Phil Grossfield's Blog


Share My Car?  Consolidate Stacked MCAs

Sharing My Car With A Teenager – I Don’t Recommend It.  My daughter just learned to drive and now I’m effectively sharing my car with her.  My wife won’t let her drive her car, and yes, my wife is in charge.  And I’m not buying my daughter a car because if I did, then I would have no leverage to get her to do what I want. Therefore, she will use MY car IF I give her permission.  Truth be told, I don’t want to share a car with her, but this is a terrible time to buy myself a new car since inventories are way down and prices are way up. So, I guess I’m stuck sharing for now, and I have to say…I don’t like it, not one bit. 

WBL Products…My Highlights & Guidance

  • CONSOLIDATE STACKED MCAs.  First, a merchant with lots of open MCAs is still qualified for a loan as long as they can illustrate (1) there is equity in real estate they can pledge as collateral, and (2) they can afford the payments. Consolidating a merchant’s MCA debt is a great plan because our payments are usually lower, payments can be monthly with an interest only loan, and it opens the door for future cash advances.  Remember, we base our loan amounts on the available equity in property, not on revenues alone.  This usually results in higher loan amounts with higher commissions. 
  • NO PAYMENT & SUBSIDIZED PAYMENT BUSINESS LOANS  |  Always Ask Merchant/Borrower If They Have Real Estate – What Real Estate Will Be Acceptable As Collateral?  |  

The Market…My Take

  • How Does Raising Fed Interest Rates Battle Inflation?  Simply put, the Fed raises rates to slow consumer spending so prices will fall…let me explain. The Fed controls the Fed Funds Rate which they have been raising in the hopes of indirectly changing consumers’ spending behavior…your spending behavior. By increasing the Fed Funds rate, they directly impact banks by making it more expensive for them to borrower money…yes, banks borrow money from each other all the time (but that’s another topic). If it costs more for a bank to borrow, guess who they pass that added expense to? Yep, it’s you! That makes it more expensive for us regular hard-working folks to borrow money. If it’s more expensive for us to borrow money, then we’ll borrow less, and when we borrow less, we spend less. That makes sense, right? So when we spend less as a community, then demand will fall. When demand falls, prices will fall to encourage more spending. Stores will start putting goods on sale, and so on. Simple. 
  • How Does Raising Fed Interest Rates Battle Inflation?  | Good Time To Hire Salespersons

Resource Links, Process & Loan Intake Instructions

  • Appointment Link – Get On Phil’s Calendar.
  • White Label Marketing Flyers Using Your Logo & Contact Information.
  • Flyer For Independent Sales Organization – ISO — Phil Grossfield
  • Email the Loan Opportunity To Me.  Send (1) an Application with all the Merchant/Borrower’s information including their mobile number and email address, (2) a full description of the real estate or download this Excel REO Schedule , and (3) a minimum 3-months business bank statements (6 months is better if you have it).
  • To Qualify For A Business Loan.  (1) Equity in Real Estate – we’ll utilize virtually any type and combination of real estate in any condition, and (2) Revenues – sufficient to support/afford the loan payments – we’ll need 3-6 months of business bank statements to see what revenues are deposited.  If we have these two, we can overcome just about any hurdle…
  • Process.  After I send the loan opportunity to our Intake Department (see above), I’ll receive preliminary feedback on the real estate collateral, affordability, and any other considerations. On the same day or next, I’ll present to our Market Clearance team for loan structure guidance. Then you and I will discuss and decide what to Offer the Merchant Borrower. If accepted, then we’ll send the Borrower Merchant an authorization form and formally submit the loan.


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