Results 1 to 3 of 3
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07-13-2023, 09:31 PM #1
- Join Date
- Jun 2023
- Posts
- 7
What lender will fund an auto wrap shop $80k/m rev that counts zelle deposits as rev?
- NY based
- $80k a month in revenue
- TIB since 2013
- Looking for $80k but will take $40k minimum
- Need it to remodel his new location and get more inventory
- No positions
- Around 70 deposits a month but 95% are zelle payments
- 580 credit score
I submitted him to lenders such as velocity, torro, capybara, and they are all telling me low revenue because they dont count the zelle payments as revenue.
Another issue is that he received a fraudulent zelle payment without knowing so his zelle on his bank account was disabled. He made a new bank account in June and was able to get his zelle reactivated on that new account. He did around $32k in rev with the old account that got disabled and $60k in the new bank account in June.
What lenders do you guys recommend?
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07-13-2023, 10:30 PM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,993
It is NOT what the business owner wants, what do they qualify for.
New Bank Account in June - $60K and they want roughly 80% of monthly revenue.
Any real estate collateral?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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07-13-2023, 11:29 PM #3
Capitalize Funding maybe?
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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