Need a Funder or Vendor? START HERE

Results 1 to 9 of 9
  1. #1
    Senior Member Reputation points: 8536
    Join Date
    Dec 2015
    Location
    Los Angeles, CA
    Posts
    121

    CC Split for Restaurants depositing $10K - $20K

    Have a gap to fill...

    Been getting a lot of restaurants (reduced revenues since Covid-19) that are depositing $10,000 - $15,000 monthly. They are more interested in a CC split opposed the a daily ACH. - Since 2017 we haven't done too many splits so we only have a couple funders that will consider this.

    I was hoping to get some recommendations of some direct funders that are actively funding these types of files.

    If you're direct and would like to discuss some deals please PM.

    Thanks!

  2. #2
    Merchant Cash Group does splits and are a pleasure to work with

  3. #3
    Senior Member Reputation points: 7232 NationalCorporateData's Avatar
    Join Date
    Oct 2020
    Location
    Beacon, NY
    Posts
    121

    Quote Originally Posted by getitfunded View Post
    I was hoping to get some recommendations of some direct funders that are actively funding these types of files.
    First-position: Credibly, Elevate, OnDeck, Quikstone, RapidFinance, and Snap Advances

    Second- and third-position: Quicksilver, PIRS, RDM

    Honorable mentions: BFS and Principis, though neither are currently funding

  4. #4
    Senior Member Reputation points: 44858
    Join Date
    Apr 2019
    Posts
    319

    inb4 yankeeman /dave gets here and offers his services, hes does CC splits btw, give him a try. also quickstone i believe.

  5. #5
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Thank you for the recommendation - Yes we do lock box splits and if by chance we can change their processing over, we can eliminate the lock box.

    With the restaurant industry, that may not occur since many have POS Systems.

    We also offer structured disbursements that many merchants seem to accept.
    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

  6. #6
    Member Reputation points: 248
    Join Date
    Sep 2020
    Location
    New York, NY
    Posts
    10

    Quote Originally Posted by NationalCorporateData View Post
    First-position: Credibly, Elevate, OnDeck, Quikstone, RapidFinance, and Snap Advances

    Second- and third-position: Quicksilver, PIRS, RDM

    Honorable mentions: BFS and Principis, though neither are currently funding

    Is quicksilver funding new business again? Or just renewals?

  7. #7
    Senior Member Reputation points: 7232 NationalCorporateData's Avatar
    Join Date
    Oct 2020
    Location
    Beacon, NY
    Posts
    121

    Quote Originally Posted by PattyKFunds View Post
    Is quicksilver funding new business again? Or just renewals?
    We don't work files, but they're funding new business as far as we know. Maybe only working with select ISOs?

  8. #8
    Senior Member Reputation points: 8447
    Join Date
    Jul 2015
    Location
    Tampa Florida
    Posts
    488

    Quote Originally Posted by getitfunded View Post
    Have a gap to fill...

    Been getting a lot of restaurants (reduced revenues since Covid-19) that are depositing $10,000 - $15,000 monthly. They are more interested in a CC split opposed the a daily ACH. - Since 2017 we haven't done too many splits so we only have a couple funders that will consider this.

    I was hoping to get some recommendations of some direct funders that are actively funding these types of files.

    If you're direct and would like to discuss some deals please PM.

    Thanks!
    We have been exclusively funding credit card split deals since 2005. We are a 100% direct lender with no credit lines to answer to.
    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

  9. #9
    Thanks for the recommendation Pat.

    If anyone needs more info on MCG, please don't hesitate.
    Andrew Roberts
    Merchant Cash Group
    212 532 9200
    andrew@merchantcashgroup.com

Similar Threads

  1. Loans for restaurants
    By glfunding in forum Business Loans
    Replies: 1
    Last Post: 10-26-2020, 12:34 AM
  2. Looking for consolidation for 2 restaurants
    By Amiran5 in forum Deal Bin
    Replies: 3
    Last Post: 07-09-2019, 11:35 AM
  3. Replies: 0
    Last Post: 09-17-2018, 09:34 AM
  4. Merchant depositing over 100k a month with open personal bankruptcy
    By MCABroker123 in forum Merchant Cash Advance
    Replies: 2
    Last Post: 05-02-2018, 05:01 PM
  5. Replies: 8
    Last Post: 02-19-2016, 07:01 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY