Results 1 to 22 of 22
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04-04-2018, 11:30 AM #1
Reputation points: 203690
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stips getting kind of wild for a 15k deal shheeeshh
I know lenders are tightening up but on a 15k deal signed contracts back and lender hits me with this outstanding stip list. I know a few are standard...but Financials and AR for 15k 2nd?!?!?
Outstanding:
-Business License
-Lease & LL Contact
-Financials & AR Contacts
-EINs for All Active Entities
-Credit card statements (IF ANY)
-Pictures of Location, signage, inventory
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04-04-2018, 11:33 AM #2
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yeah, i am seeing crazy stips for tiny deals as well.
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04-04-2018, 11:35 AM #3
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Had a similar thing happen with a gym a few months ago. Second position 12/13k ish, UW wanted YTD P&L/M&E/Balance sheet with the normal stip list. For a 4 mo 1.44.... I am pretty sure they didn't want the deal and threw that list at me so I would send it somewhere else...
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04-04-2018, 11:38 AM #4John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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04-04-2018, 11:49 AM #5
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Financials and A/R for a $15k deal? Lmao.
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04-04-2018, 12:12 PM #6
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04-04-2018, 12:13 PM #7John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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04-04-2018, 12:14 PM #8
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04-04-2018, 12:45 PM #9Disclaimer
This message brought to you by:
CraaaCraaa Radio ®
http://debanked.com/merchant-cash-ad...nce-directory/
World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
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04-04-2018, 12:46 PM #10Karen37aGuest
They might be out of money...funding allocation and stip you to death to stall you as they take the deal out the backdoor.
Lock the merchant down and hold on tight, you are in for a bumpy ride
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04-04-2018, 01:09 PM #11
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- Jan 2018
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04-04-2018, 01:13 PM #12Karen37aGuest
lol not always but it depends on the dollar amount and the "algorithms"...I was lucky to work for stipilicious so we get almost all the docs in( prepare for more) then send...so bing bam boom funded
There are a few funders that I am not scared to let the deal hang...some ...whooosh in and out
** when I am typing on the Df my deals are stuck in underwriting and I am trying to not lose my mind, with brokers calling, merchants ...when are we going to get the monney when when when, thenwhen am i getting paid when am i getting paid , paid paid paid,paidLast edited by Karen37a; 04-04-2018 at 01:18 PM.
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04-04-2018, 02:18 PM #13
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04-04-2018, 02:35 PM #14
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04-04-2018, 03:27 PM #15Disclaimer
This message brought to you by:
CraaaCraaa Radio ®
http://debanked.com/merchant-cash-ad...nce-directory/
World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
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04-04-2018, 03:52 PM #16
Reputation points: 1910
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- Apr 2017
- Posts
- 66
TVT or Argus?
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04-04-2018, 04:03 PM #17
Reputation points: 71352
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- Mar 2016
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CFG Only requires Voided Check, Proof of Ownership and Driver's License - COJ Every once in a while.
Thank you,
Lior Monus
CFG Merchant Solutions
Direct: 516-319-5826
Lmonus@cfgms.com
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04-04-2018, 04:23 PM #18Disclaimer
This message brought to you by:
CraaaCraaa Radio ®
http://debanked.com/merchant-cash-ad...nce-directory/
World of MCA
E.V.P Business Development
___________________________
"Success is a lousy teacher. It seduces smart people into thinking they can't lose."
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04-04-2018, 06:26 PM #19
ooops! lenders going crazy.
Patrick Wilson
Managing Partner
www.PremierCapitalNetwork.com
(NO MORE LENDER/FUNDER CALL PLZ)
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04-05-2018, 09:44 AM #20
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retail, 4, 640
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04-05-2018, 04:58 PM #21
Reputation points: 3376
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- Nov 2016
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- 90
That funder will be out of business in two months.
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04-05-2018, 05:01 PM #22
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