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  1. #1
    Senior Member Reputation points: 690
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    Jan 2017
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    Recent Default / but SATISFIED -- does 230k/month - Steel Erection business

    Merchant does 230k/month in Steel Erection. Credit score in the 500s.

    "He had 196,000 with them and a balance of 60,000 left. They kept trying to ACH the bank account with no money. But it has been paid in full" - Merchant's accountant explanation to me.

    Anyway - the ask is under 100k. Will take 50k-100k

    Any funders, generally speaking, that will consider recent default if compensating factors are present?

  2. #2
    Senior Member Reputation points: 22304 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    621

    Try these guys:

    Infusion Capital
    United Fund USA
    Hybrid Advance
    Topline
    Adventure

    Some of you have ragged on me about including Hybrid.
    Kevin has been fine with me...

    But as in all instances in businesses, buyer beware....do your due diligence.
    Last edited by Olderguy; 08-06-2022 at 08:14 AM.
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

  3. #3
    I can help, feel free to reach out via text or email.

    Tatiana Luna ISO Rep.
    E: Tati@eagleeyeadvance.com
    C: (646) 632-5207

  4. #4
    Quote Originally Posted by CFSCCorp View Post
    Merchant does 230k/month in Steel Erection. Credit score in the 500s.

    "He had 196,000 with them and a balance of 60,000 left. They kept trying to ACH the bank account with no money. But it has been paid in full" - Merchant's accountant explanation to me.

    Anyway - the ask is under 100k. Will take 50k-100k

    Any funders, generally speaking, that will consider recent default if compensating factors are present?
    No way, Jose?

  5. #5
    Quote Originally Posted by CFSCCorp View Post
    Merchant does 230k/month in Steel Erection. Credit score in the 500s.

    "He had 196,000 with them and a balance of 60,000 left. They kept trying to ACH the bank account with no money. But it has been paid in full" - Merchant's accountant explanation to me.

    Anyway - the ask is under 100k. Will take 50k-100k

    Any funders, generally speaking, that will consider recent default if compensating factors are present?
    Try Epic Advance.
    they have done some deals for me that have satisfied df history.
    The story has to make sense. if they like it they will give it a shot with a starter offer. (not some 20 day flex deal)
    mark@epic-advance.com


    other option you have is to speak to your exisiting relationsships and explain the story and see if they will do it for ya.

  6. #6
    Senior Member Reputation points: 163863
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    Hey Steve, any reason why you're okay with Kevin @ Hybrid but you don't like Leon's company? They're run by the same boss.

  7. #7
    Senior Member Reputation points: 22304 Olderguy's Avatar
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    Sep 2021
    Location
    Irvine, CA
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    Quote Originally Posted by abfunders View Post
    Hey Steve, any reason why you're okay with Kevin @ Hybrid but you don't like Leon's company? They're run by the same boss.
    I've gotten good offers from Kevin. Soloman on the other hand not a good experience so far....Soloman was a referral from a colleague that I trust. Trying to close a deal with Soloman today as a first experience with a default cliented. So we'll see.

    And yes some of these shops have real newbies working there....and I've gotten some positive results with pushback to them on offers and deals.
    Last edited by Olderguy; Yesterday at 09:09 AM.
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

  8. #8
    Senior Member Reputation points: 163863
    Join Date
    Feb 2017
    Posts
    2,712

    Quote Originally Posted by Olderguy View Post
    I've gotten good offers from Kevin. Soloman on the other hand not a good experience so far....Soloman was a referral from a colleague that I trust. Trying to close a deal with Soloman today as a first experience with a default cliented. So we'll see.

    And yes some of these shops have real newbies working there....and I've gotten some positive results with pushback to them on offers and deals.
    Kevin is not the funder. Solomon is. Kevin is just in the front. Look at the court system, I'm not making anything up. Hybrid, MNS, Brickstone, World Global Fund.... they're all the same person's money, just with different faces.

  9. #9
    Member Reputation points: 10
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    Jul 2022
    Location
    NYC
    Posts
    17

    Give us a try a Infusion Capital we've done a lot of similar deals. Gary@infusioncapital.org

  10. #10
    Try us out Jett Capital we fund defaults and give high dollar amount.
    Andy@jettcap.com
    Andrew Peterson
    Iso Relations


    Subs@jettcap.com
    Cell: 315-512-5097

    https://jettcapfunding.com/

  11. #11
    updated Banner.gif

    Hello,
    I think we may be a fit for your satisfied default merchant. My contact info is below. Please feel free to reach out to get acquainted & discuss a deal.


    High Risk Program Specialty:
    - Large Deals
    - High Risk
    - B to D Paper
    - 1st to 12th position

    - Default Deals are entertained on a deal-by-deal basis
    (Satisfied judgments, payment plan, time of default, Reason Of Default & more)
    - Other Company Declines (Deals that are hard to get offers on)
    - Exceptionally Competitive With Dollar Amount

    Our Product
    10k to 3MM
    (For increase of funds, a deal-by-deal basis)
    -Terms up to 75 days
    (Flexible with large funding amounts)
    -Instant DocuSign contracts
    -All submissions are priced at 1.49 with brokers discretion to down sell

    Minimum monthly revenue - $50,000
    -Minimum monthly deposit count - 5
    -Average daily balances - $1,500.00
    -Time in business - 6 Months (12 months preferred)
    -All credit scores accepted
    -No credit checks (We focus on healthy ledgers and payments history)
    -Restricted Industries (Minimum monthly revenue - $100,000
    -Canada - Yes. (Must be a US bank account (Min Rev 150k)
    -Tax Liens - Must be on payment plan
    -Ownership 100% (All parties must sign)
    -We can only fund traditional bank accounts.
    (Not accepted banks E.g. PayPal, BlueVine, Square, Kabbage, etc.)



    Gill Navarro
    Director of ISO Relations
    Direct: 1(862)-303-3225
    Email: Gill@keycapitalfunding.com
    Website: https://keycapitalfunding.com/iso/

    updated Banner.gif

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