Results 1 to 12 of 12
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12-17-2020, 06:54 PM #1
- Join Date
- Nov 2020
- Location
- BROOKLYN, NY
- Posts
- 9
Seeking lenders
Can a merchant be funded with a business loan or MCA while in personal Ch. 13? If so, does anyone know an MCA company that will fund a merchant like this?
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12-17-2020, 10:50 PM #2
Most funders won't within 6-12 months of a bankruptcy. Some will do more recently if the BK was discharged and not dismissed. We have in notes that LCF can fund an open Chapter 13 but this may have changed with COVID, can anyone confirm this?
Another option to look into would be debtor in possession (DIP) financing.
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12-18-2020, 01:36 AM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,952
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
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12-18-2020, 11:21 AM #4
- Join Date
- Nov 2020
- Location
- BROOKLYN, NY
- Posts
- 9
Thank you for the input; I will look into this.
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12-18-2020, 11:22 AM #5
- Join Date
- Apr 2020
- Posts
- 127
Yes - Legend
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12-30-2020, 03:10 PM #6
- Join Date
- Jun 2017
- Posts
- 2,049
There are a few that will fund - I believe Merchant Cash Group will as well
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01-01-2021, 10:43 AM #7
- Join Date
- Aug 2020
- Location
- New York, NY
- Posts
- 123
Hey, it would depend when the merchant filed for personal BK, ClearFund constantly funds people in BK but it would always depend on lots of other factors including how long ago the BK happened.
Thanks.Underwriting Desk | ClearFund Solutions | New York, NY.
P: 855-543-2133 E: deals@clearfund.co W: www.clearfund.co
_____________________________
ClearFund is a Direct Funder
ISO inquires: partners@clearfund.co
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01-04-2021, 02:16 PM #8
- Join Date
- Dec 2020
- Posts
- 5
Who funds Mom and Pops deals? Are they the same company as Spartan?
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01-15-2021, 12:29 PM #9
- Join Date
- Jan 2021
- Posts
- 23
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01-15-2021, 03:51 PM #10203-705-8764
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01-18-2021, 11:39 AM #11
- Join Date
- Sep 2018
- Posts
- 60
Thanks for the mention! Yes in some scenarios we can provide funding to businesses even though the owner is in a Ch 13, or DIP funding to businesses in Ch 11.
We also do not have any minimum amount of time that would need to pass after a bankruptcy is discharged.
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01-18-2021, 12:48 PM #12
- Join Date
- Nov 2020
- Posts
- 66
Spartan Capital logo - small jpeg (002).jpg
Send me Your deals with statements
Spartan Capital funds up to 5 positions and we work with ALL INDUSTRIES
We work fast!
Matt Spinelli
ISO Manager
Spartan Capital
matt@spartancapitalgroup.com
201-907-4042
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