Need a Funder or Vendor? START HERE

Results 1 to 12 of 12
  1. #1

    PAY OFF YOUR MCAS with a BANK LINE OF CREDIT - NY METRO AREA

    Bank revolving line of credits available !

    No credit check pre approval responses in 1 Day.

    Location: Available only in NY, NJ, CT and locations close to these states
    Loan Amounts: up to $150,000 from each bank (can be done with multiple banks)
    Loan Amounts qualification: 15% of annual revenues up to $150,000
    Rates: 4.25 - 5.75% Annual
    FICO requirement: 680+
    Can not have a loss greater than $100,000 in most recent filed tax year
    NO UCC filing

    Required documentation for pre approval
    1 year of most recent filed tax return
    Application
    ID from guarantor/owner

    Please contact us:
    Probant Capital
    212-439-4629
    www.ProbantCapital.com

  2. #2
    sounds very legit

  3. #3
    Senior Member Reputation points: 203054
    Join Date
    Jan 2014
    Posts
    1,361

    no credit check...fico requirement 680. ohhh ok

  4. #4
    Senior Member Reputation points: 24994
    Join Date
    Feb 2019
    Posts
    203

    Quote Originally Posted by ProbantCapital View Post
    Bank revolving line of credits available !

    No credit check pre approval responses in 1 Day.

    Location: Available only in NY, NJ, CT and locations close to these states
    Loan Amounts: up to $150,000 from each bank (can be done with multiple banks)
    Loan Amounts qualification: 15% of annual revenues up to $150,000
    Rates: 4.25 - 5.75% Annual
    FICO requirement: 680+
    Can not have a loss greater than $100,000 in most recent filed tax year
    NO UCC filing

    Required documentation for pre approval
    1 year of most recent filed tax return
    Application
    ID from guarantor/owner

    Please contact us:
    Probant Capital
    212-439-4629
    www.ProbantCapital.com
    No shot with half the things you said. Stacking MCA is 1 thing. Stacking banks is straight-up fraud unless each bank is taking a junior position behind the older position.

    No bank goes off % of annual revenue. It is all about debt servicing
    You are not going to get a single-digit bank loan without a UCC filed of some kind.

    No bank is touching a 100k loss unless the revenue growth is substantial and even then, the file will need to be spotless on every single other aspect & even then, it is a low success rate.

  5. #5
    Our Managing Director is a former business banker for 10+ years i can absolutely see everyone doubt in our process.
    We have been successfully doing this for 2 years and have can provide references with MCA lenders and brokers on our product.
    There is absolutely no fraud when the bank does not file a UCC.
    Is having multiple credit cards fraud? Its a similar concept except with bank lines of credits.

    Before completely shutting us out let's have a conversation.

    Please contact us:
    Probant Capital
    212-439-4629
    www.ProbantCapital.com

  6. #6
    Our Managing Director is a former business banker for 10+ years i can absolutely see everyone doubt in our process.
    We have been successfully doing this for 2 years and have can provide references with MCA lenders and brokers on our product.
    There is absolutely no fraud when the bank does not file a UCC.
    Is having multiple credit cards fraud? Its a similar concept except with bank lines of credits.

    Before completely shutting us out let's have a conversation.

    Please contact us:
    Probant Capital
    212-439-4629
    www.ProbantCapital.com
    Last edited by ProbantCapital; 05-10-2021 at 10:03 AM.

  7. #7
    Quote Originally Posted by Sachip24 View Post
    no credit check...fico requirement 680. ohhh ok
    No credit check for PRE APPROVAL.
    If client decides to proceed then we must run credit.

  8. #8
    Quote Originally Posted by mistamca View Post
    No shot with half the things you said. Stacking MCA is 1 thing. Stacking banks is straight-up fraud unless each bank is taking a junior position behind the older position.

    No bank goes off % of annual revenue. It is all about debt servicing
    You are not going to get a single-digit bank loan without a UCC filed of some kind.

    No bank is touching a 100k loss unless the revenue growth is substantial and even then, the file will need to be spotless on every single other aspect & even then, it is a low success rate.
    Our Managing Director is a former business banker for 10+ years i can absolutely see everyone doubt in our process.
    We have been successfully doing this for 2 years and have can provide references with MCA lenders and brokers on our product.
    There is absolutely no fraud when the bank does not file a UCC.
    Is having multiple credit cards fraud? Its a similar concept except with bank lines of credits.

    Before completely shutting us out let's have a conversation.

    Please contact us:
    Probant Capital
    212-439-4629
    www.ProbantCapital.com

  9. #9
    Senior Member Reputation points: 24994
    Join Date
    Feb 2019
    Posts
    203

    Quote Originally Posted by ProbantCapital View Post
    Our Managing Director is a former business banker for 10+ years i can absolutely see everyone doubt in our process.
    We have been successfully doing this for 2 years and have can provide references with MCA lenders and brokers on our product.
    There is absolutely no fraud when the bank does not file a UCC.
    Is having multiple credit cards fraud? Its a similar concept except with bank lines of credits.

