Home needed: Salon with poor credit
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  1. #1
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    Home needed: Salon with poor credit

    I have tried snap and SOS and they both declined due to poor credit....so her credit must be bad. I know there are no judgements, bk, tax lein issues. Local spa and salon for me, and they just paid off cap assist on 7/13. They have since added salons as a restricted industry. AVG. 16k/month gross. Looking for 10K. Elevate does not do salons, I know mcg would take a look at it but that would be last resort.

  2. #2
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    Quote Originally Posted by AMERICApital1 View Post
    I have tried snap and SOS and they both declined due to poor credit....so her credit must be bad. I know there are no judgements, bk, tax lein issues. Local spa and salon for me, and they just paid off cap assist on 7/13. They have since added salons as a restricted industry. AVG. 16k/month gross. Looking for 10K. Elevate does not do salons, I know mcg would take a look at it but that would be last resort.
    give ufs a try irving@ufsfunding.com or 646 460 3139
    Irving Winograd
    Unique Funding Solutions
    646-460-3139

  3. #3
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    Quote Originally Posted by AMERICApital1 View Post
    I have tried snap and SOS and they both declined due to poor credit....so her credit must be bad. I know there are no judgements, bk, tax lein issues. Local spa and salon for me, and they just paid off cap assist on 7/13. They have since added salons as a restricted industry. AVG. 16k/month gross. Looking for 10K. Elevate does not do salons, I know mcg would take a look at it but that would be last resort.
    How many years in business?
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  4. #4
    Senior Member Reputation points: 49585 CraaaCraaa Radio's Avatar
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    While you search for years in business, check out the following:

    Max Advance (Way better than Snap)
    Cooper Asset
    Vital
    Infiniti
    Wide
    Knight
    CFG
    TVT

    Also ask the merchant to request the payment history from cap assist to use as leverage with underwriters and also have the merchant get a zero balance letter as well.
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  5. #5
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    POOR CREDIT alone not an issue at cresthill/Mantis!
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
    覧覧覧覧覧覧覧覧覧覧覧覧覧
    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  6. #6
    Thanks, I guess....... We are alive and well.
    Andrew Roberts
    Merchant Cash Group
    212 532 9200
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  7. #7
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    I just wanted to clarify that salons are not restricted at Elevate, just nail salons. This is just based on the performance history of other nail salons we've funded in the past.

  8. #8
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    Over 1 year in business. Max does not offer what snap will offer, they are more high risk than snap....not sure how one would say they are better.

  9. #9
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    Marcus - I just shot the file over to Adam S.

  10. #10
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    Quote Originally Posted by AMERICApital1 View Post
    I have tried snap and SOS and they both declined due to poor credit....so her credit must be bad. I know there are no judgements, bk, tax lein issues. Local spa and salon for me, and they just paid off cap assist on 7/13. They have since added salons as a restricted industry. AVG. 16k/month gross. Looking for 10K. Elevate does not do salons, I know mcg would take a look at it but that would be last resort.

    You basically just said publicly "I know MCG is desperate A F but they're dog**** and I'd rather use anyone else"

    Sorry for the burn Andrew! Geez

  11. #11
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    No no no, Andrew and I have been good friends for about 3 or 4 years now. This merchant needs someone similar to how they don't factor in credit, without the riskier terms and rates. The credit is the only thing holding this merchant back.

  12. #12
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    Quote Originally Posted by AMERICApital1 View Post
    No no no, Andrew and I have been good friends for about 3 or 4 years now. This merchant needs someone similar to how they don't factor in credit, without the riskier terms and rates. The credit is the only thing holding this merchant back.
    Glad you cleared that up, I was like daaaaaaayummm that's mean!

  13. #13
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    lol I diddn't mean it to come off that way to anyone, should have clarified. mcg is great for that aspect of this file is why I mentioned them, but they qualify for a different product in other areas.

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