Business age only 2 months
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  1. #1
    Member Reputation points: 41 tamerica's Avatar
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    Question Business age only 2 months

    Most products I have require at least 3 bank statements, are there any who will lend to one in business only 2 months?

    Deposits 23K and 68K. Merchant requests 5 to 7K, will accept a starter

    Business type: Travel telemarketing

    Thanks

  2. #2
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    Any credit card processing?
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  3. #3
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    We have funded businesses with 10 weeks of transaction volume.
    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
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    Quote Originally Posted by Yankeeman07 View Post
    Any credit card processing?
    No they are paid by clients with wires.

  5. #5
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    Quote Originally Posted by mcaguru View Post
    We have funded businesses with 10 weeks of transaction volume.
    10 weeks = 2.5 months
    Question by broker 2 months in business
    Call Mantis direct and ask minimum amount of months they will say 4-6 months!

  6. #6
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    Quote Originally Posted by Cashman1 View Post
    10 weeks = 2.5 months
    Question by broker 2 months in business
    Call Mantis direct and ask minimum amount of months they will say 4-6 months!
    I typically don't send files to Cresthill/Mantis because they won't accept e-sign pre-apps and they do hard pulls, but I will try it on this one.

  7. #7
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    I am mantis and the will probably say 3 months... i am saying that in reality its 3 months on bank statements but first 2 weeks can be blank with no activities. so if underwriters saw nov,dec,jan(example months), and Nov restaurant had first transactions on the 18th we will still make an offer.
    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

  8. #8
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    Good news in the works on all fronts.
    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

  9. #9
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    Quote Originally Posted by tamerica View Post
    Most products I have require at least 3 bank statements, are there any who will lend to one in business only 2 months?

    Deposits 23K and 68K. Merchant requests 5 to 7K, will accept a starter

    Business type: Travel telemarketing

    Thanks
    Midnight will fund this.
    High risk paper

  10. #10
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    Quote Originally Posted by MidnightAdvance View Post
    Midnight will fund this.
    Let Marcus have this one, it’s his first time begging for a file!

  11. #11
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    LoanMe

  12. #12
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    Quote Originally Posted by ryan $ View Post
    LoanMe
    Unfortunately Loanme does not do NV

  13. #13
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    Quote Originally Posted by MidnightAdvance View Post
    Midnight will fund this.
    Dave declined it due to 2 months in business. lol.

  14. #14
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    Thanks to Blue Rock Capital for funding this deal quickly and smoothly! Isn't a perfect fit but they figured out how to make it work. Thanks guys.

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