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03-02-2020, 12:05 PM #1
- Join Date
- Apr 2017
- Posts
- 127
Negatives in Bank Statements
Hi, can everyone please list Direct Lenders who are okay with a lot of negative days? 5+ 10+ negatives
This resource will help us and anyone else that sees this who encounters deals like this.
Thank you!
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03-02-2020, 12:19 PM #2
- Join Date
- Dec 2013
- Posts
- 4,713
Mantis !! I have been told by the largest Brokerage Shops in the country (that use data to compare funders) that Neg days --Sub 500 / Low # of deposits --We are the Kings
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
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Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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03-02-2020, 12:41 PM #3
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- Oct 2016
- Posts
- 4,318
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03-02-2020, 01:03 PM #4
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- Apr 2017
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- 127
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03-02-2020, 01:09 PM #5
- Join Date
- Dec 2013
- Posts
- 4,713
Westcoast happens to be wrong....Not becuase he means bad ... at times someone will say walmart does not sell Kayaks when in reality they do... Of course there are times we decline for Neg days but if we decline the general finding is one else will go onto funding that file.....
Last edited by mcaguru; 03-02-2020 at 01:11 PM.
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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03-02-2020, 02:23 PM #6
- Join Date
- Oct 2016
- Posts
- 4,318
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03-04-2020, 05:35 PM #7
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03-04-2020, 11:16 PM #8
- Join Date
- Oct 2016
- Posts
- 4,318
Marcus is perpetually full of ****. He’s quick to talk about how mantis is supposedly one of the biggest funders, but has never released a single datapoint to back it up.
I mean, if they were so successful, why are they reliant on paying their reps by adding ****ing PSFs to contracts for them?
No one else in the industry does that.
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03-02-2020, 12:53 PM #9
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- Sep 2019
- Posts
- 402
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03-02-2020, 01:14 PM #10
- Join Date
- Apr 2017
- Posts
- 127
Thanks!
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03-02-2020, 02:00 PM #11
- Join Date
- Oct 2019
- Posts
- 49
Red,
Our high risk allows up to 7 negative days. Check out our guidelines:
Consider The Smarter Merchant & visit The Smarter Merchant's Facebook page: https://www.facebook.com/groups/thesmartermerchant/
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
ISO Relations
johng@thesmartermerchant.com
C: 347-377-1273
P: 888-262-7171
F: *646-219-2731
www.thesmartermerchant.com
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03-02-2020, 03:06 PM #12
When there are negative days you also have to look at NSFs, returned items, exactly what they are bouncing on. Every deal is unique, reach out if you are not already signed up.
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03-02-2020, 03:25 PM #13
- Join Date
- Jun 2014
- Posts
- 541
Cooper will fund won't decline for negative balance days. We are instead focused on excessive returned items.
Robert S Bloink
EVP of ISO Partnerships
Direct: 248-341-9477
Email: bb@cooperasset.com
Web: www.cooperasset.com
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03-02-2020, 06:12 PM #14
- Join Date
- Dec 2013
- Posts
- 4,713
I want to remind you all -- No matter how much i love to market mantis funding --i always play fair! I have never told an ISO (which i can do 30 times a day or more) hey... we just funded your 150K Contractor now go on daily funder and tell the world about how you submitted at 11:00AM and got the merchant funded at 3;30PM--- i don't do that --- what i will do is state facts that we legitimately earned -- with that said i have heard from the largest MCA Brokerage(DATA-Heavy) Shops that Mantis is far ahead of the competition on NSF's/ Sub500/ Trucking/ Construction / etc./inconsistent revenues /Nano/Micro...
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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03-03-2020, 01:29 PM #15
- Join Date
- Sep 2019
- Posts
- 7
does this client take cc in they business
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03-05-2020, 01:18 AM #16
- Join Date
- Dec 2017
- Posts
- 277
Quikstone Capital Solutions and Merchant Cash Group via CC Split.
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03-05-2020, 01:22 PM #17
- Join Date
- Jul 2015
- Location
- Tampa Florida
- Posts
- 498
Jason H l Sales & Business Development
Quikstone Capital Solutions l Tampa FL
Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
Jason.Hausle@quikstonecapital.com
www.quikstonecapital.com
Direct Lender Since 2005
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