Results 1 to 14 of 14
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06-18-2018, 11:52 AM #1
250k monthly manufacturing
Any funders fund based on bank statements.
Clarification. ANy funders give me a quote just with bank statements and soft credit for approval and funding?Last edited by brokerCompany; 06-18-2018 at 01:41 PM.
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06-18-2018, 11:54 AM #2
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- Aug 2017
- Location
- New York City
- Posts
- 199
Merchant cash group is one i can think of
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06-18-2018, 11:58 AM #3
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- Aug 2017
- Location
- New York City
- Posts
- 199
with that being said not sure what max funding amount is
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06-18-2018, 12:01 PM #4
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- Dec 2013
- Posts
- 4,713
If someone is funding like that they wont be around much longer.
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
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06-18-2018, 12:24 PM #5
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- Jun 2015
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- 3,323
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06-18-2018, 12:44 PM #6
- Join Date
- Feb 2017
- Posts
- 3,425
Elevate sounds like a good match.
The no credit check only goes so far - They'll find tax liens, judgements and criminal records through public record checks.
Once had a client who hid that there were two partners, and after asking for an app from him, they did some background and found the criminal record for fraud and assault. DECLINED. And good riddance.
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06-18-2018, 01:01 PM #7
- Join Date
- Oct 2014
- Posts
- 60
we would need to pull the credit prior to funding but I can certainly get you an offer pending it, give me a call to discuss!
Daniel Lenefsky
Senior Finance Executive/VP ISO relations
P:646-774-3301
F: 646-398-5656
daniel@yellowstonecapllc.com
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06-18-2018, 01:24 PM #8
Any legit direct funder willing to give an offer based on bank statements prior to soft credit pull?
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06-18-2018, 01:41 PM #9
- Join Date
- Feb 2018
- Posts
- 1,349
nobody is getting $250K with a no credit check program. they will need credit pulls, study their tax returns and financials, and much more. now if they only want a small amount of funding and the banks are solid, many will entertain.
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06-18-2018, 01:42 PM #10
- Join Date
- Aug 2017
- Location
- New York City
- Posts
- 199
Send a credit report with the submission and ask for a offer using that
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06-18-2018, 01:52 PM #11
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- Feb 2017
- Posts
- 3,425
Oh, right, I forgot the $250,000 limit.
IOU, QuarterSpot do Soft and give approval.
UFS will give a soft approval without pulling credit. There are several other who won't pull credit right away on submission if you give an estimate (and you have a good relationship with them).
Joseph (JMB) is right - send a credit report with the submission along with tax returns and YTD financials, and you'll be in a much better position to request an underwriting without a credit pull at all.
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06-18-2018, 02:27 PM #12
- Join Date
- Dec 2013
- Posts
- 4,713
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
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06-18-2018, 02:50 PM #13
- Join Date
- Apr 2018
- Posts
- 6
@brokercompany is this a first position file? If not I underwrite all of our submissions based off of payment history with previous advances. Any questions or comments feel free to reach out to me.
Last edited by Joey Schield; 08-03-2021 at 02:43 PM.
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06-25-2018, 04:34 PM #14
- Join Date
- Jun 2015
- Location
- Gainesville, FL
- Posts
- 199
Thanks for looking out as always, Micah.
We don't pull credit at all, not even a soft pull. But that said, we would not be able to fund on bank statements alone. Our decisions are based on cash flow and the results of a thorough background check of both the merchant and the company itself.
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