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  1. #1

    Auto Care Deal

    I have an auto care place in Florida averaging about 25k in deposits, he owes around 20k to 2 funders and wants to consolidate and get on lower payments than what he's paying now.

    I know deposit volume is pretty low and SIC is high risk but are there any higher risk funders that would buy out his positions and put him on a weekly payment?

  2. #2
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    Buying out his current positions (which I'm assuming are on daily's) is one thing to ask for, but restricted industry, + really low rev for that industry, + buying out 2 positions and stretching the term i.e. lowering his payments, + switching from a daily debit to a weekly debit?!

    That's a lot to ask for

    With all that said you can send it to ClearFund and we'll take a look and see what we can do, no promises though.
    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

  3. #3
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    Quote Originally Posted by amfunding View Post
    I have an auto care place in Florida averaging about 25k in deposits, he owes around 20k to 2 funders and wants to consolidate and get on lower payments than what he's paying now.

    I know deposit volume is pretty low and SIC is high risk but are there any higher risk funders that would buy out his positions and put him on a weekly payment?
    Nobody. Dont waste your time. Try for a 3rd or a reverse if possible.

  4. #4
    Quote Originally Posted by freeprocessing View Post
    Nobody. Dont waste your time. Try for a 3rd or a reverse if possible.
    Who would do a reverse on a deal like this? Any suggestions?

  5. #5
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    Quote Originally Posted by amfunding View Post
    Who would do a reverse on a deal like this? Any suggestions?
    You can try, Premier, Silverline, GFE, Fundamental, QFS Capital, ML Factors, 24 Capital - also G&G funding.

    Keep in mind they all have diff underwriting guidelines pertaining to min monthly rev and their restricted industry's.
    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

  6. #6
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    Quote Originally Posted by amfunding View Post
    Who would do a reverse on a deal like this? Any suggestions?
    Try all reverse people. Clearfund named a bunch. Never worked with Silverline but everybody says they are great.

  7. #7
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    Quote Originally Posted by ClearFund View Post
    Buying out his current positions (which I'm assuming are on daily's) is one thing to ask for, but restricted industry, + really low rev for that industry, + buying out 2 positions and stretching the term i.e. lowering his payments, + switching from a daily debit to a weekly debit?!

    That's a lot to ask for

    With all that said you can send it to ClearFund and we'll take a look and see what we can do, no promises though.
    Auto Care is Restricted??? Are you sure you didnt see Auto Sales by mistake?

  8. #8
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    Quote Originally Posted by ryan $ View Post
    Auto Care is Restricted??? Are you sure you didnt see Auto Sales by mistake?
    Lol, that is probably what I saw/meant when I wrote that response.
    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

  9. #9
    Good Afternoon,

    For 24 Capital to do a reverse the merchant must have at least 3 current advances with over 50k in balance with 3 or more advances.

    Thank you ClearFund

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