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Older Activity
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Today, 09:26 AMMichael, you're correct. Banks like giving money to people who don't need money. The score is just a metric. The best way to increase your creditworthiness is to have multiple credit cards with high balances. One card at $20,000 won't do nearly as much as one $10,000, one $5,000 and two $2500 cards. (Although you do want to have at least one card with a very high limit!) However, the trick is to use them wisely. Try to stay below 20% usage on all cards individually as well as collectively. Have all of your credit cards on autopay (ideally 7 days before the due date), so that you never miss a payment. Use your debit card or pay off the cards early (before the CLOSING date, that's different than the due date) so that the usage won't reflect on your credit report if you need to spend more. One or two term loans with good payment history will round it out. If you're new, get a few $1000 cards. Put $100 per month on each card. In 12 months, apply for another card or two, get a $5000 limit. Same thing. After 5 years, your scores will be fantastic and you'll qualify for the best rates for mortgages and cars. Don't apply for credit that you don't need or want to build your credit history. Each inquiry is a "negative" in the eyes of banks - you're shopping. Rewards are very important, because if you don't have them, the banks will just pocket them, but you're getting charged the same amount by the stores. You have to have discipline, specifically not to spend beyond your means, because the shiny plastic is really cool to flash at the restaurant that you can't afford but want to impress someone by saying "I'll cover the tab." Debt is important, because inflation builds in the credit card fees and the fact that you "can always take a loan." Most people don't use it correctly, hence you have a lot of 590 FICOs with MCAs. If you build the credit nicely, and if you're a business owner, then you can get a true business LOC and you simultaneously teach yourself how to balance yourself, and utilize credit appropriately, and you won't need 3rd tier failing MCA bait and switch brokers who promise you a LOC that you already have.
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Today, 08:56 AMIf this fails, go to bmf. They'll stack a side account for you. Doubt itll be 85k. My first time stacking a side reverse w em, we did 30 days 40k, and we refinanced for 150k 65 or 70 days. They'll pay commission too. Other guys doing these side account stacks are usually such low lives They'll rip your commission.
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Today, 08:54 AMIf the balances meet their guidelines, if i were you, id fund em each at gfe throttle and arena funding. If u submit them all to one funder they make think there's too much bs going on. These guys would give the best savings w/ the lowest rates.
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Today, 08:48 AMDont mind him. Hes a zesty gay older man.
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Today, 08:38 AMOh, I think I have posted in the wrong discussion. Actually, I saw this mentioned below the title of this forum: 'Discuss electronic payments, mobile payments, credit card processing, and all related technology.' It mentions credit cards, so I thought my question would fall into this category.
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Today, 08:19 AMBlast from the past looking at some of the participants in this 10 year old thread. Some of you were still in middle school.
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Today, 08:18 AMWhat does your post have in connection with Payment Processing?
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Today, 08:16 AMI'm trying to figure out the best approach to managing my finances and I've heard mixed advice on credit cards. Some people say having multiple cards helps with credit scores and offers more benefits, while others warn about the risks of debt and overspending. Currently, I only have one credit card but I’m considering getting another for the rewards and credit-building potential. How many credit cards do you guys have and how do you manage them effectively?
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Yesterday, 11:05 PMJared a wannabe funder for sure, but he just a broker. I know of a few shady little things he has done to a few shops in the past to try to get information but liar and deceiver are good words to use
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Yesterday, 09:39 PMAsk the merchant if he took any financing on the date or around when it was filed. If they dont remember get statements around the date. Look for lender or funder deposits or new debits (also factor deposits that start around the date it was filed). That'll be who filed it. If that fails also call ct systems. If its funding on another biz and this one was cross collaterized youre either toast or good to go.
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Yesterday, 08:10 PM:confused:
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Yesterday, 07:23 PMdiditevenfund replied to a thread It's The End Of The Month, Time to Fire Your Lead Supplier in PromotionsOnly exclusive leads you are getting are real time generated yourself, and even those have tons of shoppers in there.
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Yesterday, 06:52 PMCollinscash started a thread Discover Easy Approval Cash Advance and Funding with Smart Business Funding in Financial ServicesHello Everyone, I hope you're all doing well! I'm excited to share some valuable information with you about a service that can significantly simplify the funding process for your business. I want to personally introduce you to our easy approval cash advance and funding solutions designed to help businesses like yours thrive without the usual financial stress. Contact us for more info: Smart Business Funding Toll-Free Number:1-866-Re-Smart Fax: 347.402.1650 Email: Info@SmartBusinessFunder.com Why Choose Smart Business Funding? At Smart Business Funding, we understand that securing funds for your business can be a daunting and time-consuming task. That's why we’ve streamlined our process to offer fast, flexible, and straightforward funding options. Here’s what sets us apart: Fast Approvals We know that time is money. Our approval process is quick and efficient, often allowing you to receive the necessary funds within 24-48 hours. Flexible Terms We offer customized funding solutions tailored to meet the specific needs of your business. Whether you need funds for inventory, equipment, or marketing, we have you covered. Expert Guidance Our team of professionals is dedicated to helping you choose the best funding option for your business. We’re here to provide the guidance and support you need every step of the way. Trustworthy Service We pride ourselves on our transparent and reliable service. With a proven track record of helping businesses achieve their financial goals, you can trust us to deliver on our promises. Contact us today!
