Results 1 to 9 of 9
-
11-05-2017, 12:25 PM #1
- Join Date
- Nov 2016
- Posts
- 166
LLC question
.....
Last edited by swiftcloser; 01-28-2020 at 10:08 AM.
-
11-05-2017, 12:53 PM #2
- Join Date
- Feb 2017
- Posts
- 3,463
0 APR business credit cards, just use him as the personal guarantor. Much better rates, probably more money, much better terms.
Why do you feel the need to give him an MCA? Just because you may or may not make more money?
Removing her from the LLC won't help 100% if she's on the taxes. If he can refile the 2016 taxes with her as <5% owner, maybe an SBA might also work out? Some funders ask for history of ownership.
-
11-05-2017, 01:25 PM #3
- Join Date
- Nov 2016
- Posts
- 166
.....
Last edited by swiftcloser; 01-28-2020 at 10:07 AM.
-
11-05-2017, 01:46 PM #4
- Join Date
- Feb 2017
- Posts
- 3,463
Business cards take ONE owner into account.
You have to know how to do them, that's where I can help you be of service. I've seen clients try themselves and kill themselves for 6-12 months. The inquiries need to be in the right order, and before the MCAs funders come in! I'll make some intros for you, send me an email.
125k+ is aggressive - If you want to do them a service, do the business cards and then go for the MCA to top them off, rather than stack and stack. Then you sell them credit repair (I can also help you with that one, BTW). Everyone wins. Then they'll in business long enough that they'll come back to you.
-
11-05-2017, 04:40 PM #5
- Join Date
- May 2017
- Posts
- 350
Sign up with Gotorro or Seek if you're looking for cc's
I use gotorro and they've upped my % from 2.5% to 4% on all the referrals. They do all the work for you, charge 10, you walk away with 4, and your files safe. They're quick too.
I suggest also charging an initial 3% fee once funded, on top of the 10 they charge and pay u out of to make more $$.
-
11-06-2017, 09:54 AM #6
- Join Date
- Jun 2017
- Posts
- 2,049
-
11-14-2017, 03:24 PM #7
do they owner 50/50% ownership of the company?
If applying for a MCA chances are the funder will want 51%+ of ownership on their contract. If you're worried about it being decline for her poor credit, DON'T! Most will over look this as the other applicant has 700+ credit.
If you are wondering how to apply with only one owner still, then just have them make an operating agreement notarized by both parties stating that merchant #1 owns majority of business shares. that will be all you need for proof of ownership.Anthony Diamond
Underwriter
-
11-15-2017, 10:57 PM #8
i wouldn't remove them from the LLC right away- Underwriters will notice it and throw up red flags.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
-
11-26-2017, 11:46 PM #9
- Join Date
- Sep 2017
- Posts
- 2
Similar Threads
-
Question
By FSB in forum Deal BinReplies: 1Last Post: 10-12-2017, 06:29 PM -
i have question about ISO
By Nobsfunding in forum Deal BinReplies: 9Last Post: 09-06-2017, 07:01 PM -
Question
By Kevin Henry-Seacoast in forum Everything elseReplies: 0Last Post: 06-23-2017, 10:47 AM -
Question
By FSB in forum Deal BinReplies: 3Last Post: 04-03-2017, 08:55 AM -
ISO Question
By CLucas in forum All Other LendingReplies: 0Last Post: 07-29-2015, 11:31 AM