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08-03-2021, 12:18 PM #1
Reputation points: 10
- Join Date
- Jun 2021
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- 1
Ein only?
I have several businesses that want to use their EIN only and not personally guarantee the loans. I know these lenders, especially nowadays aren't wanting to do this. However, if you are, let me know! ( I generally stay away from these but have had a ridiculous influx of these recently)
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08-03-2021, 12:59 PM #2
Reputation points: 227883
- Join Date
- Feb 2017
- Posts
- 3,452
There are two questions here:
1) EIN only, meaning they don't want to provide their SSN
2) No PG
In essence, these are two separate questions. Not providing the SSN is going to be a problem because funders/lenders can't run background or credit to see if the personal behind the deal is a criminal. However, just providing the SSN itself doesn't meant that there will be a PG. Most MCA funders aren't putting a PG into the contracts. However, if you have a good relationship with the funder, you can have the client who doesn't want his credit run provide you with a credit report and submit it with the deal. Send me a PM with your email address, let me introduce you to a well-known group who can provide the 3-bureau credit report and FICO 8. What's great about them is that they provide me with monthly residuals on both my clients and your clients, so please do reach out to me so we both win[PS: It's also good if you see the credit STINKS that you can refer them to credit repair, and BOOM, you just have $7/month for each client for as long as they're involved with the credit repair... scale that up, and again, everyone wins]