I have a few merchants who defaulted on a tier 1 lender over a year or more ago. He has a solid business and is looking for a decent deal. Averages about 50k plus monthly daily balance average $3000 more daily its a landscaping business
I have a few merchants who defaulted on a tier 1 lender over a year or more ago. He has a solid business and is looking for a decent deal. Averages about 50k plus monthly daily balance average $3000 more daily its a landscaping business
Let's see, CAN UCCs?
I had someone like that, he told me he had defaulted on 2 advances over 6 months ago and can gave me numbers and funded smoothly but can't exactly send to can nowQuote:
Originally Posted by Pbs
I have a strong deal, same scenario, defaulted 2 months ago on 2'nd position. Is settling account. Pays 1st position like a champ, strong 100k+, where can I go with this. Thanks
Is this merchant comfortable with a 1.49 over 60 payments and a COJ? No? Would you syndicate ?
I can get these types of files funded for you. If shoot me an email, I'll be happy to get an ISO agreement out to you.
What's wrong with your website? Doesn't seem to be working..Quote:
Originally Posted by AaronC
what makes this such a "Solid business"? What do you know about it other than his last few months bank statements?Quote:
Originally Posted by Pbs
A business who defaults on a loan is not so "solid". lmfao
Lol. A business that defaulted before, yet still looking for more advances? Solid!Quote:
Originally Posted by ridextreme
Why would you fund a merchant that defaulted ? They don't care about you, They're just going to do it again.
Defaulting on an advance has minimal affect on factoring their receivables. if they would qualify for factoring we can usually work with other borrowers to get a first lien position and help them get paid while providing the client with a credit line.
Bob Shaw
rshaw@ironhorsecredit.com
734-929-3800