[fintechlooker]

These days I have noticed funders request more than 3 months of bank statements. For example, had one deal where Rapid Finance was offering $150K. But initially then UW requested 12 months bank statements and lowered the offer to about $30K. They are being quite risk averse these days, like many funders.


Anyhow to cut to chase, is there any funders left that are willing to base funding on 3 months, even on deals over $100K or $200K?

[Mark Goldberg]

These days I have noticed funders request more than 3 months of bank statements. For example, had one deal where Rapid Finance was offering $150K. But initially then UW requested 12 months bank statements and lowered the offer to about $30K. They are being quite risk averse these days, like many funders.


Anyhow to cut to chase, is there any funders left that are willing to base funding on 3 months, even on deals over $100K or $200K?

At Blade we still only require 3 months (Unless it is a seasonal business). Feel free to reach out.

[JulesJ]

Hi we base funding based off of 3 months of statements and most industries. Let me know if you have any questions.

[Jason Sterling]

We exclusively fund based on the credit card sales volume of the business.

Submission:
1.Signed application
2.Two most recent business bank statements
3.Credit card processing portal website, username and password OR most recent 6 months credit card processing statements

[ectorro]

Certain states are passing new laws that require 4 months of bank statements to underwrite now.

[fundingsmbs]

any funder who does plaid, d logic or any bank verification or manual BL will pull 12 months banks for review. initially many may take 3, but, on the backend, they are verifying many more months to make sure it isn't seasonal or dips in rev occur during payback periods. hopefully you didn't get a signed contract for $150K to only have to go back to say $30K. that sucks

[MCA-VET]

most deals Capybara makes speedy-offers with just 3 months banks stmnt. -- that includes our A Paper Box (Seems like we winning lots of A papers files these days -- unusual uptick...).

[Eminent]

Eminent still fund with only 3 months bank statements on most of our deals.
alex@eminentfunding.com

[Avi joe]

Yes,
we at Overnight Capital DO

Best,

Avi Joseph
Overnight Capital
(929) 205-8201
www.overnight-capital.com
avi@overnight-capital.com

[UptownFund]

We are giving hard offers on 3 statements.

We need 4 statements for the states that have changed their laws but the offer is still ready to fund.

[fundingsmbs]

These days I have noticed funders request more than 3 months of bank statements. For example, had one deal where Rapid Finance was offering $150K. But initially then UW requested 12 months bank statements and lowered the offer to about $30K. They are being quite risk averse these days, like many funders.


Anyhow to cut to chase, is there any funders left that are willing to base funding on 3 months, even on deals over $100K or $200K?

the buzz out there is that rapid took a huge hit on losses in 2022 on their deals. tightening up was a necessity. looking at revenue over a year isn't a bad thing if your trying to prevent bad debt. if your playing the volume game, vestor's are gonna get burned

[Chambo]

These days I have noticed funders request more than 3 months of bank statements. For example, had one deal where Rapid Finance was offering $150K. But initially then UW requested 12 months bank statements and lowered the offer to about $30K. They are being quite risk averse these days, like many funders.


Anyhow to cut to chase, is there any funders left that are willing to base funding on 3 months, even on deals over $100K or $200K?

They are asking for more, because states are making that a requirement. The states are cracking down

[GoldStandard]

If the volume is consistent does 1 statement really stop the close?

[fundfialex]

We are providing hard offers with 3 months bank statements - with the exception of California. (Requires 4 per law)