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  1. #1

    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?

  2. #2
    Senior Member Reputation points: 27404
    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.

  3. #3
    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.
    J.Gordon
    Vice President
    jgordon@superiorcapitalfund.com
    770-617-2377

  4. #4
    Try TVT, they will do it sometimes

  5. #5
    Quote Originally Posted by csichoice View Post
    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?
    Is the DBA listed on the bank statement?

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