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04-08-2020, 12:48 PM #1
- Join Date
- Mar 2020
- Posts
- 17
6th avenue NOW FUNDING ALL STATES **ESSENTIAL BUSINESSES ONLY**
Below is our updated Temporary Guidelines.
Due to the current COVID-19 situation*
Max Term for the all SIC Code 7 months (1st pos) – Funding Cap up to 50K***
No High gross 1st
No MCA Consolidations and/or payoffs
No 2nd Position **Exception maybe granted
WE ARE ONLY FUNDING Essential business ONLY - ALL STATES
Mid Risk Pricing (Express program Stips)
Max Advance $20,000
Max Advance $50,000 (ONLY for Key Essential Businesses i.e Healthcare)
Min Advance $5,000
7-month max Term (Pending on hard hit areas only 4 months)
Min 2 yrs TIB
Min 600 credit score
Average Min monthly sales $35,000
Average Min ADB $1,500
No second positions, No refinances, No consolidations- This only for TRUE first positions
We will review last three months of average, but use MTD (The last 2 weeks are key for pricing)
If greater than 40% (Auto Decline)
Must be open - Merchant must submit Adjustment hours and Staff - Video Recording During Merchant Call to show proof they are open.
No One man office / Merchant
Funding time frame is case by case
10 points upsell
Trucking
Time in Business: 5 years
Credit: 600 (Below – pending what on the credit- approved by Management)
10 Trucks or more (Must be operational and owned not leased)
Min Sales (income per month not average): 100K
Funding Cap 20K
Max Term 4 months
Must provide upcoming shipment orders
Essential Businesses
Food
Restaurant Take out ONLY
Healthcare:
* Most Medical Practices (including dentists and chiropractors) (MUST BE OPEN)
* Pharmacies
* Medical Laboratories
* Nursing Care Facilities
* Home Health Care Services
* Veterinarians
* Medical Equipment and Supplies
Retail:
* Grocery Stores
* Liquor Stores
* Tobacco Stores
* Convenience Stores
Services:
* Funeral Services
* Laundry and Dry Cleaning Services
* Building Cleaning and Maintenance
Specialty Trade Contractors:
* Plumbing, Heating, AC
* Electricians
Automotive:
* General Automotive Repair
* Tire Retreading and Repair
* Transmission Repair
* Glass Replacement
Manufacturing:
* Consumables (Food, Beverage and Tobacco)
* Food Product Machinery
* Medical Devices, Instruments and Supplies
* And other Manufacturers supporting all approved industry types
Thank you
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