[brokerCompany]

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?

[JMB]

Merchant cash group is one i can think of

[JMB]

with that being said not sure what max funding amount is

[mcaguru]

If someone is funding like that they wont be around much longer.

[Michael I]

If someone is funding like that they wont be around much longer.

they have been around forever. what makes you think that now they will go out ?

[abfunders]

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.

[danlen]

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

[brokerCompany]

Any legit direct funder willing to give an offer based on bank statements prior to soft credit pull?

[fundingsmbs]

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.

[JMB]

Send a credit report with the submission and ask for a offer using that

[abfunders]

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.

[mcaguru]

they have been around forever. what makes you think that now they will go out ?

Strictly on bank statements?

[Joey Schield]

@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.

[kpeng]

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.

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.