Transportation Co. Needs $30K but Not paying more than $225/day
Need a Funder or Vendor? START HERE

Results 1 to 9 of 9
  1. #1
    Senior Member Reputation points: 20465 Fundyman's Avatar
    Join Date
    Dec 2013
    Posts
    713

    Transportation Co. Needs $30K but Not paying more than $225/day

    Here's what I got:

    • TIB: 15 yrs
    • Credit: poor but above 500
    • avg deposits: $44K
    • avg # of dep: 3; straight contracted from USPS
    • Neg days: 7 in last 3 months; 6 were last month
    • Prior approvals: $30K 1.45 on 83 pmts
    • Accepted: No; due to short term.


    What I need is a high risk lender who can get this done at 8 months. Don't need weekly payments; low factor; free money. Just longer term.
    Need funds yesterday. Please PM now or let me know who can get this done without the bullcrap. $225/day means $36,000 in about 8 months.

    Merchant is okay with taking less funds; main important part is not paying more than $4,500/month.
    If you can do or know the funder who can do $25K @ 1.45 with those parameters, and still pay some decent points, we're good to go.

  2. #2
    Senior Member Reputation points: 11170
    Join Date
    May 2017
    Posts
    350

    Quote Originally Posted by Fundyman View Post
    Here's what I got:

    • TIB: 15 yrs
    • Credit: poor but above 500
    • avg deposits: $44K
    • avg # of dep: 3; straight contracted from USPS
    • Neg days: 7 in last 3 months; 6 were last month
    • Prior approvals: $30K 1.45 on 83 pmts
    • Accepted: No; due to short term.


    What I need is a high risk lender who can get this done at 8 months. Don't need weekly payments; low factor; free money. Just longer term.
    Need funds yesterday. Please PM now or let me know who can get this done without the bullcrap. $225/day means $36,000 in about 8 months.

    Merchant is okay with taking less funds; main important part is not paying more than $4,500/month.
    If you can do or know the funder who can do $25K @ 1.45 with those parameters, and still pay some decent points, we're good to go.
    I can get you something at 10-12m if credit is over 550. 40k-44k, 1st pos.

    If you want to co broker give me a shot and I'll help.

  3. #3
    Senior Member Reputation points: 54977
    Join Date
    Dec 2013
    Posts
    4,713

    Does he melt at $250 ? anyway try cresthill...
    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

  4. #4
    Senior Member Reputation points: 5479
    Join Date
    Apr 2017
    Location
    Dallas
    Posts
    183

    Quote Originally Posted by mcaguru View Post
    Does he melt at $250 ? anyway try cresthill...
    is it going to have 8 points and 10 if we PFS the deal. Deal is going to be a 1.49 and COJ

  5. #5
    Senior Member Reputation points: 5479
    Join Date
    Apr 2017
    Location
    Dallas
    Posts
    183

    Quote Originally Posted by Fundyman View Post
    Here's what I got:

    • TIB: 15 yrs
    • Credit: poor but above 500
    • avg deposits: $44K
    • avg # of dep: 3; straight contracted from USPS
    • Neg days: 7 in last 3 months; 6 were last month
    • Prior approvals: $30K 1.45 on 83 pmts
    • Accepted: No; due to short term.


    What I need is a high risk lender who can get this done at 8 months. Don't need weekly payments; low factor; free money. Just longer term.
    Need funds yesterday. Please PM now or let me know who can get this done without the bullcrap. $225/day means $36,000 in about 8 months.

    Merchant is okay with taking less funds; main important part is not paying more than $4,500/month.
    If you can do or know the funder who can do $25K @ 1.45 with those parameters, and still pay some decent points, we're good to go.
    have you tried Expansion Capital Group- ECG

  6. #6
    Banned Reputation points: 179851
    Join Date
    Jun 2017
    Posts
    2,049

    20k PB 29,000 @ $281 A Day work

    Wtf is this? Adjust the numbers you have and sell him, on to the next. Get your lender to extend 1 month (shouldnt be that hard if you have any sort of relationship)

    Slide. Whatever.

    If he cant budge a few bucks and make it work....F Him.

  7. #7
    Senior Member Reputation points: 20465 Fundyman's Avatar
    Join Date
    Dec 2013
    Posts
    713

    Quote Originally Posted by johndough17 View Post
    I can get you something at 10-12m if credit is over 550. 40k-44k, 1st pos.

    If you want to co broker give me a shot and I'll help.
    Thanks. I'm already looking at some options, & it seems we're getting there today. She's obviously not in a rush. Neither am I. If I can't figure it out today, I'll give you a shot.

  8. #8
    Senior Member Reputation points: 20465 Fundyman's Avatar
    Join Date
    Dec 2013
    Posts
    713

    Quote Originally Posted by Nikkiclean06 View Post
    have you tried Expansion Capital Group- ECG
    Haven't tried, but thanks. The only problem is signing up as an ISO w/ a new funder just for the sake of a deal, then that funder expects volume from you. We're not a powerhouse yet, so I hate to build relationships I can't then flood with apps...

  9. #9
    Senior Member Reputation points: 20465 Fundyman's Avatar
    Join Date
    Dec 2013
    Posts
    713

    Quote Originally Posted by ryan $ View Post
    20k PB 29,000 @ $281 A Day work

    Wtf is this? Adjust the numbers you have and sell him, on to the next. Get your lender to extend 1 month (shouldnt be that hard if you have any sort of relationship)

    Slide. Whatever.

    If he cant budge a few bucks and make it work....F Him.
    Not that easy, Ryan. 1st of all, I'm dealing w/ a "she." 2nd, she's not taking the money to expand & thus increase gross revenue. So it's not so easy to just sell the product at hand; otherwise, it would have been funded already, and perhaps that would have been the last funding w/ that client.

    I'm looking with a few more aggressive lenders to get the right product. Hopefully, by the end of the day, I'll have it.

Similar Threads

  1. Paying up to 14 points
    By PDM Cap in forum Promotions
    Replies: 1
    Last Post: 06-05-2017, 04:35 PM
  2. 3 Positions, but paying off one or 2
    By loan in forum Deal Bin
    Replies: 14
    Last Post: 05-28-2015, 11:24 PM
  3. Paying off Ondeck
    By loan in forum Merchant Cash Advance
    Replies: 11
    Last Post: 05-04-2015, 03:03 PM
  4. Paying off 1st position
    By mca123 in forum Merchant Cash Advance
    Replies: 13
    Last Post: 12-03-2014, 09:28 AM
  5. Paying .50 on the dollar..
    By ixpressions in forum Merchant Cash Advance
    Replies: 5
    Last Post: 11-21-2014, 05:54 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Pipe secures $100M credit facility
Cloudsquare: 14 new lender APIs
FundKite survey finds 77%


DIRECTORY