[ERS]

Removed

[Joseph Esparza]

I hope your other places include Capital Stack... Let us take a look at that.

[Zach]

Send that bad boy my way! I'll get him 500K!

[FUNd]

Maybe they saw something that you did not. I just had a company doing 8.5MM in revs with a 717 FICO offered a max of 120K by OD for a 1.33 factor. There is usually a method to the madness. I've seen companies grossing 20MM a year with average balances of less than 100K. Big revs don't always mean profitability or a capacity to repay.

[Jared_Weitz]

Established Security Company with an Avg of $690k per month, high avg daily balance and ending balances with 700+ Credit...squeaky clean.

They are looking for $150k...should have been a slam dunk...All day long, right?

WRONG!

They offered $50,700...only 7% of monthly revenue!

Has anyone else experienced this crazy conservative underwriting from them?

I have other places to put this...but I figured I would give them a shot since they kept emailing me promising attractive commissions...but all I can say is WOW!

It could be because they're so new that they are starting conservative. I see you're a pretty experienced guy on here based on your posts. If I'm you I send that deal to my strongest relationships with good systems, plenty of in-house staff and support and go direct obviously. I see so many people asking for deals to be sent to them but at the end of the day can't handle them or have really bad internal systems which waste time. I think a deal like this could get a 12-18 month in the teens for cost of capital.

[Mworch]

lets turn this paper into cash!!

i got this.

Mark Crow
Senior Funding Administrator

High Speed Capital LLC

Direct: 201-301-8788
Mark@HighSpeedCap.com

[bizloanbroker]

best option for this deal is Yellowstone or Everest

[GMFunding]

Cresthill doesn't like larger deals, if you felt the file needed Cresthill then there's an obvious reason for the offer. They are not what I'd 'A' paper lender.

[mcaguru]

i see your saying security company. i think that may be a Great offer 50K.
here is why...
1) they usually have 1-2 clients that make up 40% of the sales. so in the event they loss that client,etc.
2) in the event they have issues paying back the advance they can easily have 1-2 clients send the money to another (NEW) ACCOUNT)
3) they are nothing more then an employment agency who pass on most of the money to the security guards, so it would be around 10% of that amount would be true sales!

[omegafund]

Your client is better off doing invoice factoring. He can start at a 400-500k credit line even if they only have 1-10 clients. Or a term loan. Much less expensive than cash advance
We funded a security firm about the same but lower credit. They have an open line around 1M

bzuniga@omegafund.com

[ERS]

I have this deal already approved with one of our other "preferred" funders. I just gave Cresthill a shot because they claimed that they did it all and paid more. More of small funding is still less!

I did ask for an explanation and did not get a satisfactory response. What I did receive was akin to "because we felt like it".

The way I see it is if a funder gives us a lowball offer or a decline and we request the "why" of it, we should receive a satisfactory explanation. It should not take a post on DailyFunder to get the Funder to offer up communication.

[ERS]

So to give an update...It is now 7:22am here in California and my phone system just emailed me a voicemail from Cresthill that is 4 min 20 seconds long offering somewhat of an explanation, although it never should have taken this to get an explanation.

So to be fair, I am going to take my post down. I appreciate all of your posts... Thanks again!