Results 1 to 5 of 5
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08-20-2014, 08:40 PM #1
client needs money to pay his owed back rent
My underwriter just declined a deal because we found out he was $8K behind on rent. Are there any other direct lenders that will pay off his $8K balance with his LL?
(We had him approved for 13K over 7 months.)
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08-20-2014, 09:09 PM #2
client needs money to pay his owed back rent
Retail Capitals landlord policy is one month behind, they will pay off. 2 months it's questionable, 3 months it's decline. They also must net over 50%, so in this case they would need to qualify for 16k with us.
Jeannette Nearing | Business Development Officer| AmeriFactors
| M (770) 362-2307
jnearing@amerifactors.com |
http://www.amerifactors.com
https://www.linkedin.com/in/jeannettenearing
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09-09-2014, 10:43 AM #3
- Join Date
- Feb 2014
- Posts
- 54
Do you still need someone for this? We have a direct syndicator that we use for these deals - we would be happy to take a look. There is no set amount that the client would need to net.
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09-09-2014, 11:00 AM #4
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09-10-2014, 03:17 PM #5
- Join Date
- Jun 2014
- Posts
- 541
Cooper will split the funding paying the landlord directly for the back rent, with the balance to the merchant-
Robert S Bloink
EVP of ISO Partnerships
Direct: 313-218-4663
Email: bb@cooperasset.com
Web: www.cooperasset.com
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