Who would do a long 2nd on this file?
Need a Funder or Vendor? START HERE

Results 1 to 7 of 7
  1. #1
    Senior Member Reputation points: 5633
    Join Date
    Mar 2019
    Posts
    105

    Who would do a long 2nd on this file?

    Industry: Restaurant
    Credit: 750+
    TIB: January 2018
    Monthly Gross: 110k, steady
    ADB: 8k
    3 Most Recent Month NDs: 1 in September, 3 August, 1 in July
    Positions: 1, w/ Quickbridge @ 225/day (25k balance, funded 30k in late July)

    Have 55k on a 1st at a 1.32 that he was planning on moving forward with. He just got offered a 1.32 40k 12 month 2nd.

    Who would do a long 2nd on this?
    Just sent to Quarterspot. Looking to reach out to LG if anyone has there contact details and just reached out to Knight as I don't have agreements in place w/ them.

    IOU won't do a 2nd due to TIB under 2 years.

    Anyone else that I could be losing this deal to?
    Last edited by ryanh; 10-04-2019 at 01:29 PM. Reason: Added IOU to feed

  2. #2
    Senior Member Reputation points: 203690
    Join Date
    Jan 2014
    Posts
    1,370

    Ondeck online checkout all day 1st position, they can prob offer 150k over 18months with that credit score....ARF also has great programs for restaurants

  3. #3
    Senior Member Reputation points: 18943
    Join Date
    Feb 2019
    Posts
    124

    x2 for ondeck.. how did he only get 55?
    I would get the CCs and sub for a split too. Increase your chances of funding this merchant

  4. #4
    Senior Member Reputation points: 5633
    Join Date
    Mar 2019
    Posts
    105

    Thanks guys. Anyone have any good contacts that may be able to help me get an ISO Agreement w/ them? When I reached out a few months back they were only taking on referral partners where they pitch your deal for you which is a no go for me.

  5. #5
    Senior Member Reputation points: 11927 FUND3R1's Avatar
    Join Date
    Aug 2017
    Posts
    213

    RDM might do a weekly, Fundworks..
    FUND3R1

    "Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each. --Christopher Rice"

  6. #6
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,318

    Quote Originally Posted by Sachip24 View Post
    Ondeck online checkout all day 1st position, they can prob offer 150k over 18months with that credit score....ARF also has great programs for restaurants
    100% this. Would also add Principis to the mix on this for either a 1st or 2nd.

  7. #7
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,318

    Quote Originally Posted by ryanh View Post
    Thanks guys. Anyone have any good contacts that may be able to help me get an ISO Agreement w/ them? When I reached out a few months back they were only taking on referral partners where they pitch your deal for you which is a no go for me.
    If that’s what they offered you, you could probably get OnDeck to allow you to pitch the deal yourself, but you’d still get 5 points until you reach a certain monthly funding threshold.

Similar Threads

  1. Lenders that do not file a UCC
    By CashAdvanceKing in forum Merchant Cash Advance
    Replies: 9
    Last Post: 06-11-2018, 02:48 PM
  2. Which Lenders Do Not File UCC ?
    By DfrankFunder in forum Merchant Cash Advance
    Replies: 10
    Last Post: 01-04-2017, 02:09 AM
  3. Is There An X-File for Banking?
    By isaacdstern in forum Merchant Cash Advance
    Replies: 13
    Last Post: 01-26-2016, 12:32 PM
  4. Did Can Capital file their S1?
    By isaacdstern in forum Merchant Cash Advance
    Replies: 4
    Last Post: 04-17-2015, 04:17 PM
  5. help w this file...
    By AMERICApital1 in forum Deal Bin
    Replies: 8
    Last Post: 08-20-2014, 04:21 PM


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

Pipe secures $100M credit facility
Cloudsquare: 14 new lender APIs
FundKite survey finds 77%


DIRECTORY