Results 1 to 5 of 5
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10-23-2018, 01:50 PM #1
- Join Date
- Sep 2013
- Posts
- 36
Personal Account
I have a Machine Shor that is doing 40K to 50K per month has been in business since 1972 has a Federal Tax ID Number and is a S Corp and is depositing into a Wells Fargo Personal Checking Account.
Can anyone do this since he has a personal account not a business account?
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10-24-2018, 06:25 PM #2
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
make the merchant create a business account, if hes moving that much cash well fargo would have pushed him to make a business account long ago and probably eligible for a fargo LOC. So this may be a waist of your time.
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10-26-2018, 12:08 PM #3
- Join Date
- Oct 2018
- Posts
- 9
Merchant really needs to open a business account. From lenders perspective, there is more latitude for collections capacity with commercial accounts than personal accounts. Very tough to find any that will fund a business cash advance into a personal account.
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10-26-2018, 07:07 PM #4
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10-28-2018, 09:14 AM #5
- Join Date
- Dec 2017
- Posts
- 277
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