Looking for lender that doesn't require 50% payoff for new 1st pos
Need a Funder or Vendor? START HERE

Results 1 to 6 of 6
  1. #1
    Senior Member Reputation points: 5110 LJH365's Avatar
    Join Date
    May 2014
    Location
    NY, NY
    Posts
    168

    Looking for lender that doesn't require 50% payoff for new 1st pos

    Looking to pay off $75k, customer was approved for $105k with Ondeck but they killed it due to a recent (slight) credit drop.

    Strong credit, landscaping business
    Banks:
    Nov $62k
    Avg daily balance- $18k

    Oct $53k
    Avg daily balance-$30k

    Sept $95k
    Ave daily balance-$42k

    Any suggestions?
    Sean Hawley
    CEO
    BLF
    Bright Light Freight
    shawley@brightlightfreight.com.com
    631-210-6327
    SBA, Term Loans, LOC, MCA & Equipment Finance (Transportation & Trucking)

  2. #2
    Senior Member Reputation points: 227882
    Join Date
    Feb 2017
    Posts
    3,429

    Rapid recently dropped their minimum payoff.

  3. #3
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,318

    Quote Originally Posted by abfunders View Post
    Rapid recently dropped their minimum payoff.
    Now if they’d only chillout with sending 10 emails thru every step of the process.

  4. #4
    Member Reputation points: 1949
    Join Date
    Nov 2018
    Location
    San Diego, CA
    Posts
    75

    QuarterSpot only requires a 20% net. Good luck.

  5. #5
    Senior Member Reputation points: 45092
    Join Date
    Aug 2016
    Posts
    275

    Ondeck QS

  6. #6
    Senior Member Reputation points: 5110 LJH365's Avatar
    Join Date
    May 2014
    Location
    NY, NY
    Posts
    168

    Thanks guys.
    Sean Hawley
    CEO
    BLF
    Bright Light Freight
    shawley@brightlightfreight.com.com
    631-210-6327
    SBA, Term Loans, LOC, MCA & Equipment Finance (Transportation & Trucking)

Similar Threads

  1. Best Early Payoff Incentives Lender
    By Olah54 in forum Merchant Cash Advance
    Replies: 20
    Last Post: 10-30-2018, 04:01 PM
  2. Replies: 18
    Last Post: 10-24-2017, 05:06 PM
  3. Replies: 18
    Last Post: 05-24-2016, 12:23 PM
  4. Direct Lender who doesn't use decision logic
    By Raoul Cannon in forum Deal Bin
    Replies: 10
    Last Post: 02-11-2016, 11:33 AM
  5. Lender won't provide payoff letter?
    By WhoisKingsley in forum Merchant Cash Advance
    Replies: 6
    Last Post: 07-09-2014, 06:46 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Lendistry welcomes new CFO
LegalZoom partners w/ businessloans.com
iBusiness Funding acquires Funding Circle


DIRECTORY