Longer term, new to lending, advice appreciated
Need a Funder or Vendor? START HERE

Results 1 to 6 of 6
  1. #1

    Longer term, new to lending, advice appreciated

    I’ve only been at this a few weeks tbh, appreciate any advice, I’ve only been doing smaller deals at one funder so far so don’t have much to go on and this is def not for them.

    Food service

    April 32k
    May 37k
    June 41k


    No NSF or negative days
    Credit is 760
    Has a 23k advance out.
    Looking to pay that off and net something 15k or more.

    Can this be done while keeping payments at or around 3500?
    Comes out to say 15-18 months I imagine which I see people offer on here but not sure if it actually happens.

  2. #2
    Senior Member Reputation points: 38639 patrickw's Avatar
    Join Date
    Mar 2017
    Posts
    590

    Loanme if under eligible state.
    Patrick Wilson
    Managing Partner
    www.PremierCapitalNetwork.com

    (NO MORE LENDER/FUNDER CALL PLZ)

  3. #3
    Senior Member Reputation points: 12169
    Join Date
    Jul 2015
    Posts
    168

    Quote Originally Posted by Jamesf View Post
    I’ve only been at this a few weeks tbh, appreciate any advice, I’ve only been doing smaller deals at one funder so far so don’t have much to go on and this is def not for them.

    Food service

    April 32k
    May 37k
    June 41k


    No NSF or negative days
    Credit is 760
    Has a 23k advance out.
    Looking to pay that off and net something 15k or more.

    Can this be done while keeping payments at or around 3500?
    Comes out to say 15-18 months I imagine which I see people offer on here but not sure if it actually happens.
    Time in Business? Seasonality?

    If they would be willing to switch processing and the seasonality + TIB is good is doable wen the balance hits 18k, so 6 weeks.

  4. #4
    Senior Member Reputation points: 33996
    Join Date
    Jan 2015
    Location
    Laguna Beach
    Posts
    463

    If they have decent time in business get them an 18 month term with Mulligan and walk with 12 points. PM for help if you are not approved with them.

  5. #5
    Quote Originally Posted by patrickw View Post
    Loanme if under eligible state.
    Tank you but located in NY.
    Quote Originally Posted by Lendvo View Post
    Time in Business? Seasonality?

    If they would be willing to switch processing and the seasonality + TIB is good is doable wen the balance hits 18k, so 6 weeks.
    5 years, I'll check with him on the time frame.

    Quote Originally Posted by Christian View Post
    If they have decent time in business get them an 18 month term with Mulligan and walk with 12 points. PM for help if you are not approved with them.
    I see a Mulligan Capital, and a Mulligan Funding. Seems every company has someone who ripped of the name for google searches lol.
    I'll contact them thank you and message you if needed, appreciate the reply.


    Thank you for the replies, and the PM's, definitely helped me learn quite a bit option wise for future dealings.

  6. #6
    Senior Member Reputation points: 33996
    Join Date
    Jan 2015
    Location
    Laguna Beach
    Posts
    463

    Quote Originally Posted by Jamesf View Post
    Tank you but located in NY.

    5 years, I'll check with him on the time frame.


    I see a Mulligan Capital, and a Mulligan Funding. Seems every company has someone who ripped of the name for google searches lol.
    I'll contact them thank you and message you if needed, appreciate the reply.


    Thank you for the replies, and the PM's, definitely helped me learn quite a bit option wise for future dealings.
    Mulligan Funding is the one. However, they may not be taking new ISOs as they are pretty choosy.

Similar Threads

  1. Need 15k longer term loan for client!
    By Kjhaight in forum Deal Bin
    Replies: 7
    Last Post: 10-24-2018, 05:51 PM
  2. Replies: 10
    Last Post: 04-14-2018, 04:37 PM
  3. Hard money - longer term?
    By CFSCCorp in forum Deal Bin
    Replies: 2
    Last Post: 10-31-2017, 11:00 AM
  4. Longer Term Lender
    By Mr.Network in forum Deal Bin
    Replies: 7
    Last Post: 07-07-2015, 12:48 PM
  5. Replies: 4
    Last Post: 11-20-2014, 11:20 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Blue Owl Capital acquires Atalaya
Kansas added to disclosure service tool
FIS launches SMB digital lending


DIRECTORY