Results 1 to 14 of 14
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11-18-2014, 06:14 PM #1
- Join Date
- Nov 2014
- Posts
- 62
Information needed
Before moving forward to processing the merchant for the SMA Loan/MCA. Rather it's a small business loan or a MCA what are some information you ask and items/documents to get from the Merchant in order to get some clear numbers?
Just want to make sure when shopping or sending a file to one of yall companies. I get the necessary information just for numbers.
Cheers,
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11-18-2014, 07:09 PM #2
Ask for the following info. This will give you a snapshot of the business you are dealing with
-Last completed tax return
-Last 6 months of bank statements
-Last 4 months of merchant processing statements
Happy Hunting!Greg Baker
VP / Partner Relations
Capital Alliance Corporation
(408) 636-1555 I Direct
(888) 653-1181 I Fax
gbaker@capitalalliance.com
www.capitalalliance.com
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11-18-2014, 08:08 PM #3
- Join Date
- Nov 2014
- Location
- NYC
- Posts
- 25
I generally base it off the past four months of:
A) Bank Statements
B) Credit Card Process Statements
C) An application which is mainly used to disclose outstanding financing/tax issues.Casey Ignizio - Lead UnderwriterVox Funding
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11-18-2014, 09:55 PM #4
- Join Date
- Nov 2014
- Posts
- 62
Information needed
What if no credit card statement.
If they were a medical, chiropractors, dental and even small construction projects that receive funding by other means such as – cash, checks & insurance payments. Then what I do or even if they want a traditional loan? (That's 2 questions?)
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11-19-2014, 12:40 AM #5
As long as the revenue is going through their business bank account then their isn't an issue. Merchant processing statements are required for ACH loans especially when the business doesn't accept them.
Showing the benefits of a working capital loan is not difficult. Feel free to contact me and I would be more than happy to give you some options on overcoming objections regarding working capital.Greg Baker
VP / Partner Relations
Capital Alliance Corporation
(408) 636-1555 I Direct
(888) 653-1181 I Fax
gbaker@capitalalliance.com
www.capitalalliance.com
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11-19-2014, 08:11 AM #6
- Join Date
- Nov 2014
- Location
- NYC
- Posts
- 25
Casey Ignizio - Lead UnderwriterVox Funding
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11-19-2014, 09:52 AM #7
- Join Date
- Jul 2013
- Posts
- 352
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11-19-2014, 11:28 AM #8
If they are looking for a traditional funding option: three years of corporate tax returns, one year personal tax return for each owner, interim financials (P&L and balance sheet), a debt summary worksheet, and the addresses of any properties they are willing to pledge. That will allow you to take the deal to almost any bank, however to get paid from many of them you will need a commercial loan broker's license.
If they want working capital or can't qualify for traditional financing, request 6 months of banks and an app. Try submitting to On Deck and CAN Capital, they are great places with a fairly simple process.
If you get frustrated or you're unable to close a deal, please send it to Zach@CoreBusinessLoans.com for a commission split.Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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11-19-2014, 01:23 PM #9
- Join Date
- Jul 2014
- Posts
- 1,746
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11-19-2014, 01:44 PM #10
MR. Mcfadden
I do have a question. Do you work for an ISO? I ask because it is strange to me that these types of questions are asked daily.. I would hope the ISO or company you are working with could provide training for you
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11-19-2014, 01:57 PM #11
- Join Date
- Sep 2014
- Posts
- 430
If he is indeed real, and the being a broker thing doesn't work out for him, perhaps Sean can hire him to drive the Hot UCC Leads and Tacos truck.
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11-19-2014, 02:14 PM #12
Sean's Taco Truck doesn't have any openings.
We've have an opening for ours. We have the Hot UCC Leads figured out but we need an expert Taco guy and Sean's wants too many points to jump ship.3110 Main Street
Building C
Santa Monica, CA 90405
info@lendersmarketing.com
www.lendersmarketing.com
Direct (805) 765-6459
Toll-Free (888) 988-2867
Fax Number (818) 925-9686
We connect Lenders with their future clients
Check out how our Business Loan Triggers work:
http://www.lendersmarketing.com/busi...-triggers.html
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11-19-2014, 02:49 PM #13
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
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11-19-2014, 08:21 PM #14
Information needed
Typically 4 months bank statements, 4 months processing statements, along with the application. If no credit cards, then I would get 6 months bank statements and the application.
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