[Magicmike18]

Furniture store looking for 150k or more. No nsfs, negative days, owner has excellent credit and nothing outstanding. But will not take any deal with a PG or that requires taxes to be sent.

[Olderguy]

Are they making money on their tax returns? Do a non collateralized SBA 7A at SmartBiz. Takes a month. 10 years 7%.

[abfunders]

Steve, he said no PG.
What about a validity guarantee?

[Olderguy]

You're right - I read that wrong...

[Hedley Lamarr]

Steve, he said no PG.
What about a validity guarantee?

NOBODY is offering a VG to a retail furniture store unless they are very large and there are a ton of assets to over collateralize the loan. Unless they are an idiot of course........

[closer129]

If the merchant does not want any pg and to send tax returns only possible funding out there will be a high risk shorter term deal. All the funders i know of once the offer hits 6 figures want tax returns.

Over 12 years of experience in just this industry alone if the merchant is not looking to send information especially tax returns on that size of a deal and no type of pg then they are probably hiding something and will possibly default.

[Steven_O]

What does revenue look like... but I'd say Ondeck, Rapid Advance & Forward Finance would be my first round of submissions if this was my file.

[abfunders]

If the merchant does not want any pg and to send tax returns only possible funding out there will be a high risk shorter term deal. All the funders i know of once the offer hits 6 figures want tax returns.

Over 12 years of experience in just this industry alone if the merchant is not looking to send information especially tax returns on that size of a deal and no type of pg then they are probably hiding something and will possibly default.

Hold on a minute.... are you all saying that MCAs have to have PGs? Doesn't that kinda destroy the whole concept of an MCA and turn it into a real loan? OnDeck and Bluevine for example have PGs, they're a rent-a-bank models. IOU has one for sure, they don't need tax returns, but they have a PG.

Sorry Hedley, what I meant instead of VG was a Performance Guarantee.

[Hedley Lamarr]

Hold on a minute.... are you all saying that MCAs have to have PGs? Doesn't that kinda destroy the whole concept of an MCA and turn it into a real loan? OnDeck and Bluevine for example have PGs, they're a rent-a-bank models. IOU has one for sure, they don't need tax returns, but they have a PG.

Sorry Hedley, what I meant instead of VG was a Performance Guarantee.

Call it performance, validity, or personal....... Why in the world would any lender/funder with a brain offer a 150K loan without any form of guarantee for a business this small. Larger deals for more sophisticated companies yes. This business owner want something small with no rules.....NO Thanks.

[Olderguy]

If the client doesn't want a MCA loan, then look into a personal loan and Micah can do that through The Funding Group. You can get up to your gross annual income from a W-2 or 1099 It's 3 - 5 Years 8% and up, monthly payment and there is no personal guarantee...it's a signature loan. If there is more than one owner, each owner can get a personal loan.

I do these for cannabis business owners as the rate and terms are much better than cannabis MCA's.

[abfunders]

Steve, again, remember.... no PG. Personal loans automatically come with a PG.

[Olderguy]

Steve, again, remember.... no PG. Personal loans automatically come with a PG.

I checked with them earlier and they told me no PG just signature..

Jean L. Vann
Manager
The Funding Group
904-559-1791

[closer129]

It is a pg as long as the business is open and operating for most companies. Even if they sign one or not and they default funders will still try to go after there money.

[abfunders]

I checked with them earlier and they told me no PG just signature...maybe the person I spoke with has it wrong.

Who in their right mind would lend money without a PG as a personal loan?

[Olderguy]

A signature loan is a unsecured personal loan. Think on it....they can't attach any of your assets with a personal loan as it's isn't a PG.

[abfunders]

Steve, I spoke with Sean. All personal loans require both a PG and income verification, which includes tax returns and W2/1099's. Rarely will you get it done on W2's alone, but OP also said no tax returns.

But Magicmike18, I just realized that there is one program. It's not cheap, but it has no tax returns and no PG.

[Olderguy]

Interesting because Jean said no PG....LOL

[abfunders]

Interesting because Jean said no PG....LOL

Steve, email Jean to clarify. You misunderstood.
Sorry guys about this public thing, but OP, please email me I have an idea.

[Jason Sterling]

Contact me if they are open to a credit card split deal.
I can get by without a tax return but will need year to date profit and loss statement with balance sheet OR POS system total year to date sales report.
They would only be guaranteeing the performance of the businesses credit card sales.

[omegafund]

Iou

[Magicmike18]

Hes not hiding anything I have all the taxes hes just showing losses and doesn’t want to provide that since he isnt going for any sort of actual business loan and is looking for mca maybe max 12 months. Also he doesnt want personal gurantee because he isn’t in the best health.