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06-12-2019, 07:44 PM #1
- Join Date
- Apr 2014
- Location
- Chicago, IL
- Posts
- 185
Wells Fargo Shut Down Banks
A good client of mine who runs a landscaping company has his business divided among two separate entities. He clears about $175K per month but frequently moves money between the two companies (both have same owners).
Mysteriously Wells Fargo decided last week that they're going to terminate their relationship with him, froze some incoming credit card deposits, and shut down the account. The only explanation they gave is that they are not comfortable with so much money being changed between two separate companies.
Client scrambled to open a second account at a neighboring bank and needs an infusion of cash so he can make payroll on Friday. There is a LoanBuilder first for $74K but the ending balances (until last week when this all happened) are strong enough to support a substantial second position.
I've run this through a few different MCA firms and while each one promises the world, when push comes to shove they back out at the very last minute.
Any takers? Obviously this one requires lenders only.
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06-13-2019, 12:44 PM #2
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
go to a d lender, ping me i have a few i can refer
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