Online small business lenders, banks, equipment finance companies, merchant cash advance businesses and commercial credit card companies trust TBF’s debt buying solutions.
Read what customers and competitors say about selling commercial debt to TBF
Competitive pricing. Proven reliability. Fast response. Swift payments. These are just a few of the strengths that customers mention when talking about their experiences selling commercial debt to TBF.
Our customers include online small business lenders, banks, equipment finance companies, merchant cash advance businesses and commercial credit card companies across the United States. The following are insights from some of the businesses we serve, and a potential competitor.
Competitive pricing is important to lenders selling off debt, but so is dealing with a proven commercial debt buyer that they can trust.
A collection manager with a large online commercial lender made that comment to TBF several years ago. The lender has sold portfolios of charged-off business loans to our company regularly as part of a monthly forward-flow agreement.
At one point, the lender’s senior executives informed the collection manager that he should interview other debt buyers to compare pricing. But the collection manager was adamant that other bidders would not get the deal. He said TBF’s price was more than fair, and there was nothing any other buyer could offer that would beat the relationship we had developed.
He felt it would not be worth the risk to his company to change buyers. Nobody could exceed TBF in performance, he said, as our company always delivers as promised.
TBF has been buying commercial debt from one of the largest banks in the country for nearly 20 years. The bank sells charged-off equipment leases to us on a regular basis.
The bank’s executives feel our reputation and experience are critical to the success of this long-term relationship. When issues occasionally arise, TBF always follows up and resolves the matter, even if our company takes a hit. In-house legal counsel for the bank once told us they can sleep well at night knowing that TBF always comes through.
Other banks we serve include a lender that once came to us with loads of notes that had been financed by securing the loan with a first mortgage on the bank customer’s owner-occupied business real estate. A bank executive there referred our CEO to the manager in charge of dealing with all the charge-offs.
At first, the bank manager did not believe that the debt buying deal TBF offered would actually close. He was skeptical because the concept was new to him, and the deal required lots of capital. The deal did close, and it was an easy process for the manager. TBF closed several more deals to clean up that portfolio. Others were so impressed with what the manager accomplished that he was later promoted to another division./p>
Commercial customers also value TBF’s ability to close deals quickly. This was true even in 2002, a time when confidential financial documents could not be easily shared electronically with sellers for review.
That year, we received an urgent call after Thanksgiving from an equipment leasing and finance company. Its collection manager said the company had a potential deal for us but needed to close on it before the end of the year. In response, the TBF team was on a plane the next day to visit the company. We performed our review over the following days to close the deal before Christmas on a $7 million portfolio of charged-off equipment leases. That was a sizeable portfolio back in 2002.
Today, TBF can handle deals even more quickly, using secure digital technology. In established forward-flow relationships, we can often wire the cash payment within a business day of receiving the seller’s signed agreement.
Our CEO recalls attending a Receivables Management Association International (RMAI) event where he met a finance executive who was considering getting into commercial debt buying.
The prospective competitor said he understood that pricing a deal right was crucial to turning a profit while offering a competitive bid benefitting the customer. But, he added, TBF was already so good at this that his company had decided to back off from any deals that our company was bidding. His business knew if it outbid TBF, it would likely lose money on the transaction.
Why should this matter to debt sellers? Because commercial debt buyers that don’t have TBF’s industry knowledge sometimes make promises they cannot keep. We have the experience and funding to back every deal we make.
What is a debt buyer?
A debt buyer is a company that buys delinquent or charged-off debt from lenders and lessors.
What is commercial debt?
Commercial debt is money that businesses owe lenders and lessors to repay loans, leases, lines of credit, credit cards, merchant cash advances or other forms of financing.
Why should you choose TBF as a commercial debt buyer?
Most debt buyers are experienced in consumer debt, not commercial debt. TBF specializes in commercial debt buying and has a long history of success serving the needs of banks, equipment finance companies, online lenders, merchant cash advance businesses and credit card companies. We are the leading commercial debt buyer in the United States, with many satisfied customers.