Results 1 to 6 of 6
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10-01-2022, 12:11 AM #1
- Join Date
- Aug 2020
- Location
- 7125 Peri Lane Brooklyn Ny 11234
- Posts
- 113
Two Futon Stores/Seperate tax id’s looking for 3rd on each
Have client who has two futon stores in NJ.
First store he owes two positions total of $120,000 and pays about $1800 a week combined. Does 35-45k a month, no nsfs, good ending balances.
Second store he owes two positions total of $130,000 and pays about $2000 a week combined. Does 35-45k a month, no nsfs, good ending balances.
Merchant has slightly above average credit in 680ish range. All fundings he received week in half ago.
He’s looking for third on each. He isn’t rate concious but it must be weekly payments like his others and at least 6 months minimum.
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10-01-2022, 10:35 AM #2
So why doesn't this merchant qualify for a term loan? Or maybe a hard money property loan?
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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10-03-2022, 10:40 AM #3
- Join Date
- Nov 2019
- Posts
- 691
The difference between 35 and 45k is a big cap to see if the merchant is over extended or not. If there is room based on the gross reserve or if can pay off one of the positions if it is under 30k and credit and daily balances are strong i might be able to do something as a second or third.
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10-03-2022, 01:57 PM #4
- Join Date
- Aug 2022
- Posts
- 28
We can fund a quick, weekly payment 3rd position, but it IS alarming that both positions on both companies were received recently. Also, with such quick funding in succession, we wouldn't be comfortable going out 6 months right away. If your merchant is interested in a 3-4 month weekly that pushes to 35% max holdback, we can take a look at it for you!
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10-03-2022, 02:49 PM #5
- Join Date
- Dec 2021
- Posts
- 638
Capybara Capital will fund what your describing with even weaker credit score .... ..perhaps will even go longer ?... In Short Capybara Capital funds NON-STOP 3'rds at longer terms with lower factors for maxx upsells. email: marcus@capybarausa.com
Marcus Clapman
Capybara Capital
marcus@capybarausa.com
www.capybarausa.com
646-708-5986 (Text Friendly!)
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10-04-2022, 02:36 PM #6
Try Supreme
Supreme Funding is strong on 3rd position deals. Give us a shout.
Email underwriting@supremefunding.netWe specialize in funding:
Deals w prior Defaults
"Over Leveraged" deals
All Positions (as long as there is space)
Low FICO scores
and all other "difficult" deals
To submit a file or to request an ISO Agreement, kindly email underwriting@supremefunding.net.
I look forward to hearing from you.
Rasheed Miller
(917) 933-3095 (text or call)
https://supremefunding.net/
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