[bwadvance]

I am a direct lender and I have a guy in construction which has 4 active loans out and is requesting more $. He has a loan out with cancap, web bank, pearl and some others. My company won't find the deal because it would be taking a fifth position. Does anyone have an idea who might take it?

[bwadvance]

Also, we sent it out to a lot of other companies and they said it's basically been shopped to every lender out there and nobody wants to fund it. Guy has positive business bank account and average 8k balance after everything is paid at the end of the month.

[Eagle Funding]

Call me 516 208 1268, there had to be a reason why hes getting declines, if it makes senses we will do it.

[channin19]

A file in a high risk industry (construction) with 4 open advances is getting declined?

[Fetachini]

If he has positive balances and room for another advance, I might be able to help. I have some private investors (not lenders) who do some out-of-the-box lending.

[Jared_Weitz]

I am a direct lender and I have a guy in construction which has 4 active loans out and is requesting more $. He has a loan out with cancap, web bank, pearl and some others. My company won't find the deal because it would be taking a fifth position. Does anyone have an idea who might take it?

5 advances ranging from terms long to short will 110% kill this merchant. Instead of funding him a 5th position someone should show him how to get out of his own way.......

[FUSIONCAPITAL]

A file in a high risk industry (construction) with 4 open advances is getting declined?

Channin,

According to who you speak to Construction is not a high risk industry, ODC#1 industry (12.5%) is Building and Development, similar to CAN. Plus there are a few funders who specialize in the "blue collar" industries like construction/contractors. We personally like the development/construction companies, just need to do good UW on them.

Notwithstanding, the merchant having 5 positions will definitely make this high risk.

[BizFiStore]

Just paid off nearly 350k worth of advances (had 7 of them) and three invoices for a construction company. We will save the client nearly 100k in interest over the next year by getting him off of the MCA hamster wheel. Rate was prime + 18.99 with 5 points commission. Is he profitable with decent credit?

[Paperchaser]

5 pts to u guys? or 5 points to the broker that brings u the deal

[BizFiStore]

3pts to referral partner. They funded 1m last month with us. We have a tiered incentive model. Typical payout is 1-2%.

[ADiamond]

He has positons with webbank and CANcapital? So he has two advances with CAN? they are one in the same, sir. Also my guess is that it's being declined because it's construction during winter so if they are not in south Florida or Texas - Whoever funds that 4th or 5th position will be left holding the bag. Your company who I've never heard of and is probably an iso shop with selective funding just like half of the other "direct lenders" on this forum - shopping out deals and putting their small lines into anything 750+ A+ 1st position - won't fund it because they're not dumb. If ebf or pirs aren't in it they'd love to add to their default rate send it to them! and if they won't fund it then it's hopeless unless you get him consolidated

[Eddie.deangelis]

Bizfistore please call me 215-669-0827. Eddie