[MichaelP]

Does anybody have a funder they would recommend who doesn't consider credit? I've heard this boasted before, but not sure if it's a real thing. I want to know if there's anywhere I could/should be sending these files with healthy revenue and balances but terrible sub 550 credit. I don't want to hear from any funders directly just recommendations from brokers please.

[FCF Fund]

Elevate is the only one I know that doesnt.

[abfunders]

I funded a file with credit that low with Quikstone.
Elevate doesn't check credit, but they will check background, and often a 550 FICO comes with baggage.
Merchant Cash Group also doesn't check credit

All of these are first position only.

[PINNACLEADVANCE]

At Pinnacle we do not look at credit, i believe we have funded a deal with you already too.

[MichaelP]

At Pinnacle we do not look at credit, i believe we have funded a deal with you already too.

1. Read the post clearly next time. I specifically asked for recommendations from my broker brothers not funders. I even said please.
2. I don't like your guidelines, 40 day deals are fine for defaulters, but that's not what I'm looking for.

[goldenhippo80]

1. Read the post clearly next time. I specifically asked for recommendations from my broker brothers not funders. I even said please.
2. I don't like your guidelines, 40 day deals are fine for defaulters, but that's not what I'm looking for.

Chances are they defaulted on something if they have sub 550 credit. There's a reason credit is a factor in underwriting.

[MCA-VET]

Capybara Capital can fund deals with 525+..

[MichaelP]

Chances are they defaulted on something if they have sub 550 credit. There's a reason credit is a factor in underwriting.

Of course there's a reason that credit is a factor in underwriting. The purpose of this post was to see if there were any funders who don't consider credit because I've heard of people saying this.

Yes if they have sub 550 credit then the majority of people who have loaned them money regret it because there's a group of folks that didn't get paid back. I was speaking specifically to non MCA default deals with good balances good rev/cashflow and poor credit.

[MichaelP]

Capybara Capital can fund deals with 525+..

I even said please.

[goldenhippo80]

Of course there's a reason that credit is a factor in underwriting. The purpose of this post was to see if there were any funders who don't consider credit because I've heard of people saying this.

Yes if they have sub 550 credit then the majority of people who have loaned them money regret it because there's a group of folks that didn't get paid back. I was speaking specifically to non MCA default deals with good balances good rev/cashflow and poor credit.

If you have sub 550 credit, you're most likely late on mortgage, have high cc debt or missed payments. Why would a funder want to fund someone if they can't even keep thier personal finances in check?

[MichaelP]

If you have sub 550 credit, you're most likely late on mortgage, have high cc debt or missed payments. Why would a funder want to fund someone if they can't even keep thier personal finances in check?

I'm not sure why you're asking me that question. I agree that these type of credit challenges increase the risk of a deal really dramatically. I have heard of people not considering credit in the past and wanted to see what others experience with this was. It sounds like Micah has some experience and has been able to get some deals similar to this done in the past with the 3 funders that he mentioned. You would have to reach out to one of them and see why they fund deals like this.

[PINNACLEADVANCE]

1. Read the post clearly next time. I specifically asked for recommendations from my broker brothers not funders. I even said please.
2. I don't like your guidelines, 40 day deals are fine for defaulters, but that's not what I'm looking for.

1. You are looking for a funder that does not consider credit, I AM A FUNDER WHO DOES NOT CONSIDER CREDIT
2. If you send a default file you will recieve a default deal, if you send a good deal you will receive a good offer.

[MichaelP]

1. You are looking for a funder that does not consider credit, I AM A FUNDER WHO DOES NOT CONSIDER CREDIT
2. If you send a default file you will recieve a default deal, if you send a good deal you will receive a good offer.

I specifically asked for recommendations from other brokers for funders they like that don't consider credit. So you saying I AM A FUNDER in all caps is proving my point. I was unhappy with your underwriting guidelines on non-default deals. It is what it is, if your guidelines are working for you then that's all that matters. I'm not sending you anymore paper.

[kpeng]

I specifically asked for recommendations from other brokers for funders they like that don't consider credit. So you saying I AM A FUNDER in all caps is proving my point. I was unhappy with your underwriting guidelines on non-default deals. It is what it is, if your guidelines are working for you then that's all that matters. I'm not sending you anymore paper.

Pretty understandable to want referrals from other brokers that have first hand experiences. It's just hard to do that on this forum without a bunch of people spamming you to send files their way. All of us funders think we're the best at doing what we do. But brokers will decide that.

[MichaelP]

Pretty understandable to want referrals from other brokers that have first hand experiences. It's just hard to do that on this forum without a bunch of people spamming you to send files their way. All of us funders think we're the best at doing what we do. But brokers will decide that.

You're right, it is hard, but it shouldn't be. You found a way to interact with the post without soliciting for business. For me personally i'm 10x more likely to sign up with someone who does something like this over a longer period of time adding value or just interacting.

[brandon_]

Does anybody have a funder they would recommend who doesn't consider credit? I've heard this boasted before, but not sure if it's a real thing. I want to know if there's anywhere I could/should be sending these files with healthy revenue and balances but terrible sub 550 credit. I don't want to hear from any funders directly just recommendations from brokers please.

Elevate

[fundinggrasshopper]

East shore as well

[Jason Sterling]

We check credit but don't make our decision based on score. We have several merchants on the books and paying well with scores in the 400's.
We fund based on the credit card processing sales of the business.

Soft Offers:
Signed application
Two most recent business bank statements
Most recent 6 months of credit card processing statements (4 months if new business)