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03-25-2024, 02:33 PM #1
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- Jul 2017
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No Personal Guarantee
Who does not require a personal guarantee or would make an exception on a deal by deal basis.
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03-25-2024, 03:06 PM #2
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- Nov 2019
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- 691
If a merchant upfront says they do not want a personal guarantee they usually have intent to default. Most funders guarantee's are as long as the business is open and operating they need to pay the money back. Even with out one we can still try to go after the merchant for our money but if the business is shut down and has no money we cannot collect. The best we will be able to do is put a judgement on the merchant and hopefully get paid at one point in the future.
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03-25-2024, 03:15 PM #3
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- Jul 2017
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Thank you for your opinion. I agree in some cases and some cases I disagree. Some merchants who have never taken a cash advance before are weary to have a personal guarantee and has nothing to do with planning on defaulting.
With that being said I am still looking for anyone who does not require a PG.
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03-25-2024, 03:22 PM #4
How would you even know that he's not planning on defaulting? Just because he didn't tell you?
If it's his first time taking out an advance just set him straight right off the bat and tell him "if I tell the underwriter you don't wanna sign a PG, he's gonna think you're not planning on paying back the money and it will kill the deal. You have 550 credit, there's no way around not signing personally for the money" instead of saying "yes, sir, I'll find a lender that doesn't require you to sign a PG".Last edited by ridextreme; 03-25-2024 at 03:26 PM.
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03-25-2024, 03:33 PM #5
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03-26-2024, 10:40 AM #6
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03-26-2024, 10:56 AM #7
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- May 2022
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- 91
If a merchant is "wary" of a funder including a PG as a way to protect themselves, since the funder takes on 100% of the risk, MCA may not be the right product for this merchant. Have you explained to him why PG is the norm on MCA contracts? Does the merchant understand what a PG is and why funders use it?
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03-26-2024, 11:20 AM #8
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- Feb 2017
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- 3,463
If MCA isn't the right product for him, what is? There are VERY little no-PG products out there. Factoring in many cases has a validity guarantee (which is basically only a PG in the case of fraud). Because an MCA isn't a loan, the PG on an MCA is structured differently than the standard PG.
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03-26-2024, 11:22 AM #9
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- May 2022
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03-26-2024, 02:21 PM #10
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- Jul 2017
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03-26-2024, 02:21 PM #11
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03-25-2024, 03:32 PM #12
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- Oct 2021
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Ive seen it done before with funders like UFS. But really has to do with the file and the story around it. Its 1 in a million.
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03-25-2024, 03:35 PM #13
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03-25-2024, 03:41 PM #14
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- Mar 2014
- Location
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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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03-25-2024, 06:10 PM #15
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- Jul 2017
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03-25-2024, 04:02 PM #16
We can do it for you on PAZ Credit Split program -
Daniel Gold
Paz Funding Source LLC
310-845-6112
Dan@PazFundingSource.com
[B]ALL submissions should be sent to Partners@PazFundingSource.com with CC to dan@PazFundingSource.com for quickest response.
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03-25-2024, 06:17 PM #17
my guy Tony can do it...reach out....
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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03-26-2024, 05:24 PM #18
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03-27-2024, 11:43 AM #19
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03-27-2024, 12:04 PM #20
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- Feb 2016
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03-27-2024, 12:54 PM #21
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- Jul 2017
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