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  1. #1

    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

  2. #2
    Senior Member Reputation points: 39157
    Join Date
    Oct 2014
    Location
    Naples, FL
    Posts
    471

    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.

  3. #3
    Quote Originally Posted by kelton37 View Post
    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

    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

  4. #4
    I can get this done. Please PM me

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