Results 1 to 10 of 10
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03-08-2019, 11:08 AM #1
- Join Date
- Sep 2017
- Location
- New Jersey
- Posts
- 6
300k monthly deposits with judgments
I have a merchant who is seeking $140,000 total (He will accept funding in increments of $20,000 to make lenders more comfortable) He owns a fresh food market comparable to A&P or Shop-rite. The business start date is December 2016, and does $250k-$300k in deposits consistently each month. (I have been to his business location because we are taking over his CC processing). The majority of his sales are on CCs, and is willing do enter into a daily ACH or CC Split/Lockbox agreement.
The problem is the merchant has 2 judgments against him (MCA defaults). One dated June of 2017 for $44,762, and the other dated November 2017 for $43,900 both under different entities.
Please advise if anyone is willing to learn more information on this file. Thank you in advance.
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03-08-2019, 11:15 AM #2
- Join Date
- Jun 2018
- Posts
- 73
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03-08-2019, 11:25 AM #3
- Join Date
- Jun 2018
- Posts
- 9
Have the judgments been satisfied? If so, we can accommodate. 929.999.2700 Sal
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03-08-2019, 11:29 AM #4
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,995
Is the merchant wanting or willing to pay off the existing positions?
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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03-08-2019, 11:57 AM #5
- Join Date
- Sep 2017
- Location
- New Jersey
- Posts
- 6
Sal and Dave - unfortunately the judgments have not been satisfied. The merchant advised that he had partners involved within that specific entity and things went south due to disagreements between owners. Merchant is the only owner of this specific business, and no longer works with those individuals. He does plan on satisfying those judgement in the near future.
Michael - I will be calling you shortly.
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03-08-2019, 12:00 PM #6
We can look at this
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03-11-2019, 12:52 PM #7
- Join Date
- Jul 2017
- Posts
- 105
submit to deals@mainstreetcash.com, I will give u 3 separate 20k deals if it works
Direct Funder | MCA | Public Companies | Convertible Notes | Hard Money
D. 516-667-6817
paul@coolidgecapital.com
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03-11-2019, 12:54 PM #8
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
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03-11-2019, 12:58 PM #9
- Join Date
- Oct 2016
- Posts
- 4,318
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03-11-2019, 02:26 PM #10
- Join Date
- Oct 2018
- Posts
- 99
What is the best number to reach you on?
Adam Ward
911 Ave U
Brooklyn NY 11235
adam@Funding-Zone
347-269-1598
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