Results 1 to 25 of 26
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12-26-2019, 04:27 PM #1
- Join Date
- Dec 2019
- Posts
- 4
High Risk Micro Deal Lenders
Hey all - just joined and looking forward to getting to know some of you.
I'm wondering if anyone knows of a high risk lender comparable to Vader that can do soft pulls for soft offers. Hard pull going into contract phase is fine. Vader is hard pull only which kills a lot of applications for me but I can't seem to find anyone else that can offer funding to merchants like them.. something like the following:
1. Accept monthly deposits as low as $3k or even $5k would be great.
2. Funds a few month old businesses.
3. 475+ credit
#1 is really the biggest thing I'm looking for.
Thanks in advance!
David
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12-26-2019, 04:48 PM #2
- Join Date
- Jan 2017
- Posts
- 386
Welcome!
Paul Boxer
Merchant Marketplace
Chief Operating Officer
Chief Revenue Officer
Cell: (516) 805-9209
paul@merchantmarketplace.com
www.merchantmarketplace.com
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12-26-2019, 07:05 PM #3
Lot of red flags on that file when looking it from a lender perspective. How many deposits monthly, and how are their ledgers? With them in biz only a few months too you might want to direct them to a credit repair avenue and advise them to keep healthy balances and try again in a few months. The only funding houses I know of that accept 6 months in biz(ish) generally only do restaurants or retail so the industry type might add to the difficulty here.
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12-26-2019, 09:16 PM #4
- Join Date
- Sep 2019
- Posts
- 402
SuperFast Capital... give Joe a shout Joe@superfastcapital.com
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12-27-2019, 09:58 AM #5
- Join Date
- Mar 2016
- Posts
- 904
When it comes to the super small files with sub 500 credit that need 2-4k in fundings, theres a handful of ISO reps here who will take that pipeline on. Feel free to reach out and ill have one of the guys board you and hopefully get some wheels turning.
5k per month and decent daily balances is probably the lowest qualifications we will need to submit a file. Credit score isn't so important. (We do Soft Pulls)Thank you,
Lior Monus
Business Development Manager
CFG Merchant Solutions
Direct: (646) 880-6764
Cell: (516) 319-5826
Fax: (646) 278-7322
Lmonus@cfgms.com
180 Maiden Lane New York, NY 10038
www.cfgmerchantsolutions.com
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12-27-2019, 10:40 AM #6
- Join Date
- Feb 2019
- Posts
- 124
Bitty Advance? not sure how they pull credit though.. 400+fico, 5k min deposits. all industries
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12-28-2019, 07:52 PM #7
- Join Date
- Dec 2019
- Posts
- 4
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12-28-2019, 07:53 PM #8
- Join Date
- Dec 2019
- Posts
- 4
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12-28-2019, 07:56 PM #9
- Join Date
- Dec 2019
- Posts
- 4
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12-29-2019, 08:42 PM #10
- Join Date
- Sep 2019
- Posts
- 402
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12-30-2019, 10:09 AM #11
- Join Date
- Dec 2018
- Posts
- 36
I know Bitty is charging a monthly maintenance fee now so keep that in mind. Another option I use alot is Vader, they do 4k avg dep/475 credit and one month in business minimum.
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12-30-2019, 12:45 PM #12
- Join Date
- Jun 2019
- Posts
- 194
There are a few good ones besides Vader, but lately been primarly using SuperfastCapital. Their fast as hell!
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12-30-2019, 12:52 PM #13
- Join Date
- Feb 2017
- Posts
- 3,416
So I'd love to sign up with Superfast Capital, but it's a weird thing to ask for a SSN on an ISO rep application unless you're a larger shop, don't you think? I don't have anything to hide, but very few funders are asking for that these days. I'd like to hear some other feedback from members with a bit more rep before signing up?
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12-30-2019, 01:04 PM #14
- Join Date
- Dec 2013
- Posts
- 4,713
Are they not the funding floor ? and just an exchange? or am i seeing another company with same name ?
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
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12-30-2019, 01:12 PM #15
- Join Date
- Dec 2018
- Posts
- 36
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12-30-2019, 01:40 PM #16
- Join Date
- Feb 2017
- Posts
- 3,416
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12-30-2019, 01:42 PM #17
- Join Date
- Sep 2019
- Posts
- 402
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12-30-2019, 01:45 PM #18
- Join Date
- Sep 2019
- Posts
- 402
Feel free to reach out directly. With everything going on in the space, knowing who you are working with from a Funders perspective is going to be the best way to stay ahead of regulations. Asking for SSN ensures that we know who are partners are and that we aren't working with people who've committed serious fraud in this industry or on other people. Certainly happy to provide references.
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12-30-2019, 01:46 PM #19
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,481
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-30-2019, 01:52 PM #20
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12-30-2019, 01:53 PM #21
- Join Date
- Dec 2018
- Posts
- 36
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12-30-2019, 01:56 PM #22
- Join Date
- Sep 2019
- Posts
- 402
Certainly not ones that put out offers as quick as we do or that have online checkout for your merchants! But yup, there's no shortage of funders in MCA.
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12-30-2019, 02:13 PM #23
- Join Date
- Dec 2013
- Posts
- 4,713
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
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12-30-2019, 03:14 PM #24
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12-31-2019, 01:37 PM #25
- Join Date
- Feb 2017
- Posts
- 3,416
Okay, so after being transparent, they've won my trust. They know me from here, they let me wiggle out of giving over my SSN. I sent them a deal, and it's actually a very good offer considering the client has a horrific criminal background and a restricted SIC code. I actually even tested them to see if they knew about the negative background - they say no stips, wanted to know how far that goes. (I wouldn't let them fund without knowing about it, and they did, and they are comfortable with it, 1,49/90.) Let's see what the client wants, but they appear to be the real deal. I like the model they're using with no buy rate, just 10 points built in - just makes everything so much faster, and if it closes as-is, great, if not, then onto the next one.
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