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  1. #1
    Member Reputation points: 895
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    Feb 2020
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    LOANME UW GUIDELINE CHANGE -- NO MORE "only 1 position in 90 days rule"!!!

    Good news: our internal campaigning paid off and we won the battle regarding the "no more than 1 position deposited in the past 90 days UW guideline."

    Effective immediately the UW guideline has been adjusted to no more than 1 position deposited in the past 30 days. No limit to existing positions beyond that, provided affordability exists. Yes, a renewal deposit is considered a position.

    If you're signed up with us let's get that pipeline a goin'! If you aren't signed up with us yet, E-mail business.loans@loanme.com and reference this post.

    Cheers!
    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

  2. #2
    Senior Member Reputation points: 23563
    Join Date
    Mar 2021
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    183

    This will make a ton of merchants eligible for your consolidation program … although the renewal counting as a position, does limit that.

  3. #3
    Member Reputation points: 895
    Join Date
    Feb 2020
    Location
    Anaheim, CA
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    85

    Quote Originally Posted by goatFunding View Post
    This will make a ton of merchants eligible for your consolidation program … although the renewal counting as a position, does limit that.
    Fair point but given the converse and how much it hampered our ability to Approve files, we're happy to have won at least this much of an adjustment to our guidelines.
    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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