFunding]

ECG offers 15 points off sell rate if paid in 0-30 days. ECG would probably give this guy a 1.25 buy rate. If you add a 10 point commission (1.35) and payoff in 30 days they will end up paying 1.20 with 10 built in. If the broker is content with $8k (4 points) you could probably get them a 1.29 with a 0-30 day payoff at 1.14.

[TedFundy]

ECG offers 15 points off sell rate if paid in 0-30 days. ECG would probably give this guy a 1.25 buy rate. If you add a 10 point commission (1.35) and payoff in 30 days they will end up paying 1.20 with 10 built in. If the broker is content with $8k (4 points) you could probably get them a 1.29 with a 0-30 day payoff at 1.14.

Who should I speak with over there?

[WestCoastFunding]

John McKenzie
Director of ISO Relations

D: (605) 809-8309
T: (877) 204-9203
F: (605) 252-3624

jmckenzie@expansioncapitalgroup.com

[nrh1lp]

ECG is awesome, they gave me an offer in 45 minutes a few months back

[WestCoastFunding]

Overall they're just easy to work with.

[AdvanceFund]

I have a potential client that just satisfied a LARGE judgment and needs to make payroll this week (tomorrow). Needs 180-200k literally ASAP. We already got an offer for 200k at 1.29 but I don't think they will get funds out in time. The goal is to get an early payoff discount and get funds sent out before Thursday is over. Ideal offer would be 190ish and payback 240ish. Anyone want to take this on and make a promise to get a wire sent out Wednesday or Thursday at the latest?


Industry - I.T.
Monthly Rev - 900k
No MCA's
No NSF's
Good Credit

Let me know what you come up with. This is right up our alley.