Results 1 to 25 of 113
-
04-12-2017, 10:12 PM #1
- Join Date
- Jan 2017
- Posts
- 116
How's the 2017 Busy Season treating everyone? Willing to be truthful?
Let me guess...submissions & fundings at record levels
Doubtful
This board is all but dead
-
04-13-2017, 12:49 AM #2
- Join Date
- Dec 2015
- Location
- Costa Mesa, California
- Posts
- 16
-
04-13-2017, 09:26 AM #3
-
04-13-2017, 09:35 AM #4
- Join Date
- Jan 2017
- Posts
- 116
Record Submissions, Record Funding, Zero Defaults, Record First Quarter
...signs of a healthy and thriving industry!
-
04-13-2017, 10:27 AM #5
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
CAN Capital is alive and well GSilverman!
-
04-13-2017, 10:34 AM #6
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
I have seen a fair amount of ugly balance sheets and there are some fishing expeditions or fake deals in the market. Business owners are very shy about giving information because they do not know who to trust. That being said, submissions are down a little. Closed deal numbers are up as people recognize we are a very cost effective solution, we do what we say, and we offered a value added solution to a problem.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
-
04-13-2017, 10:50 AM #7
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Overall very positive. I agree with Kevin that the Balance Sheets we are seeing have been ugly though. But funding is up 50% over Q1 of last year. And if I include the real estate funding I am actively doing now (with rates in the 8% - 12% range), fundings have doubled over Q1 of 2016.
-
04-13-2017, 11:04 AM #8
- Join Date
- Jan 2017
- Posts
- 116
you guys crack me up
-
04-13-2017, 11:10 AM #9
- Join Date
- Oct 2016
- Posts
- 4,318
My favorite file was the one floating around with 9 advances.
-
04-13-2017, 11:11 AM #10
- Join Date
- Jan 2017
- Posts
- 116
Honesty, finally.
-
04-13-2017, 11:17 AM #11
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
The low rate funders are losing their shirts and the high risk funders are doing pretty well, despite having much higher default rates. However, the debt consolidation vultures pose a serious threat to the high rate guys.
-
04-13-2017, 11:24 AM #12
- Join Date
- Jan 2017
- Posts
- 116
Agreed - A Paper Funders doing it for practice.
-
04-13-2017, 11:30 AM #13
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
They're doing it to grab market share. But unlike Amazon, which did the same thing and lost money for many years before turning it around in a major way, the low rate funders just keep on digging a bigger and bigger hole for themselves.
-
04-13-2017, 11:50 AM #14
How's the 2017 Busy Season treating everyone? Willing to be truthful?
The debt consolidators pose a serious risk to everyone, not just the higher rate funders.
-
04-13-2017, 12:00 PM #15
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
Isaac, the debt consolidators usually target the merchants with banged up bank statements (NSFs, multiple advances, bounced MCA payments). I would think the A paper merchants in good standing who have low rates and solid bank statements wouldn't need their services.
Last edited by MCNetwork; 04-13-2017 at 12:02 PM.
-
04-13-2017, 12:07 PM #16
- Join Date
- Apr 2013
- Location
- NY
- Posts
- 203
They are targeting everyone. They charge merchant fees for, among other things, the amount they can settle for. So where is the bigger potential fee- a merchant 1 month into a 3 month deal, or a merchant 1 month into a 12 month deal? In our view, a 12 month 1.36 is a great rate, but plenty of people still view that as an insanely high rate!
Not to mention all the merchants who have balances with both A paper funder and high risk funders.
These companies hurt everyone, including the merchants.
-
04-13-2017, 12:40 PM #17
- Join Date
- Oct 2016
- Posts
- 4,318
-
04-13-2017, 01:27 PM #18
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
I guess it's the new MCA food chain. B-F funders prey on the A funders and debt relief guys prey on B-F funders!
-
04-13-2017, 01:54 PM #19
- Join Date
- Dec 2013
- Posts
- 4,713
Cresthill/Mantis never discusses numbers publicly (perhaps why we are not listed in some of the recent rankings). If you want to however use commission payouts to ISO's as an indicator seems the industry is very healthy year over year.
Regarding debt consolidation companies. I cant comment on them.. if they were publicly traded companies i would not advise anyone rush to buy shares in them just yet).Last edited by mcaguru; 04-13-2017 at 01:58 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
04-13-2017, 02:20 PM #20
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
This is misleading because commission payouts are inflated due to excessive stacking. One merchant can pay commissions to five different ISOs whereas a few years ago this wasn't the case. Back in 2013, stacking was a dirty word. Now it's common practice and funders on this board openly brag about being 2nd to 10th position stackers. Even some A paper funders do 2nd positions. A better indicator of the industry's health would be to measure growth of first position originations.
Last edited by MCNetwork; 04-13-2017 at 02:40 PM.
-
04-13-2017, 03:21 PM #21
- Join Date
- Jan 2017
- Posts
- 116
Archie knows funding and is telling the truth.
-
04-13-2017, 03:42 PM #22
- Join Date
- Dec 2013
- Posts
- 4,713
i never promote the word stacking. I personally look at a daily ACH debit of $199 a day over the next 140 days no different then a construction company looking for capital and we discover $199 a day is being spent at ace hardware for paint.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
04-13-2017, 03:59 PM #23
- Join Date
- Jul 2015
- Posts
- 1,202
I've never seen an Ace Hardware Contract for paint nor seen them on any statements clearly indicating that a binding formal agreement to pay and comply was executed by both sides.
-
04-13-2017, 03:59 PM #24
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
-
04-13-2017, 04:22 PM #25
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
I have been saved in March and Beg of April by very large deals, but numbers of submission are way down. Trying new lead generation but not doing well with it.
Seems things have slowed for me.
Similar Threads
-
Looking for ISO For Busy cash advance office
By David Cohen in forum Merchant Cash AdvanceReplies: 23Last Post: 01-19-2017, 02:46 PM -
Property Management Seeking to net 50k for busy season
By NJFunder in forum Deal BinReplies: 3Last Post: 11-28-2016, 10:56 AM -
Business going Out of season
By Lmonus in forum Merchant Cash AdvanceReplies: 5Last Post: 10-21-2016, 01:20 PM -
Tax Season Question
By michaelh in forum Deal BinReplies: 0Last Post: 02-21-2016, 10:57 AM -
Busy MCA Funder Seeking 1-2 Closers!!
By FundingWiz in forum Help WantedReplies: 4Last Post: 08-04-2014, 02:41 PM