[TheGreek]

Hi,

I have a client who has been approved for MCA funding, but does not want to take them due to the daily/weekly payment structure. He is looking for monthly payments, may settle for bi-weekly if terms are right.

-Company exceeds $150k+ Monthly Revenue
-Owner's Fico 680 Experian
-Small Niche Travel Mom & Pop travel accomodation company
- Has MCA offers, but has no interest in them. Does not want SBA due to lengthy process
- Prefers monthly payments
- Seeking $300,000

Any input would be greatly appreciated.

[BR-Nightmare]

Hi,

I have a client who has been approved for MCA funding, but does not want to take them due to the daily/weekly payment structure. He is looking for monthly payments, may settle for bi-weekly if terms are right.

-Company exceeds $150k+ Monthly Revenue
-Owner's Fico 680 Experian
-Small Niche Travel Mom & Pop travel accomodation company
- Has MCA offers, but has no interest in them. Does not want SBA due to lengthy process
- Prefers monthly payments
- Seeking $300,000

Any input would be greatly appreciated.

You're better off with an SBA.

If the person is impatient about it, it may raise red flags.

[TheGreek]

Thanks. I'll keep that in mind and circle back with him.

[abfunders]

There's a reason why Loanme is out of business.
SBA Loan Bolt is fast, but the FICO needs to be 700+, and the business credit needs to be there. Being that they are a "small nice travel" company, is it possible that they have built business credit?
If that's the case, they need a relationship with their bank. The SBA is for sub-prime TBH.

Did you try Bluevine? Fundbox?
Is there real estate that they can pledge?
Try pitching the deal with an amazing prepayment benefit?

[Olderguy]

Channel Partners does monthly.

Access through Splash Advance if you don't have access.

Doesn't IOU also offer monthly?

[TheGreek]

Thank you. I haven't looked at IOU. Splash Advance offered daily payback and client declined it. I am not sure if they went through Channel Partners. I'll look into this as well.

[TheGreek]

He banks with Wells Fargo. Has major history there, but he really needs to get his ficos up. All of his cards are maxed out, so I told him he'd be better off paying them down to boost his scores, so that next month he could go to Wells Fargo. Bluevine doesn't lend in NV, and Fundbox caps out at 150k.

[abfunders]

Have the client use whatever funds he gets from the MCA etc to pay down the credit cards so that he can go back to his bank.

[closer129]

Hi,

I have a client who has been approved for MCA funding, but does not want to take them due to the daily/weekly payment structure. He is looking for monthly payments, may settle for bi-weekly if terms are right.

-Company exceeds $150k+ Monthly Revenue
-Owner's Fico 680 Experian
-Small Niche Travel Mom & Pop travel accomodation company
- Has MCA offers, but has no interest in them. Does not want SBA due to lengthy process
- Prefers monthly payments
- Seeking $300,000

Any input would be greatly appreciated.

I have a bi-monthly payment but it caps at 8 months and probably wont qualify for 300k if they are only doing around 150k or so a month. But our renewals on first positions work like a credit line in away where we do not refinance the balance on renewals we keep the payment the same and extend the term out longer and they use the new money will they are still paying off the old balance.

Scott Platto
scott@tmrnnow.com
tmrnow.com
212-220-9872

[Ehenek]

Stereotype!
Just because you know of 1 lender does not mean it is the definitive parameters of the SBA.
This is a very good file for the SBA if I could read the financials.

[speedmob]

MyAlphaloans.com can help with this matter. I have a great term loan that can go up to 500k. Lets talk please give me a call 754-246-0372 or you can email me to setup a time to talk. Email info@myalphaloans.com