10 month + term Restaurant
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  1. #1

    10 month + term Restaurant

    Looking for a home for a restaurant deal:

    -640 fico
    -1st position
    -$100k+ monthly revenue,
    -need term 10 months+
    -only looking for $50k

  2. #2
    Senior Member Reputation points: 61
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    send it to credibly

  3. #3
    Senior Member Reputation points: 12696
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    This sounds like anyone could do so what is the catch. If daily balances are strong and in business for more than 18 months i can do up to 12 months.

    Scott Platto
    scott@tmrnow.com
    tmrnow.com
    212-220-9872

  4. #4
    Senior Member Reputation points: 227883
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    Get this done through a CC split. Better than a "10 months" option. Much more flexible than fixed payments that "may" need to be restructured if there's a downturn.

  5. #5
    Senior Member Reputation points: 99
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    Quote Originally Posted by KingCapBoom View Post
    Looking for a home for a restaurant deal:

    -640 fico
    -1st position
    -$100k+ monthly revenue,
    -need term 10 months+
    -only looking for $50k
    I can do this if balances and TIB are good..

    prepays starting at 1.09 if they want to payoff early. email for our guidelines.

  6. #6
    Senior Member Reputation points: 84417
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    Quote Originally Posted by KingCapBoom View Post
    Looking for a home for a restaurant deal:

    -640 fico
    -1st position
    -$100k+ monthly revenue,
    -need term 10 months+
    -only looking for $50k

    A true Credit Card split MCA has a flexible daily payment and does NOT have a Fixed Term ( since we are purchasing future receivables)
    We would have an anticipated "Turn" which could be shorter (that would be good us - since repayment is quicker) or longer - if cc receipts were down.

    Take the average amount of credit card volume for the past 4 months - and multiply 50% to 60% - that is the gross amount
    they may qualify for - Secondly, what is the usage of funds ? If they had $50K tomorrow, how would the funds be utilized?

    **No need to change processors - we would establish a Lock-Box (DDA)
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  7. #7
    Banned Reputation points: 4416
    Join Date
    Dec 2021
    Posts
    154

    Capitalize max term is 6 months. If it becomes relevant please send it over to charles@capitalizegroup.com

    For 10 months deals I can recommend Fintap and LG as solid clean funders.

  8. #8
    Member Reputation points: 10
    Join Date
    Oct 2021
    Location
    Brockton, MA
    Posts
    31

    UW Requirements/Answers to FAQ:
    • We like to fund deals that currently have an advance, so we can see payment
    history
    • Time in business: 6 months
    • FICO: Any (we do not care for credit score)
    • Ownership % for funding: 50%
    • Monthly gross deposits: $50,000
    • Average daily balance (if applicable): Any
    • Negative days/NSF: YES (Overdraft Protection)
    • Bankruptcies/Tax Liens/Judgments (what is your policy): YES
    • Minimum funding amount: $10,000
    • Maximum funding amount: $5,000,000
    • Do you require bank login, decision logic: Manual bank login on All deals
    • Minimum and max monthly terms:15-150 Days
    • Repayment options (Daily, Weekly, Monthly): Daily and weekly

    1. APPROVALS WITHIN 30 minutes
    2. FUNDING ALL DEALS SAME DAY
    3. Funding 2nd-7th position deals
    4. Funding up to $5M
    5. Reverse Consolidations
    6. White Labels
    7. Over 15 years of professionalism

    Apply here: https://www.cognitoforms.com/GoKapit...%2228822%22%7D

    Best Regards,

    Stanley Colimon
    CEO of: In Contact Market Inc.
    Phone781)510-1453
    Email: s.colimon@incontactmarket.com

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