Results 1 to 20 of 20
Threaded View
-
10-01-2014, 03:48 PM #7
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
I know one lender that they will have to net 35% the rest are 50% and up
Questions to ask yourself- When did they take the advance? If it's less than a month (sometimes two) - FAT CHANCE - We know the trick. Do a payoff, lender gets paid, wait a month- do it again.
What is their monthly gross for the past 3 months? Average that- roughly do 80% (max) of that and see if they can net 50% and do a payoff ***Every UW and company is different- this is if the merchant has great statements and awesome credit....I only know this because I've seen a merch with $120K avg balances, get an $85xxx approval and pay off an est. $50k that they had a balance with. BUT the loan was a longer term AND the company who did the payoff and first position put them in a better place. You really have to ask yourself if it makes sense
Similar Threads
-
Need help from a solid lender
By getlikwid247 in forum Business LoansReplies: 12Last Post: 01-14-2015, 04:41 PM -
Solid deal, $25k deposits, 7 years in biz, need approval asap
By fastapproval in forum Deal BinReplies: 3Last Post: 09-02-2014, 10:45 AM -
Solid Leads, You need them I have them
By mrcash420 in forum PromotionsReplies: 0Last Post: 08-20-2014, 08:03 AM