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12-29-2023, 12:09 PM #1Senior Member
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Anyone doing defaulted deals where merchant is on modified plan but not paid in full?
Regardless of amount, etc, etc, just looking for lenders who can do these kinds of deals.
Thanks in advance.
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12-29-2023, 12:14 PM #2Senior Member
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yes
Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
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12-29-2023, 01:51 PM #3Senior Member
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The merchant started to default and is on a modified payment and cant afford to pay the full payment but yet he can afford to take out another payment. This is one of the reasons why this industry has gotten a bad reputation over the years.
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12-29-2023, 02:06 PM #4Senior Member
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A better solution would be to find ways to generate additional revenue, not increase the debt load.
Originally Posted by Quickfunder
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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12-29-2023, 02:10 PM #5Senior Member
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Assets to do ABL?
Equipment?
A/R
Purchase order financing
Factoring?
Personal loan from personal tax return if fico 700+
Take out cash from property if there's equity
Heloc on primary residence if 650 Fico?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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01-08-2024, 12:27 PM #6Member
Reputation points: 10
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- Nov 2023
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- 24
I can take a look at those deals. If the daily balances are strong and merchant has MCA history, send it over.
B-D paper from 2nd-7th position. Deals@pepgrp.com
Michael Kameo
ISO Relations,
Progressive Equity Partners
C. (718) 749-1241 | Deals@pepgrp.com
https://www.pepgrp.com/
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