    Before completely shutting us out let's have a conversation.

    Please contact us:
    Probant Capital
    212-439-4629
    www.ProbantCapital.com
    UCCs have nothing to do with fraud...
    Stacking CCs vs Bank LOCs are 2 completely different animals.

    If you stack anything but the client is able to meet obligations, then no harm, no foul. What happens when a default event occurs?

    CC stacking, they will take you to court depending on the amount. (CCs do not go after someone that defaults on 2k but they will on 25k)
    MCA stacking, they will be less likely to work with you & rather go through legal or they might not refi you

    Even if a UCC is not filed, you still need to disclose your entire debt schedule. If you stack LOCs, then you going to be lying when you sign the bank note. What happens when they review the file & do a document request after 12-18 months?

    At the rate you advertised, this must be a LIBOR(or prime)+point product & the commission is going to be 1-2 points that will need to be split since this is a co-brokering arrangement.

    Also bank preapprovals in 24 hours do not mean anything. This typically means that they will approve based on what is supplied to them & once they look at the file, it will not pass UW & then the close rate will be too low to justify the resources spent to earn 1% commission.

    The only way to earn more money & keep it kosher would be a packaging fee which should be paid at the close which I am sure you do.

    Bottomline: either this product is not as easy as you make it sound or there are a lot more fees built in that have not been disclosed.

  10. #10
    Quote Originally Posted by mistamca View Post
    UCCs have nothing to do with fraud...
    Stacking CCs vs Bank LOCs are 2 completely different animals.

    If you stack anything but the client is able to meet obligations, then no harm, no foul. What happens when a default event occurs?

    CC stacking, they will take you to court depending on the amount. (CCs do not go after someone that defaults on 2k but they will on 25k)
    MCA stacking, they will be less likely to work with you & rather go through legal or they might not refi you

    Even if a UCC is not filed, you still need to disclose your entire debt schedule. If you stack LOCs, then you going to be lying when you sign the bank note. What happens when they review the file & do a document request after 12-18 months?

    At the rate you advertised, this must be a LIBOR(or prime)+point product & the commission is going to be 1-2 points that will need to be split since this is a co-brokering arrangement.

    Also bank preapprovals in 24 hours do not mean anything. This typically means that they will approve based on what is supplied to them & once they look at the file, it will not pass UW & then the close rate will be too low to justify the resources spent to earn 1% commission.

    The only way to earn more money & keep it kosher would be a packaging fee which should be paid at the close which I am sure you do.

    Bottomline: either this product is not as easy as you make it sound or there are a lot more fees built in that have not been disclosed.
    All you are saying is absolutely true for how traditional lines of credits are underwritten and monitored.
    However, we have identified specific banks in our area, that have different underwriting and monitoring procedure for "low exposure" loan requests with good personal FICO.
    We disclose full debt schedule as part of the application, and they still approve it. We successfully done this for 2 years ourselves and have finally put the resources together to start expanding this and offer it to more clients.
    There is a one time fee of 10% that we charge at closing that is deducted from the new line of credit and we pay brokers 4% commissions.
    total cost to the borrower is significantly owner than any cash advance out there.

    Please contact us:
    Probant Capital
    212-439-4629
    www.ProbantCapital.com

  11. #11
    Senior Member Reputation points: 44858
    Join Date
    Apr 2019
    Posts
    319

    lmao $100 says this is that dude creative lender/ elgin/ pacific west/ fundova/ etc other names he creates every other week...

  12. #12
    Quote Originally Posted by fin4all View Post
    lmao $100 says this is that dude creative lender/ elgin/ pacific west/ fundova/ etc other names he creates every other week...
    I will take that bet!

    Look us up on linkedin, google, do background research on our Managing Director Juan Caban. It all will check out.

Similar Threads

  1. Bank lines of credits available in the ny metro area
    By ProbantCapital in forum All Other Lending
    Replies: 0
    Last Post: 05-07-2021, 10:46 AM
  2. Bank lines of credits available in the ny metro area
    By ProbantCapital in forum Business Loans
    Replies: 0
    Last Post: 05-07-2021, 10:44 AM
  3. NY, NJ, Connecticut Metro Area- ACTUAL BANK UNSECURED LINES OF CREDIT
    By RichardGerard in forum All Other Lending
    Replies: 6
    Last Post: 06-05-2019, 05:55 PM
  4. Head UW available in NY Metro area
    By ADiamond in forum Help Wanted
    Replies: 2
    Last Post: 03-09-2019, 08:34 AM
  5. Bank line of credit and zero balance bank account
    By bdshaw in forum Merchant Cash Advance
    Replies: 7
    Last Post: 07-09-2014, 01:10 PM


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