Results 1 to 10 of 10
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10-24-2018, 09:18 PM #1
- Join Date
- Oct 2018
- Posts
- 5
Utah Inn
Hi all,
This is my first time posting here, but I've been in the industry for 4 years. I have a file that I can't get anything for through my network. He has pretty bad credit and a judgment from Greenbox from 2-3 years ago or so. According to the merchant, his broker back then got him with the usual "21 payments" thing and the merchant stopped paying. Doesn't matter the reason though, I know.
I've been working with the merchant since July 2017 and funded him through Elevate 3 times (cc deal). He is paid in full. He never had any issues paying except for a revenue dip due to a combination of seasonality and Expedia not listing him (temporarily). His last renewal was funded early April 2018 and paid off in full earlier this month, so it took 6 months opposed to the estimated 5.25 months. I wasn't able to renew him after a month+ of waiting, and he ended up getting a stack from Forward ($7,500) in late August through another broker, and Elevate is no longer interested. He is also paid in full with Forward - I got him $11k from Loan Me at the beginning of this month which bought it out; he barely netted anything but it cut his payments in half and freed up cash flow etc. He has averaged around $15k in deposits the past 4 months, and his October is looking good with steady flow (around $18k+ so far this month).
It's a fundable file but no one is biting this time. Declines include: Yellowstone, Mantis, Cooper, Pearl, Legend, Quickfix, Kings Cash and MCG. He worked with Rapid Advance and is paid in full with them too. I even had an approval in August but his balance with Elevate was too high at the time to buy out.
Let me know if anyone can help (cc split preferable), and the deal won't get killed at the end because of the judgment. Thank you!
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10-25-2018, 12:44 PM #2
- Join Date
- Dec 2013
- Posts
- 4,713
Yep ..seems like everyone declined ... If you email me at bizdev@cresthill capital . com ill have UW take another look ...
Last edited by mcaguru; 10-25-2018 at 12:47 PM.
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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10-25-2018, 12:59 PM #3
- Join Date
- Oct 2018
- Posts
- 5
Hey Marcus. Thank you for the reply. Yeah, Rich, Mike and them said they couldn't fund it. I had a signed contract with you guys at the end of July get killed because of revenue drop, plus the judgment. Revenue is solid now but the judgment is still the killer. It just got declined again on Monday with you guys haha. I'll shoot it over to you though now.
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10-25-2018, 01:06 PM #4
- Join Date
- Mar 2016
- Posts
- 908
Hey Joe - ide like to take a crack at this if you dont mind. CFG operates just like YSC, so im hopeful ill get one of my underwriters to price it. Feel free to reach out.
Thank you,
Lior Monus
Business Development Manager
CFG Merchant Solutions
Direct: (646) 880-6764
Cell: (516) 319-5826
Fax: (646) 278-7322
Lmonus@cfgms.com
180 Maiden Lane New York, NY 10038
www.cfgmerchantsolutions.com
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10-25-2018, 01:15 PM #5
- Join Date
- Oct 2018
- Posts
- 5
Hi Lior. I just sent it over. Thanks!
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10-25-2018, 04:18 PM #6
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
ive funded 2 deals last week on defaults with strong financials. funding broker convinced merchant to default,
We helped merchant clear judgements. lmk
Steven Jones
steven@davincinc.com
2102904102
www.davincinc.com
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10-25-2018, 04:22 PM #7
- Join Date
- Feb 2017
- Posts
- 3,468
Steven, you started funding in-house?
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10-29-2018, 01:42 PM #8
- Join Date
- Oct 2018
- Posts
- 5
Thank you to everyone who reached out on the thread and in PM's. Lior from CFG just funded it for me! It was an even better deal than I had hoped for.
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11-01-2018, 02:12 PM #9
- Join Date
- Mar 2016
- Posts
- 908
Thank you,
Lior Monus
Business Development Manager
CFG Merchant Solutions
Direct: (646) 880-6764
Cell: (516) 319-5826
Fax: (646) 278-7322
Lmonus@cfgms.com
180 Maiden Lane New York, NY 10038
www.cfgmerchantsolutions.com
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11-01-2018, 04:09 PM #10
- Join Date
- Aug 2014
- Posts
- 620
Lior's the man!
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