Funded a merchant 50k last month and he's shopping around for an LOC that got shopped back to me today. What can this merchant expect to get? He does 50-60k a month.
Printable View
Funded a merchant 50k last month and he's shopping around for an LOC that got shopped back to me today. What can this merchant expect to get? He does 50-60k a month.
A true LOC would be with BlueVine, Headway, or Idea but none would take a second position and there likely isn't enough of a seasoning period from the funding last month to warrant a buyout of the existing first position.
An option could be a "strategic line of credit" through the credit card stacking program that Seek or Torro offer, if the merchant has strong credit.
Add midwest capital to torro...i believe they usually offer more. Business credit cards...crefit minimum 700...other factors matter. The big factor is what percentage of usage are they at
Lowkey seems like he was told he would get a credit line a month after taking your deal.. In addition to golf's reply- all payments among other variables are calculated in the risk assessment- advances, loans, leases, etc. If you do get an offer I wouldn't expect more than 5-10k.