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  1. #1
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    Cool 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?

  2. #2
    Senior Member Reputation points: 7232 NationalCorporateData's Avatar
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    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.

  3. #3
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    Quote Originally Posted by Cheers2020* View Post
    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?

    Business Loan - any collateral ?
    Amount of Loan
    Industry?
    TIB?
    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

  4. #4
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    Thank you for the input; I will look into this.

  5. #5
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    Yes - Legend

  6. #6
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    There are a few that will fund - I believe Merchant Cash Group will as well

  7. #7
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    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

  8. #8
    Who funds Mom and Pops deals? Are they the same company as Spartan?

  9. #9
    Quote Originally Posted by DaveTrout View Post
    Who funds Mom and Pops deals? Are they the same company as Spartan?
    We fund them
    Adam Cohen
    Diverse Capital
    Direct Funders
    (646) 239 - 2887
    adam@diversecapitalllc.com

  10. #10

  11. #11
    Quote Originally Posted by NationalCorporateData View Post
    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.

    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.

  12. #12
    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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