View Poll Results: Which option would you choose?
- Voters
- 15. You may not vote on this poll
-
Average ledger that finds average across every single day of the month
4 26.67% -
Average ledger that finds average across only business days (no weekends, no holidays)
11 73.33%
Results 1 to 8 of 8
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04-12-2022, 10:28 AM #1
Reputation points: 40937
- Join Date
- Dec 2016
- Posts
- 379
OPINION: Average Ledger
Hey guys, just wanted to take a quick poll. Working with a software company right now that does bank statement review and was curious which option you would rather have when it comes to underwriting and making offers.
Option #1: Average ledger that finds average across every single day of the month.
Option #2: Average ledger that finds average across only business days (no weekends, no holidays).
-
04-12-2022, 01:41 PM #2
Reputation points: 13031
- Join Date
- Jun 2014
- Posts
- 541
#2 is a true average for the banking days you are trying to debit against.
Seems like #1 would overweight the Friday ledger within your average-
-
04-12-2022, 02:15 PM #3
Reputation points: 6544
- Join Date
- Dec 2018
- Location
- 48 Wall St. New York, NY 10005
- Posts
- 271
Option #2.
Jeff Pecori
Business Development & ISO Relations
VitalCap Fund | 48 Wall St. | New York, NY 10005
P. 850.630.7509 Ext.101 | F. 646.219.7949
jeff@vitalcapfund.com
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04-13-2022, 12:59 PM #4
Reputation points: 895
- Join Date
- Feb 2020
- Location
- Anaheim, CA
- Posts
- 85
If you're focusing purely on MCA then Option #2 makes the most sense given the relation to Daily/Weekly payments.
If you're focusing on MCA AND other options that offer a monthly payment then Option #1 makes better sense as you'd likely want the whole picture as opposed to calculations based solely on 21 business days only.Joel S Galasso
Senior National Accounts Manager
Small Business Loans
Main: 949-535-7798 | business.loans@loanme.com
1900 S. State College Blvd. Suite 300 Anaheim, CA 92806
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04-13-2022, 01:23 PM #5
I'm a bit confused....I signed up with decision logic and I loved it (easy for borrowers) but the lenders would NOT accept decision logic statements.
Last edited by Olderguy; 04-13-2022 at 01:45 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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04-13-2022, 08:13 PM #6
Reputation points: 40937
- Join Date
- Dec 2016
- Posts
- 379
It takes a considerable amount of time to sit there and manually add up numerous months worth of transactions from a DecisionLogic report. It's much more practical to have the official statement w/the total deposits listed, and then just subtract away the non-revenue. Official statements also often have average ledger which is very valuable as well. DecisionLogic would be more useful in this situation as a MTD instead of an entire new submission.
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04-13-2022, 08:46 PM #7
Last edited by Olderguy; 04-13-2022 at 09:46 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
-
04-14-2022, 09:24 AM #8
Reputation points: 40937
- Join Date
- Dec 2016
- Posts
- 379
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