Need a Funder or Vendor? START HERE

Results 1 to 21 of 21
  1. #1
    Senior Member Reputation points: 4367
    Join Date
    Sep 2015
    Posts
    122

    Ownership Change Deal

    Hi guys, I have a merchant who took over a gas station convenience store in November 2020 that was in operation since 1/2016. The entity was changed in November but nothing else in the business. The deposits going in are only from the convenience store and not gas proceeds.

    Merchant has done about $80k/month in deposits almost half of which is credit card revenue, is there anybody that can give us an offer that is decent (not a 3 month 1.49)? Balances are solid, no negative days. Please dm me if you can help, no brokers. Thank you
    Last edited by SCCNY; 02-11-2021 at 04:06 PM. Reason: added information

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

    Quote Originally Posted by SCCNY View Post
    Hi guys, I have a merchant who took over a gas station convenience store in November 2020 that was in operation since 1/2016. The entity was changed in November but nothing else in the business. The deposits going in are only from the convenience store and not gas proceeds.

    Merchant has done about $80k/month in deposits almost half of which is credit card revenue, is there anybody that can give us an offer that is decent (not a 3 month 1.49)? Balances are solid, no negative days. Please dm me if you can help, no brokers. Thank you

    This may a good case for a credit card split - but - since I'm a BROKER ??????
    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

  3. #3
    Senior Member Reputation points: 18402
    Join Date
    Apr 2014
    Posts
    781

    Another dumb post...covid brings out the idiots

  4. #4
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Quote Originally Posted by SCCNY View Post
    Hi guys, I have a merchant who took over a gas station convenience store in November 2020 that was in operation since 1/2016. The entity was changed in November but nothing else in the business. The deposits going in are only from the convenience store and not gas proceeds.

    Merchant has done about $80k/month in deposits almost half of which is credit card revenue, is there anybody that can give us an offer that is decent (not a 3 month 1.49)? Balances are solid, no negative days. Please dm me if you can help, no brokers. Thank you
    Just FYI, I wouldn't have responded if Golf didn't, but in order to add value and not just drop thoughts out of the wrong end of my body, these deals can get done if you can show that the merchant has prior experience in the industry, especially if the new owner is located locally is just expanding, especially if the new owner was an employee, especially if the old owner is still there in some roll.

  5. #5
    Senior Member Reputation points: 4367
    Join Date
    Sep 2015
    Posts
    122

    Quote Originally Posted by golf2014 View Post
    Another dumb post...covid brings out the idiots
    Bro what are you talking about I have offers up to $30,000, whats the harm in asking for assistance on a deal in the forum section that is meant for that.

  6. #6
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Quote Originally Posted by SCCNY View Post
    Bro what are you talking about I have offers up to $30,000, whats the harm in asking for assistance on a deal in the forum section that is meant for that.
    You have an solid offer of $30K and you have not closed the deal 5 days after your original post. Plus, you secured a funder that is willing to go outside the general TIB and your still shopping the deal. - Why?
    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

  7. #7
    Senior Member Reputation points: 4367
    Join Date
    Sep 2015
    Posts
    122

    I got the offer on Friday after I made the posting here. Why don't you worry about your deals and stop questioning what I am doing here.

  8. #8
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Quote Originally Posted by Yankeeman07 View Post
    You have an solid offer of $30K and you have not closed the deal 5 days after your original post. Plus, you secured a funder that is willing to go outside the general TIB and your still shopping the deal. - Why?
    More than likely because it's not a "solid" offer. It's an offer that he can't close and needs better. Dave, I'd recommend thinking that some of the brokers who post here are actually intelligent human beings and have some skill and know-how.

  9. #9
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Quote Originally Posted by SCCNY View Post
    I got the offer on Friday after I made the posting here. Why don't you worry about your deals and stop questioning what I am doing here.
    Or that.

  10. #10
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Lightbulb

    Quote Originally Posted by abfunders View Post
    More than likely because it's not a "solid" offer. It's an offer that he can't close and needs better. Dave, I'd recommend thinking that some of the brokers who post here are actually intelligent human beings and have some skill and know-how.

    Mean like yourself - yes, you are the smartest man in the room.
    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

  11. #11
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Quote Originally Posted by SCCNY View Post
    I got the offer on Friday after I made the posting here. Why don't you worry about your deals and stop questioning what I am doing here.
    Because it is a childish post - you are on a forum that is made up of mostly brokers - seeking help/advice, whatever term you want to use
    and make a statement _ No Brokers -

    Pick up the dang phone and call whomever you think is a Direct Funder within the MCA Space.

    The board has plenty of advertisers and has a Resource Directory - you may consider using the tools provided.
    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

  12. #12
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Quote Originally Posted by SCCNY View Post
    I got the offer on Friday after I made the posting here. Why don't you worry about your deals and stop questioning what I am doing here.
    Because it is a childish post - you are on a forum that is made up of mostly brokers - seeking help/advice, whatever term you want to use
    and make a statement _ No Brokers -

    Pick up the dang phone and call whomever you think is a Direct Funder within the MCA Space.

