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  1. 07-13-2023, 10:02 AM #1
    kelton37
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    Insurance agent

    I have a client that is looking to get an MCA loan for his insurance company. He is a franchisee of nationwide, but his FICO is the mid 500's. Can anyone do this type of loan?

    Thanks
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  2. 07-13-2023, 10:10 AM #2
    BR-Nightmare
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    Quote Originally Posted by kelton37 View Post
    I have a client that is looking to get an MCA loan for his insurance company. He is a franchisee of nationwide, but his FICO is the mid 500's. Can anyone do this type of loan?

    Thanks
    Remember,

    MCA is not a loan, its a purchase of future receivables. Keep the L word away.

    Until we meet again........
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based
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  3. 07-13-2023, 11:42 AM #3
    Kevin Henry-Seacoast
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    Quote Originally Posted by BR-Nightmare View Post
    Remember,

    MCA is not a loan, its a purchase of future receivables. Keep the L word away.

    Until we meet again........
    I really wish they would keep the dumb****ery to a minimum, but that will never work.......
    Kevin Henry
    VP-Business Development
    Seacoast Business Funding, a division of Seacoast Bank
    561-850-9346
    Kevin.Henry@SeacoastBF.com
    1880 N Congress Ave., Suite 404
    Boynton Beach, FL 33426
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  4. 07-13-2023, 11:56 AM #4
    Olderguy
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    Quote Originally Posted by Hedley Lamarr View Post
    I really wish they would keep the dumb****ery to a minimum, but that will never work.......
    It's a detachment lesson for you.

    I have lenders who can't spell in the LOI's.
    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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  5. 07-13-2023, 09:14 PM #5
    Yankeeman07
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    Quote Originally Posted by kelton37 View Post
    I have a client that is looking to get an MCA loan for his insurance company. He is a franchisee of nationwide, but his FICO is the mid 500's. Can anyone do this type of loan?

    Thanks
    He is the owner of the Nationwide Insurance Agency?

    Does he accept (process) his own credit cards, independent of Nationwide?

    IF so, then a credit card split may be a solution.

    You did not mention the amount of funding they owner is seeking?
    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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