Restaurant deal with negatives and bounced payments
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  1. #1

    Restaurant deal with negatives and bounced payments

    Hey guys, I don't know if this is doable, but this merchant has a $25k balance with Rapid, and does about $50k a month but the statements have multiple negative days in the last 3 months - I have the CC statements, so I was wondering if a pay off is possible.

    I don't think it can be done, but I have seen some alternative options for clients that I never thought could get funding.

    He has property but doesn't want to use.

  2. #2
    Senior Member Reputation points: 54977
    Join Date
    Dec 2013
    Posts
    4,713

    I cant talk to this file ..I know Mantis is the king with HIGH NSF"S !!

    FYI get on board ASAP ...if you are still not ...you'll thank me later !!
    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

  3. #3
    If he changes his mind on the property, WBL can do it.
    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/

  4. #4
    Senior Member Reputation points: 84403
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,926

    Quote Originally Posted by Amiran5 View Post
    Hey guys, I don't know if this is doable, but this merchant has a $25k balance with Rapid, and does about $50k a month but the statements have multiple negative days in the last 3 months - I have the CC statements, so I was wondering if a pay off is possible.

    I don't think it can be done, but I have seen some alternative options for clients that I never thought could get funding.

    He has property but doesn't want to use.
    $50K per month in credit card receipts?
    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

  5. #5
    Senior Member Reputation points: 8447
    Join Date
    Jul 2015
    Location
    Tampa Florida
    Posts
    498

    If you didn't find a home for this yet we do very well with NSF's/negative days and might be able to make an exception to our net rule if the processing volume is strong.
    Jason H l Sales & Business Development
    Quikstone Capital Solutions l Tampa FL
    Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
    Jason.Hausle@quikstonecapital.com
    www.quikstonecapital.com


    Direct Lender Since 2005

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