[Fetachini]

I have a merchant who processes about 120k a month just in CC's, he's currently in the process of having his BK discharged. The merchant has been in business for over 20 years but nobody wants to fund it because of the BK. Anyone know a lender who would be willing to fund this merchant?

[MCNetwork]

If anyone would touch this, the offer would probably be a 3 month starter for 20K at 1.49.

[CO1]

Personal or business? Plus that 3 month starter deals I sent it to supposedly to 4 companies that love starters but they declined it and i might send it to c.s. now.

[Chambo]

Try Capital Stack.....but an open BK? Maybe try Rapid's decline program. they SAY they can do open BK, but I guess it is time to prove it

[Capital Stack]

Try Capital Stack.....but an open BK? Maybe try Rapid's decline program. they SAY they can do open BK, but I guess it is time to prove it

yes chambo, we might be an option for this deal depending on bk type and overall risk. Although i seem to recall we've funded some pretty out of the box deals with you.

[Fetachini]

Try Capital Stack.....but an open BK? Maybe try Rapid's decline program. they SAY they can do open BK, but I guess it is time to prove it

Rapid doesn't do bk, if you're talking about rapid advance that is.

[Chambo]

Rapid doesn't do bk, if you're talking about rapid advance that is.

Call and ask about their new decline program

[Finance1]

I have to assume this is a personal BK. A company would be insane to fund an open biz bk. I don't even think the biz can legally do it under bk laws either way.

Personal bk really only has one caveat. You can't really enforce a pg for the debt or the performance. We've done just a few in open 13 and our lawyer has a modified contract removing any language irt personal performance guaranty. Makes it a lot harder to chase somebody who dual processes or shuts you off completely.

Chapt 7's are only open for 3-4 months. If he's almost discharged then it's better to wait. If it's a 13 just see how many payments are left on the plan. The merchant would be better served getting a more traditional MCA than a decline/starter anyways.

[Shapour]

Regarding RapidAdvance's Decline Program...

No, we don't accept merchants who have an open bankruptcy. As long as the bankruptcy has been dismissed or discharged, it will qualify under our Decline Program.

[Fetachini]

The merchant will be discharged in a few days.

[Chambo]

The merchant will be discharged in a few days.

Give Rapid a try. Shapour is head of UW over there, so make sure he is CC'ed on the submission.

Welcome aboard Shap....ready to get you feet put to the fire?

[MCAVeteran]

try zoom funding. they are a new funder based out of hawaii that fund anything you send them. they are backed by $300M in VC capital from a firm called Yoda Enterprises. Pretty cool funder. *

[Sean Cash]

try zoom funding. they are a new funder based out of hawaii that fund anything you send them. they are backed by $300M in VC capital from a firm called Yoda Enterprises. Pretty cool funder. *

Zoom, Hawaii, Yoda...

Sounds almost unbelievable lol.

[MCNetwork]

At least they weren't called Jedi Funding lol!

[Chambo]

try zoom funding. they are a new funder based out of hawaii that fund anything you send them. they are backed by $300M in VC capital from a firm called Yoda Enterprises. Pretty cool funder. *

Fund many deals I will, yes! But BEWARE of the DARK SIDE!

[Fetachini]

try zoom funding. they are a new funder based out of hawaii that fund anything you send them. they are backed by $300M in VC capital from a firm called Yoda Enterprises. Pretty cool funder. *

Is the ceo's name Luke?

I don't know if you were being serious or not but the only zoom funding I found is located in Fl.

[HotRod]

Have you seen the financials and BK paperwork or is it all just a story from your merchant? If he's selling you on the business then you should just dump it.

[Fetachini]

Have you seen the financials and BK paperwork or is it all just a story from your merchant? If he's selling you on the business then you should just dump it.

Yes I've seen all the paperwork, I usually dump BK files soon as they come in but this is a different scenario.

[ISELLCASH]

There is money to be made off this deal once the BK is discharged. I have seen Business Backer do deals fresh off the discharge as well as Snap if they can make sense of it.