Results 1 to 9 of 9
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08-03-2023, 08:10 PM #1
- Join Date
- Aug 2020
- Location
- 7125 Peri Lane Brooklyn Ny 11234
- Posts
- 113
3rd position credit card deal restaurant in long island
Looking for someone to go in 3rd position on credit cards. Restaurant has been in business since 2007. Averages 190k-215k a month and 80% of the business is credit card sales. He has two positions totaling about 95k.Pays a combined weekly of $3200. The only catch is his ending balances are very weak and he does have nsfs. Anyone would look at this?
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08-03-2023, 08:20 PM #2
- Join Date
- Oct 2022
- Posts
- 281
What his financials look like? I could look at an SBA.
Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
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08-04-2023, 12:00 PM #3
- Join Date
- Nov 2019
- Posts
- 676
The issue you are having to find a place is the fact that not many funders do cc splits anymore is one issue. The other is that the merchant already has 2 balances taking over 13k a month and has poor daily balances and probably bouncing the mca payments which shows he cant afford the ones he has. If he takes more funding even as a cc split it will put him more into a whole and the only people to benefit is the funder and the broker. he will have less money to pay his bills and cover the other 2 advances and put himself and the other funders in a bad spot.
If this was a first position i would be able to do a cc split on a business with poor balances if he cannot get any fundings and in a few months when he pays off the 2 advances i can take a look at it.
Scott Platto
scott@tmrnow.com
www.tmrnow.com
212-220-9872
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08-04-2023, 01:43 PM #4
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,952
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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08-04-2023, 03:48 PM #5
- Join Date
- Aug 2023
- Posts
- 4
My Alphaloans.com can help please click on our link and take a look at our site. We can help fund this client for you. My email is info@myalphaloans.com
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08-04-2023, 04:30 PM #6
- Join Date
- Aug 2020
- Location
- 7125 Peri Lane Brooklyn Ny 11234
- Posts
- 113
already got him approved thanks everyone
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08-14-2023, 08:14 AM #7
- Join Date
- Aug 2018
- Posts
- 795
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08-15-2023, 11:05 AM #8
Just FYI I've seen Itria do a lockbox in 3rd position in a similar situation.
I'll fund behind it if there's enough room.Uptown Iso Department
________________________________________
Office | 732.994.2550
iso@uptownfund.com | uptownfund.com
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09-03-2023, 01:47 PM #9
- Join Date
- Aug 2018
- Posts
- 795
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