    The board has plenty of advertisers and has a Resource Directory - you may consider using the tools provided.

    https://dailyfunder.com/directory/
    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

  13. #13
    Senior Member Reputation points: 4367
    Join Date
    Sep 2015
    Posts
    122

    This is the deal bin where you ask questions about possible deals, if you don't have any positive input why don't you keep it to yourself. There are plenty of funders I have met using this forum. Why are you so offended that I said no brokers that is my preference and you are absolutely the last person I would want any help from.

  14. #14
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Quote Originally Posted by SCCNY View Post
    This is the deal bin where you ask questions about possible deals, if you don't have any positive input why don't you keep it to yourself. There are plenty of funders I have met using this forum. Why are you so offended that I said no brokers that is my preference and you are absolutely the last person I would want any help from.
    Since 99% on this forum are brokers - Do some research, many marketing names, but, actual Direct Funders in my research number less than 20
    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

  15. #15
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Quote Originally Posted by Yankeeman07 View Post
    Mean like yourself - yes, you are the smartest man in the room.
    That post of Dave's reminds me of this movie scene conveniently made into a meme....
    i know you are.jpg

  16. #16
    Senior Member Reputation points: 337045
    Join Date
    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    14 posts back and forth over a $30,000 deal...... Sometimes viewing this forum is like watching 2 seagulls fight over a french fry.......
    Hedley Lamarr......That's Hedley

  17. #17
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Quote Originally Posted by Yankeeman07 View Post
    Since 99% on this forum are brokers - Do some research, many marketing names, but, actual Direct Funders in my research number less than 20
    There are less than 20 direct funders? Really?

    I'm going to list more than 20 direct MCA funders in no particular order who are direct and are/were active on this forum
    IOU, Breakout, Rapid, CFG, Advantage, Cooper, RDM, TVT, Fundry (and their 20 affiliates), Elevate, Ace, Smart Business Funding, SOS, Vital, LCF, Velocity Group, LG Funding, Everest, Fox, ByzFunder, Blue Bridge, Fresh Funding, G&G, Forward, Legend, Quikstone... and why not throw in OnDeck just for fun?

    There are a dozen others who probably watch from the side.

    Dave, I don't understand why you're still here. You call people names and make a fool out of yourself simultaneously. If you have time to post, then follow your own advice and just pick up the phone and call leads. Personally, I like adding value, and I love gaining value out of constructive posts here, I can honestly say that I've learned so much from direct lenders and funders here. If it wasn't for my relationship (and closing of several deals) with one direct mortgage lender, I would not have closed the multimillion dollar hotel deal 13 months ago, and I wouldn't have even had it sent to me. Instead, we watch, listen, add value when we can, and hopefully don't get the grief sent back in your face.

  18. #18
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Has the deal been closed and the merchant funded - 6 days later
    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

  19. #19
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Lightbulb

    Quote Originally Posted by abfunders View Post
    There are less than 20 direct funders? Really?

    I'm going to list more than 20 direct MCA funders in no particular order who are direct and are/were active on this forum
    IOU, Breakout, Rapid, CFG, Advantage, Cooper, RDM, TVT, Fundry (and their 20 affiliates), Elevate, Ace, Smart Business Funding, SOS, Vital, LCF, Velocity Group, LG Funding, Everest, Fox, ByzFunder, Blue Bridge, Fresh Funding, G&G, Forward, Legend, Quikstone... and why not throw in OnDeck just for fun?

    There are a dozen others who probably watch from the side.

    Dave, I don't understand why you're still here. You call people names and make a fool out of yourself simultaneously. If you have time to post, then follow your own advice and just pick up the phone and call leads. Personally, I like adding value, and I love gaining value out of constructive posts here, I can honestly say that I've learned so much from direct lenders and funders here. If it wasn't for my relationship (and closing of several deals) with one direct mortgage lender, I would not have closed the multimillion dollar hotel deal 13 months ago, and I wouldn't have even had it sent to me. Instead, we watch, listen, add value when we can, and hopefully don't get the grief sent back in your face.
    When I see this wording on a web site - that informs me they work with other funding partners - and are NOT direct funders.
    They may service the account, but, that wording leaves me to the belief that they are NOT the funders.

    BTW - who asked you to add your no-sense to this post - ?

    *BANK PARTNERS FEATURED IN THESE SITES.
    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

  20. #20
    Senior Member Reputation points: 4367
    Join Date
    Sep 2015
    Posts
    122

    lol this guy Dave is insane antagonizing me over a simple deal question how this escalated at all is crazy you got problems man

  21. #21
    Did you end up getting this deal closed? I have a resource that can get this done by cob. Let me know. Thanks

Similar Threads

  1. contractor 500k monthly. Change ownership
    By brokerCompany in forum Deal Bin
    Replies: 1
    Last Post: 03-14-2019, 02:29 PM
  2. Replies: 3
    Last Post: 05-10-2018, 03:40 PM
  3. Replies: 5
    Last Post: 09-20-2016, 07:34 PM
  4. California deal with new ownership
    By Zach in forum Deal Bin
    Replies: 4
    Last Post: 06-10-2016, 11:56 AM
  5. 10% ownership deal
    By omegafund in forum Deal Bin
    Replies: 4
    Last Post: 10-16-2015, 11:40 AM


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

SubcontractorHub, Lendica partner
BoA launches business loan marketplace
Quickbooks adds new LOC product


DIRECTORY