Results 1 to 8 of 8
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02-18-2021, 11:20 AM #1
- Join Date
- Apr 2020
- Posts
- 17
Generally Speaking
Does anyone know of a funder that will fund a multiple of monthly revenue ?
Example: merchant grosses $20K/mo, will a funder fund $30K, with monthly repayment schedule?
Thanks.
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02-18-2021, 01:32 PM #2
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 476
No. You are asking the wrong question. I respect you for asking, but you need some real guidance on how this works.
Funders purchase a SMALL percentage of future receivables based on past deposits... because, well - they need the business owner to stay in business and be able to make payments.
So, if a merchant grosses 20k - who's to say what he actually keeps (profits)? 20%? So, 4k a month average balance in the account... looks a hell of a lot better than the guy who keeps 0 (or 10 nsfs) in his balance.
How's his personal credit? Ever defaulted? Have other positions? All of these questions determine what can be done...
What does he even want the money for?
Im answering in the true spirit of this forum, to HELP YOU... so if you want it, here it is.
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02-24-2021, 12:50 PM #3
- Join Date
- Mar 2016
- Posts
- 908
Thank you,
Lior Monus
Business Development Manager
CFG Merchant Solutions
Direct: (646) 880-6764
Cell: (516) 319-5826
Fax: (646) 278-7322
Lmonus@cfgms.com
180 Maiden Lane New York, NY 10038
www.cfgmerchantsolutions.com
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02-24-2021, 12:57 PM #4
With substantial equity in lien with a collateral or asset based product. That's about it, bc to circle back to what Steven said above, it is a purchase of future receivables, and the logistics won't add up any way you shape it otherwise.
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02-24-2021, 02:11 PM #5
- Join Date
- Jun 2017
- Posts
- 2,049
LoanMe does this.
Trying to figure out their formula is mind numbing.
Files that look great they decline, files that look like **** they approve for 200% monthly rev.
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02-24-2021, 03:29 PM #6
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03-15-2021, 07:33 PM #7
- Join Date
- Jan 2019
- Posts
- 117
well said. They do sometimes come through with
much higher than expected approvals.
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03-24-2021, 03:13 AM #8
- Join Date
- Jan 2019
- Posts
- 117
yes loanme all day. Quick and efficient. Higher approvals but lower commissions. Havent used them in a while but ask for jason chalarca. Very good.
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