Results 1 to 15 of 15
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05-12-2014, 06:32 PM #1
- Join Date
- Apr 2013
- Posts
- 358
Closest Competitor to On Deck's 18 MTH. I need lenders
MCC goes out to 15 mths.
Where are Rapid, BFS and the other guys on these longer programs? Any suggestions?
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05-12-2014, 07:08 PM #2
BFS 15 month
MCC 15 month
Caprock 10 month
CAN CAPITAL 18-24
IOU 12 MONTHS
SNAP 14 MONTH
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05-12-2014, 07:54 PM #3
There are qualifiers to get those longer terms it's not automatic so ask your account manager for details -
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05-13-2014, 09:49 AM #4
AmeriMerchant & Main Street Business Loans - 10 months
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05-13-2014, 10:01 AM #5
- Join Date
- Jan 2013
- Location
- Berlin, CT
- Posts
- 191
GRP goes out to 15 months on MCA & standard loans. We also have 18 & 24 month premium loans.
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05-13-2014, 10:39 AM #6
- Join Date
- Sep 2012
- Posts
- 199
ARF goes 18. Needs to fit the box of course.
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05-13-2014, 03:43 PM #7
- Join Date
- Apr 2013
- Posts
- 358
Thanks, everyone - definitely appreciate the suggestions.
Should I be suspicious of an On Deck contract sent to a merchant (via ISO) for 18 mths for 20K+ what the merchant is averaging. Merchant has been with On Deck on an 8 mth program - but the 18mths for an additional 20k on top of his average seems a bit odd. He's doing about 50k in sales.
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05-13-2014, 03:59 PM #8
- Join Date
- Apr 2013
- Posts
- 358
The hard thing is getting a low enough buyrate to compete. Sure - the programs stretch that long. But who can offer a buyrate for me that is competitive for us to make something? I won't go to BFS. They outright cheat ISO's who bring them good deals. Was too lenient in bringing them a few stellar deals where they wouldn't go down on their high buyrate at all to get the deal. We asked to switch acct. managers but it never happened; since from what I understand, they can make the difference between what the ISO's upsell and the base points.
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07-24-2014, 10:52 AM #9
CAN has the best long-term programs. 18-20 month elite program has a buy rate of 1.24. Their 18-20 month restaurant franchise program has a 1.19 buy rate. By far the cheapest in the industry right now.
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07-24-2014, 02:32 PM #10
- Join Date
- Apr 2013
- Posts
- 358
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07-24-2014, 04:49 PM #11
- Join Date
- Apr 2014
- Posts
- 64
Will any of these programs, such as CAN 18-24 months allow weekly payments?
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07-24-2014, 05:41 PM #12
BFS does comparable offers to On Deck, and they will do weekly payments on large fundings. They also allow 15 points, which is nice.
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07-24-2014, 08:48 PM #13
- Join Date
- Jan 2014
- Posts
- 283
Yea, you can get a nice pay out with BFS and plenty of flexibility to play around with the term and cost. I have read some negative things about them and am happy to say my dealings with them have been fine (they can be a bit faster though). Buy-rate is a bit high but the 15 month term offsets that.
For a $50k deal, I would honestly send there and Snap. Snap is perfect for a $25,000-$50,000 deal. Decent buy rate, up to 14 months and they fund pretty fast.
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07-25-2014, 08:48 AM #14
- Join Date
- Jul 2013
- Posts
- 352
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07-25-2014, 11:09 AM #15
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