Too many NSFs but strong revenue
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  1. #1
    Member Reputation points: 11
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    Elmira - Horseheads, NY
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    Too many NSFs but strong revenue

    My client is asking for $45,000 after depleting account after repair expenses.

    $1,500,000 in annual revenue
    In business since 2014
    Ag business but not farming - revenue consistent over the year.

    Averages $137,190 last four months

    Feb 2018 NSFs - 12 total
    Mar 2018 - 11

    ** Note that the business was clean before January and a large loan repayment.
    Last edited by tfh1962; 04-11-2018 at 05:00 PM. Reason: moe

  2. #2
    Senior Member Reputation points: 226125
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    He's got real estate or other collateral?

  3. #3
    Member Reputation points: 11
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    Elmira - Horseheads, NY
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    No additional collateral.

  4. #4
    Senior Member Reputation points: 226125
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    How's their FICO? You can get them unsecured if they're 680+

  5. #5
    Do they accept credit cards/ are there other advances in there that he's paying? Feel free to reach out to discuss

    Daniel Lenefsky
    Senior Finance Executive/VP ISO relations
    P:646-774-3301
    F: 646-398-5656
    daniel@yellowstonecapllc.com

  6. #6
    Senior Member Reputation points: 54977
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    This screams mantis kind of offer!! (sorry for coming on late -- no reason for 2 texts if i am OK?)...
    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

  7. #7
    Senior Member Reputation points: 84403
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    Quote Originally Posted by tfh1962 View Post
    My client is asking for $45,000 after depleting account after repair expenses.

    $1,500,000 in annual revenue
    In business since 2014
    Ag business but not farming - revenue consistent over the year.

    Averages $137,190 last four months

    Feb 2018 NSFs - 12 total
    Mar 2018 - 11

    ** Note that the business was clean before January and a large loan repayment.
    Possible Credit Card Split / Lock Box
    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

  8. #8
    Senior Member Reputation points: 203690
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    Jan 2014
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    1,370

    if his clients are commercial go the factoring or ABL route, they wont care about nsf's

  9. #9
    Member Reputation points: 11
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    Dec 2015
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    Elmira - Horseheads, NY
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    They don稚 accept credit cards.

  10. #10
    Member Reputation points: 11
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    Elmira - Horseheads, NY
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    ABL - no unemcumbered assets exist.

  11. #11
    Member Reputation points: 11
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    The FICO IS APPROXIMATELY 680. I did not run credit.

  12. #12
    Member Reputation points: 11
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    I don稚 know Mantis. Reading about Mantis is more than a little interesting.

    LoanMe liked everything about this deal, except the location - Texas.

  13. #13
    Senior Member Reputation points: 226125
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    Get the credit report? www.creditchecktotal.com gets your all 3 or www.freecreditscore.com (Experian) and Credit Karma (TU and Equifax).
    That will tell you the truth.
    If it's like you say, I'll give you a reference you can use to monetize this.

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