[BP4130]

Retail: Hardwares
Business since: 2008
Monthly deposits: $150k-$180k
Credit: 620-650
Ending balance: $8,000 ($1200 on January)
Consolidate 2 loans (OnDeck and one another)
$200,000 to net $70-80k
Must be competitive enough to consolidate

We only have offers as 3rd position.

Who's good at this? Thanks DF!

[WestCoastFunding]

Essentially asking for $280,000 for a company doing $150-180k a month?

This isn’t getting done as an MCA.

[ridextreme]

Idk why people don't know or research the business and requirements for approvals before diving into it and asking these kinds of questions. He owes 130K and he grosses 150K/mo (assuming it's pure revenue and not transfers or loans) so he would need to qualify for 260K.

I think the question should be how do I sell this 3rd position to the business owner instead of asking how to put a squre peg into a round hole.

[SFC]

Retail: Hardwares
Business since: 2008
Monthly deposits: $150k-$180k
Credit: 620-650
Ending balance: $8,000 ($1200 on January)
Consolidate 2 loans (OnDeck and one another)
$200,000 to net $70-80k
Must be competitive enough to consolidate

We only have offers as 3rd position.

Who's good at this? Thanks DF!

If they have any equity in their homes, I'm sure WBL will be happy to %$#@ them.

[jlux]

hey call my office I can get this deal done for you all long 8606976399

[MCN]

hahahaah hahaha

[thesmartermerchant2020]

BP4130,


SPRING 2020 UW GUIDELINES:

PREMIUM- 3-10 MONTHS - 1.15 - 1.25 BUYRATES - UPSELL TO 15 POINTS - BUYOUT INTO 1st POSITION -1st AND 2nd POSITIONS- DAILY/WEEKLY OPTIONS - 675 FICO - 30k MINIMUM MONTHLY SALES - UP TO 2 DAYS NEGATIVE - 30 MONTHS MINIMUM TIME IN BUSINESS

STANDARD- 3-9 MONTHS - 1.21 - 1.32 BUY RATES - UPSELL TO 12 POINTS - BUYOUT INTO 1st AND 2nd POSITION - 1st - 3rd POSITION FUNDING - DAILY/WEEKLY OPTIONS- 550 FICO - 10k MINIMUM MONTHLY SALES - UP TO 5 DAYS NEGATIVE - 12 MONTHS MINIMUM TIME IN BUSINESS

HIGH RISK- 2.5-5 MONTHS - 1.28 - 1.37 BUY RATES - UPSELL TO 10 POINTS - NO CONSOLIDATIONS - 1st-6th POSITION FUNDING - DAILY PAYMENTS ONLY - NO CREDIT SCORE MINIMUM - 10k MINIMUM MONTHLY SALES - UP TO 7 DAYS NEGATIVE- 6 MONTHS MINIMUM TIME IN BUSINESS

John Galante
The Smarter Merchant
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