[Sachip24]

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

[skideeppow]

yeah, i am seeing crazy stips for tiny deals as well.

[nrh1lp]

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...

[fundingsmbs]

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...

it happens. easier to just tell you the deal is not in their appetite to fund than send you a laundry list like that which they know you wont get nor the merchant for that size deal.

[nrh1lp]

it happens. easier to just tell you the deal is not in their appetite to fund than send you a laundry list like that which they know you wont get nor the merchant for that size deal.

Agreed. That one ended up at cresthill, they basically gave them same offer but with a reasonable stip list.

[J.Celifarco]

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

that is a bit excessive.. What lender???

[gaxisa]

that is a bit excessive.. What lender???

TVT. Disregard most of them and they'll push it through.

[WestCoastFunding]

Financials and A/R for a $15k deal? Lmao.

[Sachip24]

Financials and A/R for a $15k deal? Lmao.

15k 2nd over 3.5months... and they want P&L, Balance sheet, Tax returns, aging report, inventory list after i get signed contracts back with COJ .. like wtf

[J.Celifarco]

15k 2nd over 3.5months... and they want P&L, Balance sheet, Tax returns, aging report, inventory list after i get signed contracts back with COJ .. like wtf

thats bat **** crazy

[RickyR3712]

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

next lender . do not waste your time

[CraaaCraaa Radio]

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

What is industry type?

How many years in business?

Merchant FICO?

Please answer those three honestly

[Karen37a]

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

[Cashman1]

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

Stips was created so funders can steal your pants before you relaize!

[Karen37a]

Stips was created so funders can steal your pants before you relaize!

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,paid

[CraaaCraaa Radio]

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

What is industry type?

How many years in business?

Merchant FICO?

Please answer those three honestly??

[fromano590]

TVT or Argus?

[Lmonus]

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

[CraaaCraaa Radio]

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

What is industry type?

How many years in business?

Merchant FICO?

Please answer those three honestly???

[Sachip24]

retail, 4, 640

[patrickw]

ooops! lenders going crazy.

[The Chosen One]

That funder will be out of business in two months.