[JD-Strategic]

got a file that legitimately checks off every **** file box. negative days, sub 500 credit score, california, manufacturing, and a default.

who would fund this bad boy?

[abfunders]

Did you try a factoring company?

[JD-Strategic]

nope, got any decent recommendations?

[RichardGerard]

JD...

Micah's point is to start looking at the balance sheet for solutions. Manufacturers typically have M&E, Inventory, and Receivables to leverage- if they aren't already pledged.

17 Year End P and L and Balance Sheet are the place to start (with a debt schedule of advances).

FICO score and negative days are not all encompassing for an ABL credit facility..

Feel free to contact Micah or the other folks here that are versed in how to potentially handle this type of thing..

RG 516 510 3855

www.businesscapitalconsultants.com

[MidnightAdvance]

got a file that legitimately checks off every **** file box. negative days, sub 500 credit score, california, manufacturing, and a default.

who would fund this bad boy?

If the guy does big rev we'll do it. Short term though.

[abfunders]

nope, got any decent recommendations?

I do! I sent you a PM.

Factoring companies don't work with your client's credit, they work with the business credit of the clients they are billing.

You should also look into finding a way to monetize on credit repair. I can help you out with that, too.

[Cashman1]

got a file that legitimately checks off every **** file box. negative days, sub 500 credit score, california, manufacturing, and a default.

who would fund this bad boy?

This inst a deal its more like toilet paper.
However, I would try Mantis or Prosperum.

[mcaguru]

thanks for the PLUG we have thousands of actual merchants. I would not call merchant ever toilet paper...just because someone has poor credit and high NSF's does not mean that hes not in need of some short term capital.

[abfunders]

Did you try Elevate? Sub-500 FICO. Here's a file we're currently working with:

Elevate: $6,400.00, payback 1.41, $107.00, 84 payments. $200 setup fee, no other fees.
Mantis: $6250, 1.48, 71 days, $139 daily -> Probably a standard 5% minimum fee.

Elevate pays 7 points (on the payback) and they renew with 30% once they've seen 3 weeks paid back (paying 5 points). Renewals are 4.5% on the payback amount.
In 3 weeks, merchant will get $1920. Total payout in 3 weeks? 6400*1.41*.07+1920*.05 = $727.68. (CORRECTED according to Elevate's corrections below)

Mantis @ 10 points pays $625.

Contracts with DL, VC, BL, landlord contact.

[Cashman1]

thanks for the PLUG we have thousands of actual merchants. I would not call merchant ever toilet paper...just because someone has poor credit and high NSF's does not mean that hes not in need of some short term capital.

The guy defaulted smartly pants! Next time read the fine print!
I know your going to tell me you fund defaults also but let’s not kid yourself!

[HeatherF]

Did you try Elevate? Sub-500 FICO. Here's a file we're currently working with:

Elevate: $6,400.00, payback 1.41, $107.00, 84 payments. $200 setup fee, no other fees.
Mantis: $6250 1.48 71 days 139 daily -> Probably a standard 5% minimum fee.

Elevate would pay 7 points and Elevate renews with 30% once they've seen 3 weeks paid back (paying 5 points)
$1920. Total payout in 3 weeks? 6400*.07+1920*.05 = $544.

Mantis @ 10 points pays $625.

Then you have to balance Which advance is better for the client vs Which advance is better for your pocket? At $81 less, for even the greedy ones, I say go with Elevate. They'll fund with DL, VC, BL, landlord contact.

Remember Elevate is 7% on payback so your commission is actualy 631.68 ... It is the 9024*.07

[abfunders]

Remember Elevate is 7% on payback so your commission is actualy 631.68 ... It is the 9024*.07

Wow..... that's much nicer. Nice try Mantis, Elevate all the way. Really really fast UW, too!

Do you pay the 5% of the "Flex Funds" (since this client is Tier 2) on the payback or on the disbursement?

[HeatherF]

We pay that on the funded as it is an add-on to the original advance, but all other commission structures are on the payback amount. We like to keep things simple and not have all these complicated offers with different buy rates and commission structures.

[kpeng]

Good looking out Micah! And like Heather said, yes...we pay 7% on the payback amount

[ABL Rob]

This Client might be a better fit for A/R financing if they have B2B or Govt receivables.
I am not concerned about credit score, or bank statements - we look at the A/R.
Send me a pm or give me a call or email, and I'll be happy to discuss.

AmeriFactors Financial Group is a DIRECT LENDER and has funded over $5BILLION since 1990.
We offer:
• NON-Recourse Factoring
• PO Funding
• Asset Based Lending (ABL)

We pay brokers recurring monthly residual commissions, on deals funded.

Rob Brownell
Amerifactors Financial Group
215 Celebration Place, Suite 340, Celebration, FL 34747
p: 772-419-8606
e: rbrownell@amerifactors.com

[Michael I]

first position elevate hands down better . 2-10 elevate does not do so mantis has that

[mcaguru]

An ISO just pointed at to me (who works with elevate BTW elevate are good people!) that MANTIS will vast majority of times make an offer on an elevate (and for that matter most other funders )declines so your example holds water on that specific case.

[abfunders]

An ISO just pointed at to me (who works with elevate BTW elevate are good people!) that MANTIS will vast majority of times make an offer on an elevate (and for that matter most other funders )declines so your example holds water on that specific case.

Which ISO? Why can't they post it themselves?

[Cashman1]

Which ISO? Why can't they post it themselves?

Because he is full of crap!

[mcaguru]

Ill tell you why.... that specific guy oversees one of the largest brokerage firms in MCA and hes well respected and hes not looking to get into a snowball fight by pointing out a minute little fact. (that MANTIS makes offers on a big portion of declined deals). He would know he has 100+ on his floors.

[abfunders]

Ill tell you why.... that specific guy oversees one of the largest brokerage firms in MCA and hes well respected and hes not looking to get into a snowball fight by pointing out a minute little fact. (that MANTIS makes offers on a big portion of declined deals). He would know he has 100+ on his floors.

Ah - So you're tooting your own horn? Are you talking about Cresthill, your broker wing?
As long as people know you exist and remember to send you files Marcus, keep on hijacking the forums....

[Michael I]

as much as i fight and cant stand marcus ( who hung up on me twice yesterday and never returns my call ), there is alot of elevate declines that mantis will fund . 2nd plus positions . lower volume deals and extremely high volume deals . lower deposit counts . and of course vice versa

[mcaguru]

Thanks Michael .... (Did i hang up?).........

Micah....Seems like you're pretty active on here....

[Michael I]

Thanks Michael .... (Did i hang up?).........

Micah....Seems like you're pretty active on here....

yup sounded like you answered and were trying to forward it

[mcaguru]

could be ... very hectic these days.... next venture will be renting bikes at some Australian beach ...