Results 1 to 19 of 19
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11-16-2017, 06:18 PM #1
- Join Date
- May 2014
- Location
- California
- Posts
- 349
50K Loan Requested For E-commerce Business
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.
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11-16-2017, 07:34 PM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,995
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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11-16-2017, 07:48 PM #3
- Join Date
- Mar 2016
- Posts
- 186
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11-16-2017, 08:03 PM #4
- Join Date
- May 2014
- Location
- California
- Posts
- 349
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.
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11-16-2017, 09:44 PM #5
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
try Sterling - no fees
Shannon Harris
Funding Specialist
888-705-8818 phone
239-790-2664 fax
Shannon@StellarBusinessFunding.com
www.stellarbusinessfunding.com
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11-16-2017, 11:46 PM #6
- Join Date
- Feb 2017
- Posts
- 3,463
Did you try Snap or Lendr?
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11-17-2017, 01:04 AM #7
- Join Date
- May 2014
- Location
- California
- Posts
- 349
Good ideas, I will check into Snap and Lendr and Sterling. Thanks. That's what I come here for. Good information.
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11-17-2017, 10:33 AM #8
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,995
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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11-17-2017, 10:48 AM #9
- Join Date
- Jul 2015
- Posts
- 168
PM'd you. We specialize in e-commerce deals, and can do monthly's on the right deal.
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11-17-2017, 12:19 PM #10
- Join Date
- May 2014
- Location
- California
- Posts
- 349
Yes, his cc go through PayPal
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11-17-2017, 02:45 PM #11
- Join Date
- Jun 2017
- Posts
- 2,049
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.Last edited by ryan $; 11-17-2017 at 02:51 PM.
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11-17-2017, 03:35 PM #12
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
Nice! I love the idea of holding the domain hostage.. that's powerful.. Do you get any pushback from online merchants about this?
Shannon Harris
Funding Specialist
888-705-8818 phone
239-790-2664 fax
Shannon@StellarBusinessFunding.com
www.stellarbusinessfunding.com
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11-17-2017, 06:01 PM #13
- Join Date
- May 2014
- Location
- California
- Posts
- 349
He got declined through IOU Financial. Will have to go MCA route through Snap or Lendr it appears.
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11-19-2017, 03:47 PM #14
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
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.
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11-19-2017, 03:48 PM #15
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
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11-20-2017, 12:06 AM #16
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11-20-2017, 09:58 AM #17
- Join Date
- Jun 2017
- Posts
- 2,049
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11-20-2017, 12:40 PM #18
- Join Date
- May 2014
- Location
- California
- Posts
- 349
yes, he is with PayPal. Thanks for the guidance
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11-20-2017, 12:49 PM #19
- Join Date
- May 2014
- Location
- California
- Posts
- 349
I told him to go through Paypal.
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