[skideeppow]

Have a restaurant doing cc sales of $35-40k/month. TIB is short.

Anyone doing something like this out of the box?

[mcaguru]

mantis has funded a ton of files that barely touched on 3 complete months in business!

[Jstarr]

90% failure rate, that is the national average for startup restaurants - the barrier of entry is minimal, and every one of them are undercapitalized when they open, chances are he will be out of business soon, 3 months TIB and 3 more months until they are closed.

I have first had experience with this - we own a firm that has over 1200 restaurant clients.

[mcaguru]

90% failure rate, that is the national average for startup restaurants - the barrier of entry is minimal, and every one of them are undercapitalized when they open, chances are he will be out of business soon, 3 months TIB and 3 more months until they are closed.

I have first had experience with this - we own a firm that has over 1200 restaurant clients.

Jerry you maybe correct for some reason the 10% that don't go out of business seem to be littered all over our portfolio but with all jokes aside i was at the national restaurant association conference years ago and i went to a lecture that claimed its closer to 50% that go under. I don't know what they were using to calculate those numbers. (Could be things perhaps have changed last few years or perhaps i missed a vital point in the lecture).

[abfunders]

Quikstone (Sterling) has advertised here that they can do this if the lender pay the vendor directly and they switch over their processing...

[skideeppow]

mantis has funded a ton of files that barely touched on 3 complete months in business!

i laugh at you. you already declined it. As you always do. You claim to be able to fund all these out of the box deals, yet you dont.

[mcaguru]

I sit with final underwriters all day long and hear them discuss how they are about to fund a business only 10 weeks in business. (must be over 3 month banks statements) i also have a network of (cant get into all our secrets) that gives us fresh NEW in business Applications files (maybe a sign store business --not that example but its close enough so you know the business is NEW) and we fund tons of them. please email me and i will see why (with name of business) so i can see why your specific example was declined).

[mcaguru]

Did you just send me the deal based in Indiana if it is we approved! (may be mixing up another daily funder conversation ).

[LoanMe]

Have a restaurant doing cc sales of $35-40k/month. TIB is short.

Anyone doing something like this out of the box?

LoanMe only requires 90 days in business.

[Jason Sterling]

We can look at this on credit card split.

[Jason Sterling]

Quikstone (Sterling) has advertised here that they can do this if the lender pay the vendor directly and they switch over their processing...

That is our Jumpstart funding which is for unopened business, funds have to be used for POS systems / equipment. We pay the POS reseller / equipment supplier directly. We don't release funds on Jumpstarts until the business opens and completes two batches with Sterling Payment processing. Thanks

[albert81]

albert@prosperumcapital.com
646-491-6961
90 days is good enough.