Results 1 to 9 of 9
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07-04-2019, 02:14 PM #1
- Join Date
- Nov 2014
- Location
- Fort Lauderdale, FL
- Posts
- 66
Good deal, but no Visa. Excellent cash flow and credit
I have a merchant with no Visa whatsoever. But he owns two businesses. One makes about 65k per month and average daily balance is 3k. His other business does about 200k per month and the average daily balance is 10k.
He has had 3 MCAs in the past with no issue, but the current lender got bought out and the new management does not want to fund the deal even though he has had an excellent repayment history. Personal and business tax returns also can be provided.
His past MCAs have been 80k at 1.37 for 9 months.
Is there any lender able to help?Last edited by Wmateo; 07-04-2019 at 02:21 PM.
William R. Mateo
Mateo Capital Group
Tel: (954)802-2833|Fax: (888)860-1508
http://www.mateocapitalgroup.com
Supporting Common Sense Financing!
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07-05-2019, 09:11 AM #2
Thats impressive,
"I have a merchant with no Visa whatsoever. But he owns two businesses. One makes about 65k per month and average daily balance is 3k. His other business does about 200k per month"Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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07-08-2019, 10:59 AM #3
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 476
...there's a lot of information missing from this picture, but I have a knack for placing this type of funding. If you'd like to have a short conversation about this file, I can offer my insight. 786-712-4900. Presto Prestamo, LLC is my business and I've been placing these types of files since 2015.
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07-08-2019, 11:09 AM #4
- Join Date
- Jun 2017
- Posts
- 2,049
Itin #?
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07-08-2019, 11:11 AM #5
- Join Date
- Jun 2017
- Posts
- 2,049
So He is Essentially an Illegal?
And being under the current Administration can be snatched up by ICE at any Moment???
What happens to his businesses then? Seems like a default waiting to happen. I wouldn't put my money into someones business who could potentially be imprisoned at any moment. Would you Fund someone with an active warrant? Its pretty much the same thing.
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07-08-2019, 11:15 AM #6
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 476
I wanted to answer him the same way... but... a lot of people in our business don't understand how ITIN #'s work... add to that, some business owners never step foot in the U.S. and only file for an EIN (thus wouldn't qualify for any funding here), but some local banks still offer loans to these entities.
I highly doubt someone is operating two businesses with no paper trail.
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07-10-2019, 01:04 PM #7
- Join Date
- Nov 2016
- Posts
- 166
.....
Last edited by swiftcloser; 01-28-2020 at 09:44 AM.
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07-10-2019, 01:11 PM #8
- Join Date
- Jun 2017
- Posts
- 2,049
No VISA to Indicate No Processing would be a very strange way of communicating the merchant has no processing.
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07-10-2019, 01:15 PM #9
- Join Date
- Nov 2016
- Posts
- 166
.....
Last edited by swiftcloser; 01-28-2020 at 09:43 AM.
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