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09-24-2020, 04:26 PM #1
- Join Date
- Nov 2019
- Posts
- 24
Existing MCA customer
Hello everyone, I have an existing MCA client that would like to do a new MCA loan for $10K, and his average balance is around $18K. His credit score is 600. the only catch is that he would like to keep his weekly payments at or below $200. Is this even possible?
Thanks
Kelton Brunt
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09-24-2020, 04:37 PM #2
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 474
Sure... credit card split could do this. Call Jason Sterling at Quikstone.
A cc split is based on % of sales... on days he does better, he pays more. On days he does less, he pays less.Last edited by Steven_O; 09-24-2020 at 04:51 PM.
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09-24-2020, 04:44 PM #3
- Join Date
- Jul 2014
- Posts
- 92
At 200/wk it would take him a year just to pay back the 10k... If he gets 8mo/1.30 He'd be looking at over $400/wk. If you determine he can actually afford more than $200/wk then work on setting expectations (you didn't mention his rev). If $200 is truly all he can afford then $10k is not going to work with MCA in the current market
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10-27-2020, 05:17 PM #4
I can get this done. Please PM me
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