Reverse Consolidation with poor personal credit
Need a Funder or Vendor? START HERE

Results 1 to 10 of 10
  1. #1

    Reverse Consolidation with poor personal credit

    I am looking for a Reverse consolidation lender that will finance a merchant with about 60k in outstanding debt and poor personal credit. The couple that I have tried declined him because of his personal credit. Please advise.


    Danielle

  2. #2
    One of our partner groups are ISO's. Where we've been of most service to them as of late is the ;
    over-leveraged, defaulted(past or present) modified payment deals. Especially when their lending partners come back with declines.

    We look over some basic business data ( don't worry about personal credit ) and if a long term solution can be provided we'll either put out on our balance sheet purchase of future receivables, bridge capital that is required now by the merchant or work with a partner lender while we await the long term close, irregardless of their situation. By the way, your earning twice here and doing what's best for the business, win-win!!

    Why does a long term solution still work in the case of poor credit ? Assets, earnings, debt service coverage. We discover on a lot of these deals plenty of opportunity for our lenders outside of the MCA markets simple because the underwrite is much different.

    If you'd like assistance please reach out , happy to help.

    We are not a ''lender'' as the bridge pieces will be a purchase of future receivables.
    Our development team is currently updating our website to reflect this.



    Greg Derwin
    732 682 6333
    gderwin@fundsolidation.com
    www.fundsolidation.com
    Last edited by TMR; 01-23-2019 at 03:34 PM. Reason: lender ; future receivables

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

    Quote Originally Posted by TMR View Post
    One of our partner groups are ISO's. Where we've been of most service to them as of late is the ;
    over-leveraged, defaulted(past or present) modified payment deals. Especially when their lending partners come back with declines.

    We look over some basic business data ( don't worry about personal credit ) and if a long term solution can be provided we'll either put out on our balance sheet as a direct lender, bridge capital that is required now by the merchant or work with a partner lender while we await the long term close, irregardless of their situation. By the way, your earning twice here and doing what's best for the business, win-win!!

    Why does a long term solution still work in the case of poor credit ? Assets, earnings, debt service coverage. We discover on a lot of these deals plenty of opportunity for our lenders outside of the MCA markets simple because the underwrite is much different.

    If you'd like assistance please reach out , happy to help.

    Greg Derwin
    732 682 6333
    gderwin@fundsolidation.com
    www.fundsolidation.com
    You mentioned you’re a lender. Do you have a lender’s license?

  4. #4
    We are an ISO and a direct funder. It depends on his revenue, is he overleveraged? We are not credit sensitive as long as he has good payment history. How many positions do they have? Please send it over we approve most applications.


    Madeline@vitalfundingsolutions.com
    www.vitalfundingsolutions.com
    Vital Funding Solutions Inc
    888-596-3682

  5. #5
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,318

    Quote Originally Posted by Vital View Post
    We are an ISO and a direct funder. It depends on his revenue, is he overleveraged? We are not credit sensitive as long as he has good payment history. How many positions do they have? Please send it over we approve most applications.


    Madeline@vitalfundingsolutions.com
    www.vitalfundingsolutions.com
    Vital Funding Solutions Inc
    888-596-3682
    Everyone seems to portray themselves as both a funder and a broker these days.

  6. #6
    Hey west coast go generalize someone else's post

  7. #7
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,318

    Quote Originally Posted by Vital View Post
    Hey west coast go generalize someone else's post
    I’ll do what I want.

    Like I said, everyone wants to portray themselves as both a funder and broker these days.

  8. #8
    Member Reputation points: 1183
    Join Date
    Apr 2018
    Location
    31-10 37th Ave., Suite 202 Long Island
    Posts
    39

    We can take a look, please advise on the exact credit beforehand.
    Mj@24capital.com
    203-898-5115

  9. #9
    Banned Reputation points: 179851
    Join Date
    Jun 2017
    Posts
    2,049

    Quote Originally Posted by FL Funding View Post
    I am looking for a Reverse consolidation lender that will finance a merchant with about 60k in outstanding debt and poor personal credit. The couple that I have tried declined him because of his personal credit. Please advise.


    Danielle
    Par will do it if he has property. if they can tie property into a reverse theyll do just about anything

  10. #10
    Roc, send the Reverse underwriting@rocfundinggroup.com Quick response!!!!!!!!

Similar Threads

  1. Reverse consolidation Lenders?
    By 1Loanguy in forum All Other Lending
    Replies: 4
    Last Post: 06-18-2019, 11:26 AM
  2. Reverse Consolidation
    By R_Trains Delayed in forum Merchant Cash Advance
    Replies: 37
    Last Post: 05-20-2019, 10:20 AM
  3. Seeking Reverse Consolidation
    By CashAdvanceKing in forum Deal Bin
    Replies: 9
    Last Post: 02-05-2019, 10:00 AM
  4. Reverse Consolidation
    By FunderGal in forum Deal Bin
    Replies: 12
    Last Post: 11-15-2017, 03:55 PM
  5. Re: Poor Credit Funders
    By Phoenix in forum Deal Bin
    Replies: 4
    Last Post: 04-10-2017, 11:06 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

Fintech Nexus is shutting down
Fed penalizes Evolve Bank
Cloudsquare unveils Cloudsquare Lend


DIRECTORY