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Yesterday, 06:31 PMWhat's the revenue? What's the valuation of the business? Too jumbled to understand. You want to use inventory to buy the business...I don't understand this at all. I'd need to see tax returns of buyer and seller for 3 years P & L and balance sheet of business 2023 and YTD 2024 PFS of buyer Schedule of liabilities Fico score of buyer etc... Reach out...
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Yesterday, 06:28 PMI have a customer with a UCC filed by CT Systems with no lender. - Does anyone have a number at CT corporate systems to track this down? Mike
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Yesterday, 06:10 PMClient looking for a unitranche or mezzanine loan for business acquisition. Business Overview: Location: Atlanta, GA Industry: Retail – Liquor Store EBITDA: $488,000 Inventory Value: $650,000 Loan Request: Amount: $1,000,000 Inventory Financing: 50% Loan-to-Value (LTV) on inventory Equity Contribution: $400,000 The requested mezzanine loan will be used to facilitate the acquisition of the liquor store, which has demonstrated strong financial performance and possesses a solid market position in the Atlanta area. The store's EBITDA of $488,000 reflects its profitability and operational efficiency. In addition to the mezzanine loan, client is committing $400,000 in cash as an equity contribution towards the acquisition. Given the substantial inventory value of $650,000, we are also seeking additional financing with a 50% LTV ratio on the inventory. This combined financing approach will provide the necessary liquidity to support the acquisition and ensure smooth operations post-acquisition. Any lender willing to look at this please email at mail@fastfinancing.org
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Yesterday, 06:08 PMAll different EINs, all same biz type (medical). FICO is 740 but TIB is just under 2 years so SBA isn't super realistic. Rev is solid, not looking to add another position but hoping I can get a reverse offer.
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Yesterday, 05:07 PMThese people deceived my company into making us think they were direct lender. If you want to get your deal shopped go with them. Jarret Wietz is a liar and a deciever.
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Yesterday, 04:53 PMAre they all different eins? Are they all different biz types?
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Yesterday, 04:45 PMIs revenue down? seems like they need to use their reconciliation provision, not take another position.
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Yesterday, 04:44 PMHow long is TIB, what is the industry and what is the Experian FICO score?
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Yesterday, 04:43 PMJasonBishop replied to a thread It's The End Of The Month, Time to Fire Your Lead Supplier in PromotionsCheers to you. Hopefully no one got fired today. Keep up the great work. Follow for a Follow MK! https://www.instagram.com/leadtycoons
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Yesterday, 04:39 PMMerchant has none of those unfortunately, also has too low TIB to pursue an SBA 7(a) loan. As things look right now, reverse seems to be the only options here.
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Yesterday, 04:37 PMDoes your client have any assets to do ABL? equipment free and clear? Real Estate with equity? 4 positions in multiple entities - he needs to hire a remote CFO.
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Yesterday, 04:32 PMTry these: Menachem at Caplitalize Group at 347.519.2822 - Marcus at Capaybara 561.404.1674
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Yesterday, 04:10 PMPopCrumbs replied to a thread It's The End Of The Month, Time to Fire Your Lead Supplier in PromotionsAre you following us on Instagram? https://www.instagram.com/we_grow_businesses/
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Yesterday, 04:07 PMFound is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. If the business accepts credit cards - split funding may be an option.
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Yesterday, 04:01 PMHey guys, Have a merchant with multiple related businesses. Has 4 positions across all of them. His cashflow is taking a beating, and he's extremely interested in pursuing a reverse. The problem is, each position is under a different entity. Would any reverse lenders touch this?
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Yesterday, 03:46 PMI know nexi will do it after they see no disbursement for a week (funded a 300 and change deal with them like this), but they provided new money (it was a low amount. Not 85k). If he wants 85k, imo, go to silverline and nexi from my exp doing this, get it approved, ask the max $ amount you can stack since he needs $ and if they'll still reverse pending bank balances. If all else fails theres a ton of funders that'll stack a side account. 85k would be a lot but its a 5th so im sure you'll get close to it.
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Yesterday, 03:44 PMhttps://www.teslarati.com/hackers-demand-massive-ransom-as-cyberattack-plagues-auto-dealerships/ One of the main backbones of anything that has anything to do with cars has a $50mm ransom they might need to pay. They got hit with a massive ransomware attack. You might want to be careful funding any of them, or from the other angle, you might want to give them a week before you start payments, since they might NEED the extra cash now!