Results 1 to 11 of 11
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06-20-2019, 11:52 AM #1
- Join Date
- Jan 2014
- Posts
- 283
Auto Sales: 2nd position
I have funded a decent of Auto Sales shops(usually 1st positions only), but am having a hard time getting one a 2nd position at the moment, as his initial round of funding was about 30 days ago. He is expanding and has a big promotion for July 4th weekend, as well as another one Labor Day weekend. Other than YS I do not know of any Lenders that will do this...needs $20k-$30K, preferably 6 month term with weekly payments(if possible).
-$50k-$60K/month
-balance is approximately $30K w/current Lender
-credit is average(high 500s-low 600s)
-pretty consistent revenue, hardly any NSFs
Direct Lenders only please, any help would be appreciated
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06-20-2019, 11:56 AM #2
- Join Date
- Feb 2017
- Posts
- 3,429
FYI in your search/pitch: That's not called average credit. That's called bad credit.
https://www.valuepenguin.com/average-credit-score
"The average FICO score in America is 695 and the average Vantage score stands at 673. "
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06-20-2019, 12:05 PM #3
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06-20-2019, 12:10 PM #4
- Join Date
- Jun 2018
- Posts
- 55
WBL can look at this and be able to ignore that first position when pricing it out. Give me a call!
David Fite
Director of ISO Relations
Windgate Capital
40 Wall Street, 29th Floor, New York, NY 10005
Direct: (516) 400-2087 ǀ Fax: (347) 708-8699 | Cell: (929)-361-4156
David@WindgateCapital.com ǀ https://www.WindgateCapital.com/
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06-20-2019, 12:41 PM #5
- Join Date
- Jan 2014
- Posts
- 283
Thanks for the nit pick...I'll be more specific- average credit for someone seeking a short term 2nd position....
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06-20-2019, 12:41 PM #6
- Join Date
- Jan 2014
- Posts
- 283
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06-20-2019, 12:52 PM #7
Cooper/Pearl/Kash and Mantis lol :P
Patrick Wilson
Managing Partner
www.PremierCapitalNetwork.com
(NO MORE LENDER/FUNDER CALL PLZ)
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06-20-2019, 02:03 PM #8
- Join Date
- Apr 2016
- Posts
- 76
I would try Knight. They do New and Used dealerships.
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06-21-2019, 01:52 PM #9
- Join Date
- Jul 2017
- Posts
- 548
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06-25-2019, 08:18 AM #10
- Join Date
- Feb 2016
- Posts
- 55
let us give it a shot!
Ben Terner
VP of ISO Relations
Direct: 248-341-9789
Email: bterner@cooperasset.com
Web: www.cooperasset.com
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07-16-2019, 09:43 AM #11
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
Last edited by Kevin Henry-Seacoast; 07-16-2019 at 09:59 AM.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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