Results 1 to 9 of 9
-
10-01-2019, 01:58 PM #1
- Join Date
- Jan 2018
- Posts
- 92
Seasonal Business, low deposit volume
Hey guys,
I have a merchant in MA that owns a window siding company, and the bank statements show $240k for this year with months that have 1 - 3 deposits. Other months are 4 - 6
He has no cash advances out currently and credit mid 6s.
He has 3 pieces of land, but not enough equity for a WBL deal.
Let me know what you guys think here
-
10-01-2019, 02:25 PM #2
most (legitimate) places will do a seasonal business if you provide 12 months of banks. The issue is, are we going INTO slow season, or coming OUT OF slow season?
Gotta admit, Business Backer has been oneof the most flexible companies out there with these types. They will fluctuate the daily payment in accordance with the season
-
10-01-2019, 03:09 PM #3
- Join Date
- Jan 2018
- Posts
- 92
Thanks. He is going into his season, and I do have 12 months of statements. The problem I am seeing is that some months, he is really low.. Like one month was 1 deposit $350, another was 1 deposit $9,000
I did reach out to business backer for a partnership, so hopefully they can help.
-
10-01-2019, 03:20 PM #4
- Join Date
- Mar 2019
- Posts
- 95
-
10-01-2019, 03:30 PM #5
-
10-01-2019, 03:46 PM #6
- Join Date
- Jan 2018
- Posts
- 92
-
10-01-2019, 05:58 PM #7
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Amiran5,
Is the client profitable? If yes- there are bank options available to help. The 20k per month is not representative of the loan size--the amount of Debt Service Coverage available will be the driver. We mentioned it last week- client with 75k per month received a 350k LOAN- plus a line of credit- based on guarantor credit and earnings.
Client might be eligible for up to 150k. He's also in the Northeast and one of our Main Banking relationships will give us approvals within 48 hours of a full submission (2 years Corp and Personal returns, Debt Schedule, YTD PL and Balance, and Application).
Our Partnership Director, Jared Lagemann, can be emailed at jared@bccusa.com, or call our office at 631-880-7501.
Richard Gusmano, CEO & Founder
Business Capital Consultants USA
3237 Route 112 Suite 9
Medford, NY 11763
Richard@bccusa.comLast edited by RichardGerard; 10-01-2019 at 06:11 PM.
-
10-02-2019, 11:47 AM #8
- Join Date
- Aug 2019
- Posts
- 197
-
10-02-2019, 01:41 PM #9
- Join Date
- Dec 2013
- Posts
- 4,713
MAntis
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
Similar Threads
-
Seasonal Business Training
By ava712 in forum Deal BinReplies: 1Last Post: 12-05-2017, 04:40 PM -
Do anybody do term Loan or MCA for a Seasonal Business?
By Creative Lender in forum Deal BinReplies: 7Last Post: 06-30-2017, 12:39 PM -
Seasonal business - construction
By csbdave in forum Merchant Cash AdvanceReplies: 6Last Post: 02-22-2016, 09:37 AM -
Seasonal Trucking Business
By mca123 in forum Deal BinReplies: 8Last Post: 01-23-2015, 01:00 PM -
Business developers to handle high volume of ISO's
By robertFUA in forum Help WantedReplies: 1Last Post: 05-26-2014, 02:37 PM