Results 1 to 10 of 10
-
03-17-2020, 01:47 PM #1
- Join Date
- Sep 2019
- Posts
- 109
Scared money doesn't make money
This is a crazy time in our industry, lenders seem to be shutting down operations left and right, mostly out of fear and uncertainty (understandable).
However, the true funders will continue to fund and weather this storm. Some may go out of business over this, but this will create more space for new funders.
Do not be afraid my friends, business as usual, times like these are what creates a demand for us.
When we shake this there will be alot of new prospects that have been cut off by banks.
It is darkest before the dawn, but mark my words, 2020 will be one hell of a year for all of us (brokers and funders alike).
Keep pushing and stay safe.
-Ghost
-
03-17-2020, 01:54 PM #2
- Join Date
- Feb 2018
- Posts
- 1,349
yes things will move on eventually. anyone who was around in 2008 knows this. its a cycle and will eventually go back to business
-
03-17-2020, 02:03 PM #3
- Join Date
- Aug 2014
- Posts
- 620
Things will be amazing when this dies down. Right now funders like us who have over 200 million out on the street will be focused more on collecting/working with our merchants who have been affected by this and renewals as opposed to new deals. We are doing new deals as well, but no where near full capacity. I think next week we'll start to open up a bit more and work towards getting back to our normal funding.
Last edited by Anthony@torro; 03-17-2020 at 06:58 PM.
-
03-17-2020, 02:32 PM #4
-
03-17-2020, 02:44 PM #5
- Join Date
- Dec 2013
- Posts
- 4,713
I got 2 words --- "Mantis Funding"
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
03-17-2020, 02:56 PM #6
-
03-17-2020, 03:07 PM #7
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
03-17-2020, 03:35 PM #8
Ghost hand that's my dude
Hanna Kassis, JD/CPA
-
03-18-2020, 01:54 PM #9
- Join Date
- Oct 2013
- Location
- Designer
- Posts
- 581
A couple of (institutional) banks have started to pull/reduce credit lines from funders. Not all, but a few.
-
03-23-2020, 11:06 AM #10
- Join Date
- Mar 2020
- Posts
- 17
6th avenue capital is still funding. Any brokers that want to sign up with us and send deals in, please contact me: Frederick.Delgrosso@6thavecap.com
SEE BELOW TEMPORARY GUIDELINES
Hello
*Due to the current Coronavirus situation* All SIC Code are on the watch list – This is an Temporary change we will adjust as we go.
All Rules applies with the updated guidelines.
This time is crucial, if you have any
HEALTHCARE
HOME HEALTHCARE
PHARMACIES(STORE FRONT NOT ONLINE)
LIQUOR STORES
SUPER MARKETS
LAUNDROMATS
CLEANING SERVICE(JANITORIAL).
ELECTRICAL
HVAC
SECURITY
FUNERAL HOMES
AUTO REAPAIR
WHOLESALE/DISTRIBUTION
Send them we are one of very few Direct Lenders that are operating right now. Good time to take this opportunity while we can. We have an express program for 50k if approved just need DL/VC- and Landlord contact info if merchant meets criteria.
Max Term for the all SIC Code 8 months (1st pos) – Funding Cap 50K
Max Term for 2nd Pos 6 months (Funding Cap 15K)
Currently not funding in the following States
NY, WA, MA, NJ, OH, IL, CT – other states will follow
No High gross 1st and 2nd
No MCA Consolidations
No 2nd Position Advantage Program
SIC currently not funding
Restaurants
Hotels
Bars / Clubs / Dances Halls / Catering Halls and Catering Svc
Event Venue
Event Service companies
Spas (Beauty and Barber shops, Nails Salons)
Sports Centers & Gyms
LIST OF FUNDERS NOT FUNDING*
CAN CAP
Knight
Parr
Rapid
Rapid Platinum
LG
Forward
Wellen
*- TEMPORARY
Similar Threads
-
Looking For 50/50 ISO Partners, who want to Make More Money!
By ava712 in forum Help WantedReplies: 45Last Post: 07-26-2018, 11:38 AM -
ISOs: THERE IS ANOTHER WAY TO MAKE BIG MONEY!!!
By ava712 in forum Deal BinReplies: 0Last Post: 04-11-2018, 02:10 PM -
Make Money With Declines
By Collection Specialist in forum PromotionsReplies: 1Last Post: 03-24-2016, 07:11 PM -
let's make some money
By businessgrowthcapital in forum PromotionsReplies: 4Last Post: 04-30-2014, 12:18 PM -
Where brokers go to make money
By bdshaw in forum Business LoansReplies: 4Last Post: 03-24-2014, 11:30 AM