Results 1 to 8 of 8
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12-27-2022, 12:07 PM #1
Reputation points: 54
- Join Date
- Mar 2017
- Posts
- 23
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
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12-27-2022, 12:14 PM #2
Reputation points: 61
- Join Date
- Nov 2022
- Location
- NYC
- Posts
- 117
send it to credibly
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12-27-2022, 12:24 PM #3
Reputation points: 12696
- Join Date
- Nov 2019
- Posts
- 685
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
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12-27-2022, 12:47 PM #4
Reputation points: 227883
- Join Date
- Feb 2017
- Posts
- 3,450
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.
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12-27-2022, 01:31 PM #5
Reputation points: 99
- Join Date
- Aug 2021
- Posts
- 120
Andrew@efinancialtree.com
eFinancial Tree
C: 815 260 0284 (Call or Text)
Submissions@efinancialtree.com
https://www.efinancialtree.com/
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12-27-2022, 02:47 PM #6
Reputation points: 84417
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,976
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
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12-27-2022, 02:47 PM #7
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.
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12-27-2022, 09:20 PM #8
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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