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11-13-2019, 09:30 AM #1
Reputation points: 752
- Join Date
- Apr 2014
- Location
- Chicago, IL
- Posts
- 185
Low Volume High Deposit Deal
I have a LA based marketing firm that does an average of $120K per month between 5-6 transactions.
No NSFs. ADBs average $3K range with lowest ones reaching $300 and highest at $56K.
Credit score is in the 650s.
Has a first for $21K that he'd like consolidated into a longer term advance.
Best offer I have for him so far is at $45K with a 6.5 mo payback at 1.45. Not exactly a homerun.
Any other direct lenders out there who consider this type of transaction? I feel like the low volume on deposits puts him in subprime category in standard u/w guidelines almost immediately.
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