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  1. #1

    Second Position for a Merchant with Many Over Drafts Average deposits $50k x Month

    Deposits from $45 to $60K per month its their Slow Season so we need $20k , has many OD and some NSF's

    NOTE : Have a Mantis offer but it's too low , they won't go up . Vader said no and YSC said No. both because the overdrafts and NSF's

    Who else could do this??

    Thanks

  2. #2
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    No real info here....

    Try LCF, Mainstreet

  3. #3
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    If they do a lot in CC's... you might be able to do a cc split. Neg days and NSF's don't matter as much to many uw'ers.

  4. #4
    Senior Member Reputation points: 6957 ESE5020's Avatar
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    We can look at this deal, Submissions@EastShoreEquities.com
    East Shore Equities, LLC
    Submissions@EastShoreEquities.com
    Tel: 516-231-5595 | Fax: 516-231-5590
    www.EastShoreEquities.com

  5. #5
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    Quote Originally Posted by microboby View Post
    Deposits from $45 to $60K per month its their Slow Season so we need $20k , has many OD and some NSF's

    NOTE : Have a Mantis offer but it's too low , they won't go up . Vader said no and YSC said No. both because the overdrafts and NSF's

    Who else could do this??

    Thanks
    Seems like other funders Declined when Mantis made an Offer....... Take Note and Sign-Up ASAP!!
    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

  6. #6
    Quote Originally Posted by ESE5020 View Post
    We can look at this deal, Submissions@EastShoreEquities.com
    Just Sent Over , Let's see what you can do !!

  7. #7
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    Let us know what he comes back with FYI...you can always email me and i can go to the Uw and see what can be done.
    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

  8. #8
    Quote Originally Posted by mcaguru View Post
    Let us know what he comes back with FYI...you can always email me and i can go to the Uw and see what can be done.
    ''
    Lerry and Rickard Kim went trough it twice and no increase . Not surprised because even when I like Mantis and fund here and there with them I always know their offers are a little low most of the times . No biggie , Its the business model 1.48 80 Payments and so but sometimes no one else presents an offer so can't complain

  9. #9
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    At times too high can be an issue. Yes you get a higher offer and than company goes under.....I can put on here 20 subprime funders that left the market since 2007 with people losing all their renewals because they were giving higher offers than merchant can handle -- I like to believe that Mantis's Underwriters are like F-16 Pilots on the side of Airforce ONe on a cloudy night
    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

  10. #10
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    may have better chance if you give more details, what kind of business, whats balance on 1st position, current daily payment, when is busy season again, exactly how many overdrafts/NSfs past month etc etc. How are you lenders saying "we can do it send it" without knowing any of this info lol

  11. #11
    Quote Originally Posted by Sachip24 View Post
    may have better chance if you give more details, what kind of business, whats balance on 1st position, current daily payment, when is busy season again, exactly how many overdrafts/NSfs past month etc etc. How are you lenders saying "we can do it send it" without knowing any of this info lol
    Restaurant SIC
    Balance is about 40K CC Split
    Busy Season starts Next month
    OD and NSF over 10 x month

  12. #12
    Quote Originally Posted by microboby View Post
    Just Sent Over , Let's see what you can do !!

    Eastshore can't do , I was kind of expecting that

  13. #13
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    Quote Originally Posted by microboby View Post
    Restaurant SIC
    Balance is about 40K CC Split
    Busy Season starts Next month
    OD and NSF over 10 x month

    We do credit card split / lock box
    Will pay off 1st - net in the range of 50%
    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

  14. #14
    Quote Originally Posted by Yankeeman07 View Post
    We do credit card split / lock box
    Will pay off 1st - net in the range of 50%
    60k in sales x month won't make the cut to net 50% net if you make the math mate

  15. #15
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    Bet mantis kills the deal after u get the coj done and all
    Joseph Boyle
    Skyline Funding
    Joseph@Skyline-Funding.com

  16. #16
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    Quote Originally Posted by JMB View Post
    Bet mantis kills the deal after u get the coj done and all
    on small files they just do doc u sign no more coj.

  17. #17
    Something Cooper Asset could definitely compete with

    Reach out to bterner@cooperasset.com and let me see what we can come up with!
    Ben Terner
    VP of ISO Relations
    Direct: 248-341-9789
    Email: bterner@cooperasset.com
    Web: www.cooperasset.com


  18. #18
    PM me, I can get you a better and profitable deal for you. Sorry you have had bad luck with those lenders but we can take a look and get you to where you need to be.

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