Merchant who doesnt have online banking
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  1. #1
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    Merchant who doesnt have online banking

    Are there any lenders out there who would still fund a deal for a merchant who doesn't have online banking set up. If your answer is to have the merchant set up online banking dont bother responding. Looking for lenders who do not require it.

  2. #2
    The Fundworks at times has accepted direct fax from the merchants bank, this is a case by case. Good luck.

  3. #3
    Veteran Reputation points: 158919 J.Celifarco's Avatar
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    A lot of funders will do a 3 way call with the merchant and the bank to confirm info in the account if you get a MTD printout for bank transactions
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  4. #4
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    Quote Originally Posted by MCN View Post
    Are there any lenders out there who would still fund a deal for a merchant who doesn't have online banking set up. If your answer is to have the merchant set up online banking dont bother responding. Looking for lenders who do not require it.
    Wow you'd think this thread is from 1990. Merchant may not have online banking now but when it comes time to put a stop payment, boy will he have access.

  5. #5
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    Quote Originally Posted by SFC View Post
    Wow you'd think this thread is from 1990. Merchant may not have online banking now but when it comes time to put a stop payment, boy will he have access.
    Ive gotten him 3 advances in the past, all paid off now besides one which will fall off soon so hes's a good merchant. Can go back to those other ones but looking for some other options.

  6. #6
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    Quote Originally Posted by MCN View Post
    Ive gotten him 3 advances in the past, all paid off now besides one which will fall off soon so hes's a good merchant. Can go back to those other ones but looking for some other options.
    If he's a payer, make it rain!

  7. #7
    Senior Member Reputation points: 65063 TheConfidentBroker's Avatar
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    Quote Originally Posted by MCN View Post
    Are there any lenders out there who would still fund a deal for a merchant who doesn't have online banking set up. If your answer is to have the merchant set up online banking dont bother responding. Looking for lenders who do not require it.
    It's 2020. RED FLAG. If you dont have online banking set up theyre scamming.
    Funding is Temporary. Wu-Tang is Forever.

  8. #8
    Senior Member Reputation points: 65063 TheConfidentBroker's Avatar
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    Quote Originally Posted by MCN View Post
    Ive gotten him 3 advances in the past, all paid off now besides one which will fall off soon so hes's a good merchant. Can go back to those other ones but looking for some other options.
    If you got him 3 advances before why arent you going back to those 3 funders?
    Funding is Temporary. Wu-Tang is Forever.

  9. #9
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    Quote Originally Posted by TheConfidentBroker View Post
    It's 2020. RED FLAG. If you dont have online banking set up theyre scamming.
    Not necessarily. There are some older business owners that do not use online banking and some that are afraid of online banking for security reasons. I know plenty of business owners and professionals that do NOT use online banking for personal and/or business. Hell-I know people that still go to a branch to get cash instead of using an ATM.

    KH
    Hedley Lamarr......That's Hedley

  10. #10
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    Quote Originally Posted by TheConfidentBroker View Post
    If you got him 3 advances before why arent you going back to those 3 funders?
    I can. Trying to get him a better deal this time.

  11. #11
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    I’ve found that really no one makes it a part of their regular process, but if you’ve got a good relationship with the funders, some make exceptions and will accept a MTD directly from bank as well as do a threeway call with a bank for verification. So it really depends on who you have good relationships with. And, of course, many (if not most will not).

  12. #12
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    if you cant do a simple login you dont deserve funding

  13. #13
    Quote Originally Posted by harvey View Post
    if you cant do a simple login you dont deserve funding
    I know a spot but merchant must be over 60

  14. #14
    I would say try kalamata (If that's not who they are currently paying & if you didn't stack them with the other 2 funders.) I know they don't always require manual login. They need a fax from the bank & banker verification.

    Hit up Bruce. He's good people.

  15. #15
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    Quote Originally Posted by Keebler View Post
    I would say try kalamata (If that's not who they are currently paying & if you didn't stack them with the other 2 funders.) I know they don't always require manual login. They need a fax from the bank & banker verification.

    Hit up Bruce. He's good people.
    Bruce is legit one of the greatest guys in this industry.

  16. #16
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    We will do it @ Flash Advance with a MTD and a 3 way call with the bank and merchant on the phone at the same time . jstrelzik@flashadvance.com

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