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  1. #1

    Looking for a funder to one of my clients

    A client with a successful Asian cousin is looking for funds. The problem is that the restaurant is on the east coast and providing only deliveries due to state restrictions. The Merchant had an avg of 60K in CC sales before the virus, his CC sales dropped to an avg 30K, he always used to work with CC split, he has another 10% to pay to the lender that he works with all those years, but the specific lender is out right now... Credit 650, he is also looking for a different types of products that can help him get funded.

  2. #2
    Senior Member Reputation points: 81655
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    Quote Originally Posted by LeoN1992 View Post
    A client with a successful Asian cousin is looking for funds. The problem is that the restaurant is on the east coast and providing only deliveries due to state restrictions. The Merchant had an avg of 60K in CC sales before the virus, his CC sales dropped to an avg 30K, he always used to work with CC split, he has another 10% to pay to the lender that he works with all those years, but the specific lender is out right now... Credit 650, he is also looking for a different types of products that can help him get funded.
    The amount of the balance?
    Pay off existing balance and use the remaining on a credit card split / lock box.

    2nd option, have the merchant increase his FICO near 700, then look at a SBA 7(a) working capital loan.

    3rd option - does the merchant have equity in commercial real estate?
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  3. #3
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    Quote Originally Posted by LeoN1992 View Post
    A client with a successful Asian cousin is looking for funds. The problem is that the restaurant is on the east coast and providing only deliveries due to state restrictions. The Merchant had an avg of 60K in CC sales before the virus, his CC sales dropped to an avg 30K, he always used to work with CC split, he has another 10% to pay to the lender that he works with all those years, but the specific lender is out right now... Credit 650, he is also looking for a different types of products that can help him get funded.
    this should be an easy refi to get done. Especially if he is already on a split just find a funder who works with the same cc processing company and you can turn this deal around in a day
    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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    We can take a look at this deal for you.

    Submittal:
    1.Signed application
    2.Credit card processing portal username and password
    3.February March April business bank statements
    4.Payoff letter or balance screenshot for existing deal
    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

  5. #5
    Still looking for an option? Please call me to discuss as we might do it 310-562-9676

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