Results 1 to 11 of 11
-
02-23-2023, 11:16 AM #1
- Join Date
- Mar 2021
- Posts
- 186
Anyone do a LOC with sub 600 Fico
Anyone do a LOC with a 580 fico?
TIA
-
02-23-2023, 11:18 AM #2
I can do hard money if they have any real estate that's NOO (non-owner occupied). Why do they need a LOC?
Tell them to try local credit union if they are a home owner.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.
-
02-23-2023, 11:26 AM #3
- Join Date
- Nov 2019
- Posts
- 677
If it is a first position my program works sort of like a line of credit. When the merchant renews at 50% paid in we do not refinance the balance we just exteding the term out the payment stays the same and when they finish the old balance months later then they start paying on the new money. I have merchant been with me for over 5 years and paid a total of around 33-39% over several years. Or if they take less than they qualify for they can take money more frequently by as either readjusting the payment or doing side by sides depending on the situation at the times of funding.
Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872
-
02-23-2023, 11:31 AM #4
- Join Date
- Mar 2021
- Posts
- 186
-
02-23-2023, 11:49 AM #5
- Join Date
- Nov 2019
- Posts
- 677
-
02-23-2023, 12:07 PM #6
- Join Date
- Jan 2019
- Posts
- 140
-
02-23-2023, 12:21 PM #7
I had a merchant tell me he was told he would get a LOC if he first established a rapport with a small 100K MCA which he took and paid off the next day, then the broker stopped answering his calls.
-
02-23-2023, 12:22 PM #8
- Join Date
- Nov 2019
- Posts
- 677
-
02-23-2023, 12:33 PM #9
-
02-23-2023, 12:43 PM #10
- Join Date
- Nov 2019
- Posts
- 677
-
02-23-2023, 12:49 PM #11
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 474
No one is going to approve an LOC for a 580 score. Anyone who says different is LYING straight up and down. Please don't get swindled in that BS lie these kids are peddling.
Similar Threads
-
Sub 500 Fico
By freeprocessing in forum Merchant Cash AdvanceReplies: 8Last Post: 12-19-2019, 01:32 PM -
Sub 500 Fico
By Eagle Funding in forum Merchant Cash AdvanceReplies: 34Last Post: 02-02-2018, 10:23 AM -
sub 500 fico
By shieldfunding in forum Deal BinReplies: 2Last Post: 06-13-2017, 05:23 PM -
No fico or below 500
By Wmateo in forum Deal BinReplies: 11Last Post: 06-28-2016, 03:10 PM -
Sub 500 fico - needs $$
By BW Capital Solutions in forum Deal BinReplies: 5Last Post: 01-26-2016, 10:04 AM