Lower Revenue MCA Companies
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  1. 07-16-2021, 02:54 PM #1
    clawhorne
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    Lower Revenue MCA Companies

    Have a client that has about $3800-4k in revenue monthly now due to covid. Is a subcontractor doing drywall, installation, etc. Been in business for 10yrs. Requesting 7-10K. Can anyone recommend a lender that will work with a lower revenue client with low credit scores
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  2. 07-16-2021, 03:16 PM #2
    OC Funder
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    Quote Originally Posted by clawhorne View Post
    Have a client that has about $3800-4k in revenue monthly now due to covid. Is a subcontractor doing drywall, installation, etc. Been in business for 10yrs. Requesting 7-10K. Can anyone recommend a lender that will work with a lower revenue client with low credit scores
    By my math, at 20% remit and a generous 1.30 it would take this guy 228 payments to pay back an MCA for 7k. You mentioned poor credit as well, so I imagine your best case scenario is half that and probably less.
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  3. 07-16-2021, 06:37 PM #3
    Don Dolla
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    Quote Originally Posted by clawhorne View Post
    Have a client that has about $3800-4k in revenue monthly now due to covid. Is a subcontractor doing drywall, installation, etc. Been in business for 10yrs. Requesting 7-10K. Can anyone recommend a lender that will work with a lower revenue client with low credit scores
    MCG dont say i never helped anyone
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  4. 07-19-2021, 06:37 PM #4
    ADiamond
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    Quote Originally Posted by clawhorne View Post
    Have a client that has about $3800-4k in revenue monthly now due to covid. Is a subcontractor doing drywall, installation, etc. Been in business for 10yrs. Requesting 7-10K. Can anyone recommend a lender that will work with a lower revenue client with low credit scores
    Absolutely not.

    Send the guy to Amex for a credit card or something and don't waste your time.
    Anthony Diamond
    Underwriter
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  5. 07-20-2021, 09:13 AM #5
    kevin85k
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    Quote Originally Posted by OC Funder View Post
    By my math, at 20% remit and a generous 1.30 it would take this guy 228 payments to pay back an MCA for 7k. You mentioned poor credit as well, so I imagine your best case scenario is half that and probably less.
    a 1.30? No one is giving that guy a 1.30. it would be a 1.49 for 70 days. I'm not saying thats a good offer but its an offer.
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  6. 07-20-2021, 11:18 AM #6
    MadisonParker
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    Bitty lol
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  7. 07-20-2021, 11:29 AM #7
    SCCNY
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    Quote Originally Posted by clawhorne View Post
    Have a client that has about $3800-4k in revenue monthly now due to covid. Is a subcontractor doing drywall, installation, etc. Been in business for 10yrs. Requesting 7-10K. Can anyone recommend a lender that will work with a lower revenue client with low credit scores
    This guy is looking at a $2,000 1.49 over 60 days if he is lucky
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  8. 07-20-2021, 12:16 PM #8
    Esteban2000
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    You'd need a micro-funder, flip the guy $2500 and renew him every time he pays down, would act almost like an LOC
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