Results 1 to 12 of 12
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12-10-2020, 06:10 PM #1
- Join Date
- Oct 2020
- Posts
- 28
Transportation Deal
The client started out with a 75 dollar a day payment with MCA, then he asked if he could go on a weekly payment schedule. Lender wouldn't do this so they asked him if they could change the payments to 50 dollars a day. Client agreed but then realized after paying 50 a day for 2-3 weeks that it would take too long to pay it back so he asked them to go back to the original 75 dollars a day which is where it is now. Client only owes 3000 with them right now. Because the payments were changed by the lender even though the client is in good standing and the lender suggested the payment change, I'm having a tough time getting it closed. Nov 29k, oct 22k, Sept 15k. PM me if you can do this deal.
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12-10-2020, 06:39 PM #2
Might not be too helpful, but something on company letterhead stating that the arrangement was offered by the funder rather than requested by the merchant? Probably will depend on who the funder was also.
Generally, these will fund transportation:
Credibly, Cresthill/Mantis, Elevate, Expansion, Fundry, QuickSilver, Silverline
Likely missing some mid-tier funders from the list here. Many others will do transportation but not at this level of revenue.
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12-10-2020, 07:42 PM #3
- Join Date
- Apr 2014
- Posts
- 781
Pm sent
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12-11-2020, 01:55 PM #4
- Join Date
- Oct 2020
- Posts
- 28
Thank You Brother
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12-11-2020, 01:56 PM #5
- Join Date
- Oct 2020
- Posts
- 28
Thank You Buddy !
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12-11-2020, 03:59 PM #6
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12-11-2020, 04:04 PM #7
- Join Date
- Apr 2020
- Posts
- 130
Agreed with NationalCorporataData. You will need an official letter from the funder stating that was their doing in order to get that done unless you find a pop up spot who is just looking to send wires lol
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12-12-2020, 12:12 PM #8
- Join Date
- Dec 2019
- Posts
- 7
I can get this done with my group, please reach out.
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12-12-2020, 06:49 PM #9
- Join Date
- Dec 2015
- Location
- Los Angeles, CA
- Posts
- 121
Transportation, lowered payments, declining revenues... tough deal to get done.
Only way to possibly get an offer would be to request the payback months from the merchant, get clarification on the 51% decline in revenues from Sept thru Nov, obtain a letter from the funding company stating that they offered the lowered structure (but they they will know he is shopping), and hope that a lender will understand the situation, believe in the business, and be comfortable taking the risk.
I would say you have a 5% - 10% chance of getting an offer that will be declined after decision logic (assuming the revenues will continue to decline).
God speed.
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12-13-2020, 07:41 PM #10
- Join Date
- Mar 2019
- Posts
- 254
If I had a dollar for every time I heard someone say that the funder offered to lower the payments....
I doubt any funder will take the time to write a letter if tthat if that is in fact the case.
no funder willing wants to lower payments unless:
1. the merchant is bouncing/ cannot afford the larger payment and the funder thinks that by lowering it, the payment will clear.
2. the funder is playing games with the debits in order to throw off other funders.
best bet is to find a funder that is comfortable with the deal despite the lowered payment in recent months. If you are upfront and honest about it, and the funder still likes the deal, and everything else checks out, the funder should have no problem funding it for youEPIC ADVANCE
Mark@epic-advance.com
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12-14-2020, 09:50 AM #11
- Join Date
- Nov 2020
- Posts
- 66
If this hasn't funded yet send it my way.
We fund transportation all the time!
Matt Spinelli
ISO Manager at Spartan Capital
201-907-4042
matt@spartancapitalgroup.com
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12-14-2020, 10:07 AM #12
- Join Date
- Apr 2020
- Posts
- 130
Really what I meant was nobody is going to do that and that its waste of time lol But if you're able to get the letter and show that the funder did it(highly unlikely) then by all means try and get it done somebody will look at it!
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