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  1. #1

    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!

  2. #2
    Senior Member Reputation points: 54975
    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

  3. #3
    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.

  4. #4
    Senior Member Reputation points: 69645
    Join Date
    Mar 2016
    Posts
    897

    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

  5. #5
    Hi Lior. I just sent it over. Thanks!

  6. #6
    Senior Member Reputation points: 27404
    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

  7. #7
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Steven, you started funding in-house?

  8. #8
    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.

  9. #9
    Senior Member Reputation points: 69645
    Join Date
    Mar 2016
    Posts
    897

    Quote Originally Posted by AnotherJoe View Post
    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.
    Just Noticed this today - thanks for the sub. Keep them coming.
    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

  10. #10
    Lior's the man!
    Anthony
    Senior Funding Coordinator
    Anthony@fundersconnect.com
    Direct: 201-523-2596
    Fundersconnect Is An Approved Vendor of Delta Bridge Funding Products

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