Funding for Telecommunication Company with Online Only Bank
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  1. #1

    Funding for Telecommunication Company with Online Only Bank

    Hello,

    I have a merchant with 600 credit score, 1 1/2 years in business, $35K to $45K in revenue, and is looking for $15K loan (MCA?). Been turned because he uses an online only bank. The name of the bank is called Found, https://found.com. Please let me know if you can help.

    Thanks,
    Albert

  2. #2
    not what you want to hear.... but you may want to suggest the merchant to switch his main business deposits to a "traditional" bank and then transfer funds to the online bank... this way he doesn't have to move everything over (payments going out) and in a month or 2 he can get funded by most funders
    TMRNOW | A Total Merchant Resources Company
    Ariel Avalos – Iso Relations Manager
    377 Hoes Lane, Suite 240, Piscataway, NJ 08854
    Phone: 347-814-6152 | Email: Ariel@tmrnow.com | Web: www.tmrnow.com

  3. #3
    Got it. Thank you.

  4. #4
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    Quote Originally Posted by burtMCA View Post
    Hello,

    I have a merchant with 600 credit score, 1 1/2 years in business, $35K to $45K in revenue, and is looking for $15K loan (MCA?). Been turned because he uses an online only bank. The name of the bank is called Found, https://found.com. Please let me know if you can help.

    Thanks,
    Albert
    Credit Card Split funding may be an option - (Lockbox)
    How much revenue is generated via cc processing - Last 4 months average?
    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

  5. #5
    Unfortunately none. He is contracted by Spectrum to upgrade telecommunication equipment in his area.

  6. #6
    Capitalize fund an online bank. You can submit to subs@capitalizegroup.com and mention this thread.

  7. #7
    Quote Originally Posted by burtMCA View Post
    Hello,

    I have a merchant with 600 credit score, 1 1/2 years in business, $35K to $45K in revenue, and is looking for $15K loan (MCA?). Been turned because he uses an online only bank. The name of the bank is called Found, https://found.com. Please let me know if you can help.

    Thanks,
    Albert
    tim@c2advance.com ; deals@c2advance.com

    Actively seeking new brokers and broker shops to join our growing and reliable network
    Direct lenders providing offers in 30 mins
    100% ISO

    $50k-$500k
    12-15 points

    B-C paper
    Will fund prior defaults if satisfied and over a year old
    Accredited business with BBB

    HMU today @ 732-757-1832
    Tim Geltzeiler
    ISO Relations Manager

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