Solid business but bad credit
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  1. #1
    Senior Member Reputation points: 44171
    Join Date
    Aug 2017
    Posts
    405

    Need 50K asap

    November 63K
    October 139K
    September 203K

    Credit is 440, She had a Bk in 2010

    TIB January 2018

    She had a 25K loan with mantis and paid it off in full this they are now offering 75K now.

    She also does Credit card sales

    I need to get her 50K by friday!!!
    Last edited by Mynameisbob; 12-11-2018 at 08:42 PM.

  2. #2
    Senior Member Reputation points: 84417
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,977

    Quote Originally Posted by Mynameisbob View Post
    November 63K
    October 139K
    September 203K

    Credit is 440, She had a Bk in 2010

    She had a 25K loan with mantis and paid it off in full this and they are offering 75K now.

    She also does Credit card sales

    Vader is offering 10K..I need to get her 50K by friday!!!
    We do credit card splits / lockbox.

    Is your posting correct, November Revenue was 63K , which was 50% of the October Revenue ?
    It would appear the business is seasonal and you want to load her with a 50K which is roughly 80% of gross revenue
    in November

    How would she service that debt?
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  3. #3
    Senior Member Reputation points: 54989
    Join Date
    Dec 2013
    Posts
    4,713

    Yep MANTIS / Cresthill has been VERY aggressive last few weeks !!!
    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

  4. #4
    Senior Member Reputation points: 8447
    Join Date
    Jul 2015
    Location
    Tampa Florida
    Posts
    502

    We can look at this on CC split and consider seasonality. Please provide January - November processing statements along with October & November banks.
    Jason H l Sales & Business Development
    Quikstone Capital Solutions l Tampa FL
    Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
    Jason.Hausle@quikstonecapital.com
    www.quikstonecapital.com


    Direct Lender Since 2005

  5. #5
    Senior Member Reputation points: 49940
    Join Date
    Aug 2014
    Posts
    620

    50k might be doable if December MTD revenue is back up. Feel free to reach out if I can be of any help.

  6. #6
    Senior Member Reputation points: 6957 ESE5020's Avatar
    Join Date
    Oct 2017
    Posts
    341

    Depends on the MTD, but we can fund sub 500 credits
    East Shore Equities, LLC
    Tel: (516) 784-4298 | Fax: (516) 231-5590
    www.EastShoreEquities.com

  7. #7
    Member Reputation points: 1949
    Join Date
    Nov 2018
    Location
    San Diego, CA
    Posts
    75

    I think the Mantis renewal offer is strong here. Otherwise possibly CFG.

  8. #8
    Senior Member Reputation points: 44171
    Join Date
    Aug 2017
    Posts
    405

    Too bad Mantis doesn't work well with brokers....

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