Results 1 to 17 of 17
Threaded View
-
10-01-2019, 01:09 PM #1
Reputation points: 68233
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Don't throw away Default/Payment Modification deals
MONETIZE ALL THE DEALS YOU CAN
We have placed several files lately that have either defaulted on their MCA payments (still negotiating- no judgment filed), and/or have made payment modifications- into legitimate bank loans.
If the clients are profitable (or would be with a better credit facility)- have decent credit and/or assets that will allow a lender to perfect a lien- in many instances there is a path to a legitimate loan. CREDIT WITH COLLATERAL AS LOW AS 550- 650 without- WE DO SOFT PULLS HERE.
Last week- 150k 7 year term note which modified payments very recently- BROKER REFERRAL
$1M term note over 48 months for a firm bouncing payments for weeks (credit 640 small net operating income loss)-SENT TO US BY A DIRECT FUNDER
These will be fully Underwritten deals that will take between 30-60 to get done WHEN the clients have their documents lined up.
No tax liens (unless in a payment plan- which will be factored into DSCR)
No Judgments or lawsuits pending
No criminal record
Minimum revenue 150k annually
Brokers Protected
Contact Jared Lagemann- jared@bccusa.com or via mobile 435-513-9010
Business Capital Consultants USA
3237 Route 112 Suite 9
Medford, NY 11763
Office: 631-880-7501
Similar Threads
-
default deals
By patrickw in forum Merchant Cash AdvanceReplies: 2Last Post: 12-21-2018, 11:25 AM -
Default deals
By Dailyfrog in forum Deal BinReplies: 10Last Post: 08-13-2018, 12:20 PM -
What lender will overlook a default /modification
By ava712 in forum Business LoansReplies: 4Last Post: 07-27-2018, 02:55 AM -
Do ISO's ever throw kickbacks to account managers?
By Quickfunder in forum Merchant Cash AdvanceReplies: 31Last Post: 07-12-2016, 08:08 AM -
Best Lenders for 100k + deals that offer no early payment penalties.
By LoanShark714 in forum Merchant Cash AdvanceReplies: 15Last Post: 08-07-2014, 02:33 PM