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Mark_GMC
579 Posts |
 Posted - 02/29/2008 : 05:37:14 AM
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GMC Mortgage Capital (http://gmcmtgcap.com) is thrilled to announce the introduction of several new programs for our broker clientele. The newest addition is our Business Credit Advance which is able to put cash in your borrowers' hands without any real estate as collateral! This program is based solely on the merits of the business alone.
So what is a Business Cash Advance?
A BCA, or sometimes called Merchant Credit Advance, is an advance (of dollars) to a merchant based upon the average credit card charges (MC/VISA) that are collected each month. Highlights include:
NO Personal Guarantees necessary
Fundings in 3-7 days
Minimal Stips
Brokers make 4 points on every deal
How does it work?
The merchant is advanced a percentage of their average monthly credit card sales (typically around 125%) and then repays these advanced monies by having a portion of future sales deducted each month.
What kinds of business are eligible?
Any business generating a portion of their monthly revenues via credit card receipts can apply. Take a look at just some of the business owners we can help:
Bar / Nightclubs
Beauty Salons
Dry Cleaners
Gas Stations
Restaurants
Retail Sales
Hotels / Motels
Auto Repair Shops
Day Care Centers
Convenience Stores
Nail Salons
and so many more....
What are the minimum requirements that have to be met?
Business has accepted Visa/Mastercard for at least 12 months
Monthly Visa/MC volume is 15+ transactions and $5,000+ in sales
All prior bankruptcies (if any) have been resolved for 12+ months
At least one (1) year remains on the current retail lease
Getting started submitting these deals is as EASY as taking 60 seconds to complete our online webform at http://submit-ms.gmcmortgagecapital.com We'll get back to you within a matter of hours typically with your next steps for the deal.
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Mark_GMC
579 Posts |
Posted - 03/03/2008 : 06:18:04 AM
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| bump... |
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Mark_GMC
579 Posts |
Posted - 03/05/2008 : 3:43:25 PM
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| Several brokers have taken advantage already, why not be the next? |
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velecico
3930 Posts |
Posted - 03/05/2008 : 8:42:10 PM
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Marc ,
I have been doing TM for Aspen Merchant for past 45 days , not goling so well , they pay me 8pts , ( 6 upfront , 2 on the back ) how many deals are you funding per week ? do you actually have a branch or are you a recruiter ? |
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Mark_GMC
579 Posts |
Posted - 03/06/2008 : 06:53:16 AM
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Nick-
We signed on with another group out of New York. We did speak with and visit Aspen's offices, but didn't like the way they ran their shop. Nothing wrong with it, just wasn't our style. We just launched the program and have received tons of inquiries and the submissions are starting to roll in the door. Being a commercial lender we're able to leverage our brokers and their client relationships to sell the program, as opposed to many MCA firms/branches going right after the end-merchant and having to cold-call and 'pitch' them. |
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