Results 1 to 16 of 16
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04-19-2017, 09:31 AM #1
- Join Date
- Jan 2017
- Posts
- 116
List of lowest cost funders for first positions and stacks
(RIP) CAN CAPITAL - First Position - Buy Rate 1.16 - 12 month term - 5 points commission - no origination
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04-21-2017, 01:54 PM #2
- Join Date
- Nov 2014
- Location
- NYC
- Posts
- 187
1.15 for 12 months with 12 point up sell 1.2% fee
1.20 for 6 months with 12 point up sell 1.2% feeDavid Obstfeld
Chief Executive Officer
SOS Capital
1330 Ave of the Americas, NY, NY 10019
212-235-5455
SOSCapital.com
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04-21-2017, 03:05 PM #3Karen37aGuest
Are you asking for a list of the low cost funders? Or just some of the rates?
Some had the rate down to 1.13, then moved to 1.16-8 with 5 point cap on commission and % discount on renewal for double dipping. 1.21 ,12 months, cap at 10-12% , some with no underwriting fees , some with additional underwriting allowed built in with a split or no split, pre payment adden sometimes allowed, some with weekly payments. ( case by case basis )
15-18 mths .. allow for the time value of money, factor in additional risk and turnover of money potentially lost. Strong files. Prepare to be nagged for a renewal at 6 months. A few companies do not allow for additional psf fees because they can build it in to the price of the advance. Its better that way anyway. Some charge it but will not share it or give half.
Stacks the same I only stack to get the client away, I do not stack myself I wait for renewals. 4-6 month seconds7-10...12 on a strong file, hard to do.
Like you said I am a newbie, ill save you from the bad newbie advice or answers. Not sure if its a volume/ preferred broker discount, if you have high renewal ratios and low to no defaults that might help get better offers. Maybe some of the veteran's will give away their specific secret sauce in regards to pre-underwriting which is the key to their success. Doesn't make them money so I cant see why most will unless you are friends with them or civilLast edited by Karen37a; 04-21-2017 at 03:13 PM.
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04-21-2017, 03:53 PM #4jotucker1983Guest
Well, the first thing you can do is build you a list of quality A/B Funders. Now, your merchants still have to qualify for their programs in order to qualify for the lower cost factors.
A merchant can come to you talking about he doesn't want to pay higher than a 12 month 1.15, but if he has anything lower than a 700 FICO, doesn't have extremely clean bank statements, doesn't have good financials, and if he has any type of tax lien out there........he doesn't qualify.
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04-21-2017, 04:07 PM #5
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04-21-2017, 04:12 PM #6
Are these your rates? If so please PM me.
Sean Hawley
CEO
BLF
Bright Light Freight
shawley@brightlightfreight.com.com
631-210-6327
SBA, Term Loans, LOC, MCA & Equipment Finance (Transportation & Trucking)
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04-21-2017, 04:13 PM #7Sean Hawley
CEO
BLF
Bright Light Freight
shawley@brightlightfreight.com.com
631-210-6327
SBA, Term Loans, LOC, MCA & Equipment Finance (Transportation & Trucking)
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04-21-2017, 05:05 PM #8Karen37aGuest
I'm shocked , didn't think it was possible anymore.
Have a great weekend everyone.
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04-21-2017, 08:20 PM #9
Rideextreme, how long ago was that 1.06 and what was your add on and did it get funded? I ask that because as a first A paper. Have you recived that offer lately or are we just talking in geneal
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04-21-2017, 08:37 PM #10
- Join Date
- Jan 2017
- Posts
- 116
Lowest Rate for A- B Paper Stack - Quaterspot....any others?
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04-21-2017, 09:08 PM #11
List of lowest cost funders for first positions and stacks
Strategic Funding gave us 1.04 buy rate once!
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04-22-2017, 06:45 AM #12
- Join Date
- Jan 2017
- Posts
- 116
sure
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04-22-2017, 08:00 AM #13
- Join Date
- Apr 2017
- Posts
- 1
List of lowest cost funders for first positions and stacks
Funded 2 merchants with TBB's semi monthly debit program 1.13 buy rate 12 mo term.
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04-22-2017, 08:30 AM #14
List of lowest cost funders for first positions and stacks
Yeah I got an approval like that the other day from TBB.
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04-24-2017, 11:55 AM #15
- Join Date
- Aug 2016
- Posts
- 118
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04-24-2017, 12:59 PM #16
- Join Date
- Feb 2017
- Posts
- 3,450
Gail, I sent you a PM.
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