[Shorebird]

E commerce business that does 50k per month in cc wants 50k to buy inventory.

Wants 12 months, monthly payments and no early pre payment penalties.

Owner has FICO in low 600's.

[Yankeeman07]

E commerce business that does 50k per month in cc wants 50k to buy inventory.

Wants 12 months, monthly payments and no early pre payment penalties.

Owner has FICO in low 600's.

FICO Score may be an issue, but may be able to offer a solution.

Contact me.

[mikem]

E commerce business that does 50k per month in cc wants 50k to buy inventory.

Wants 12 months, monthly payments and no early pre payment penalties.

Owner has FICO in low 600's.

LOL, early pre payment penalty. I could actually see D paper funders putting early prepayment penalties one day. What else does the merchant want BTW? Black Friday is next week.

[Shorebird]

Yeah I know, just was seeing what kind of help I could get. IOU Financial has no prepayment deal. But they have origination fees. Probably go that route. He is looking at a PayPal Business Loan.

[SBF]

try Sterling - no fees

[abfunders]

Did you try Snap or Lendr?

[Shorebird]

Good ideas, I will check into Snap and Lendr and Sterling. Thanks. That's what I come here for. Good information.

[Yankeeman07]

E commerce business that does 50k per month in cc wants 50k to buy inventory.

Wants 12 months, monthly payments and no early pre payment penalties.

Owner has FICO in low 600's.

Is his credit card processing with PayPal?

[Lendvo]

PM'd you. We specialize in e-commerce deals, and can do monthly's on the right deal.

[Shorebird]

Yes, his cc go through PayPal

[ryan $]

I have a proprietary way I lend to Businesses with Online based businesses.

I asses value based on their website. I don't even have to see the deal. Give me the Average monthly Sales. What portion is CC's. How they accept CC's....

And... give me their URL.

I will let you know what I can do.

** Edit. Since he Processes with PayPal....

I will have him sign up for recurring monthly payments with paypal. If he misses a payment or blocks it.... we charge his Debit Card (plus a $35 fee for each occurrence)

He has to Transfer his Website Domain (he can keep hosting the same. Just his Domain... to our Registrar. If he defaults...we take his Domain and auction it off. Think of it as his domain being held in escrow.... his hosting, security....everything else is the same. If they understand tech.....this is seamless.

Having this leverage allows us to do long term low rate programs. His domain has to justify the risk. That is all.

[SBF]

Nice! I love the idea of holding the domain hostage.. that's powerful.. Do you get any pushback from online merchants about this?

[Shorebird]

He got declined through IOU Financial. Will have to go MCA route through Snap or Lendr it appears.

[Davincinc]

if paypal if their the cc processor, then noone will do it without a lockbox and redirection of those transactions. Move to the next deal. Paypal would probably offer him a loan before you fund this one.

[Davincinc]

I have a proprietary way I lend to Businesses with Online based businesses.

I asses value based on their website. I don't even have to see the deal. Give me the Average monthly Sales. What portion is CC's. How they accept CC's....

And... give me their URL.

I will let you know what I can do.

** Edit. Since he Processes with PayPal....

I will have him sign up for recurring monthly payments with paypal. If he misses a payment or blocks it.... we charge his Debit Card (plus a $35 fee for each occurrence)

He has to Transfer his Website Domain (he can keep hosting the same. Just his Domain... to our Registrar. If he defaults...we take his Domain and auction it off. Think of it as his domain being held in escrow.... his hosting, security....everything else is the same. If they understand tech.....this is seamless.

Having this leverage allows us to do long term low rate programs. His domain has to justify the risk. That is all.

what keeps you from just keeping the domain and claim ownership and take it over if thats the case?

[bankergirl]

LOL, early pre payment penalty. I could actually see D paper funders putting early prepayment penalties one day. What else does the merchant want BTW? Black Friday is next week.

Lol....

[ryan $]

what keeps you from just keeping the domain and claim ownership and take it over if thats the case?

Contracts.

I mean.... and the fact we have an agreement and we are not criminals.

[Shorebird]

yes, he is with PayPal. Thanks for the guidance

[Shorebird]

I told him to go through Paypal.