Our team is dedicated to taylor fit a program based on our clients busines. We fund & wire Business Capital in 48 hours of application and approval.
Operating as usual
Cash Advance vs Term Loan / or Lines of Credit. ...So what’s driving the shift? Small businesses, some of which are saddled with short-term obligations, have begun to realize that thanks to the rise of alternative lenders they have more options. Meanwhile unscrupulous collection agencies are throwing a monkey wrench into the situation, making it trickier for merchants to gain access to cash advances.
LendFi Corp, said a major setback for the MCA industry has been the interference of collection companies convincing good paying merchants to default and cut their payments in half. By negotiating payments with a third party, merchants essentially become blacklisted from receiving any further MCAs.
LendFi specializes in cash advances, term loans, equipment leasing and lines of credit. We are noticing a trend of more MCA brokers expanding their line of business in the last year.
“Companies are overextended [with cash advances.] It’s a problem, “If everything is perfect, we can do a term loan or a line of credit if it falls under certain criteria.”
One small business came to LendFi’s and as a result saved himself a lot of cash. “We consolidated someone’s loan recently. & got him a term loan and saved him $14,000 a month. He had two loans at $110,000 combined, I got him a term loan for $165,000 and he saved $14,000 a month. He was paying $22,000 per month, adding that he also consolidated the payments from a daily to a monthly schedule. “That’s a huge savings.
LendFi Corp warns of MCA Stacking and over leveraging merchants for there own Greed not the merchants Need. Making a deal benefit the borrower is a good deal...Never lose perspective to the client needs vs your own. Sometimes making a deal work and creating longevity and portfolio retention with a client reaps rewards for both parties over the long haul. That's building relationships, That's how we all keep our doors open.
For all of the twists and turns that may be up ahead for brokers and merchants alike, one thing seems clear. The MCA industry isn’t going anywhere.
“There will always be a [customer] whose only option is an MCA, and it has its benefits for many. For example, the only way to get business funding in one or two days is with an MCA. However, I think the reasons why someone would need an MCA are becoming fewer and fewer as other more viable financing options emerge.
LendFi Corp ,Commercial Funding Solutions
May 2017 Full Throttle Magazine add
See our add on page 34 of this months Full Throttle Magazine
[05/10/17] See our add in this months May 2017 Full Throttle Magazine NY NE.
[04/05/17] When your bank tells you in 20-60 days for approval, LendFi Corp approves & funds your business 20-48 hours of approval.
[04/04/17] No ACH or Sweeps on weekends or Holidays.
[03/31/17] Pay Off Early and get up to a 7% Discount...... "Never" a Pre-Pay Penalty
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Building relationships and creating opportunities for any Entrepneur . Your Business is our Business.
[03/23/17] We specialize in Bar Restaurant, Automotive, Power Sport, Transportation, Trucking, Auto Dealerships, Fabrication , Medical Care Facilities or any Serviced based business looking to move to the next level. Fund$ for Marketing Inventory, Growth & Capital Projects and for getting rid of Old Debt.
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Our professional management team has over 40 years of mortgage experience. You can be assured that you will receive the best advice from our team to assist you through the funding process. All types of business and mortgage funding can be found here!
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