[The Chosen One]

Not going to waste my time arguing with two haters.

[diditevenfund]

That application does not exude much legitimacy.

[Olderguy]

So you are admitting fraud by claiming they are home improvement loans but can be used to pay off MCA's? How does that work? I can do Heloc on primary residences but need a 650 Fico.

For Home Equity Fast Access
Get (the following docs)

1.Last mortgage statement (if owned free and clear then a snapshot of the deed)
2.A recent (less than 7 days old) tri-merge credit report
3.A Zillow.com home value estimate (just a snapshot will do)

To go further (to make sure you are not wasting time):
1.Make sure the client only has one or no liens (no second mortgage)
2.Make sure the client’s name is on the mortgage or deed
3.Make sure the client has at least a 650 credit score across all 3 bureaus
4.Subtract the remaining balance on the mortgage from the Zillow estimate. If it is greater than 150K submit.

If everything does not line up do not submit. If it does line up submit via e-mail to: steveprobiz@gmail.com – put your company name and the client’s name in the subject line and attach all the docs (1-3).

On this file the owner will need a minimum 650 FICO
Success based consulting fee is 10%, which withdrawn the day after the client gets the HELOC and is able to transfer funds from their personal account to the business account (we pull our fee from business accounts only)
Max line will be $250,000
APR will likely be between 12.9% to 14.9% (only on funds used)
Funds are delivered on a bank credit card (Visais or Mastercard)
2.5% charge to transfer money from the card to the bank account

We need:

Owners DL front and back
The owner's last personal tax return
a copy of the last mortgage statement
a copy of the deed

[The Chosen One]

So you are admitting fraud by claiming they are home improvement loans but can be used to pay off MCA's? How does that work? I can do Heloc on primary residences but need a 650 Fico.

For Home Equity Fast Access
Get (the following docs)

1.Last mortgage statement (if owned free and clear then a snapshot of the deed)
2.A recent (less than 7 days old) tri-merge credit report
3.A Zillow.com home value estimate (just a snapshot will do)

To go further (to make sure you are not wasting time):
1.Make sure the client only has one or no liens (no second mortgage)
2.Make sure the client’s name is on the mortgage or deed
3.Make sure the client has at least a 650 credit score across all 3 bureaus
4.Subtract the remaining balance on the mortgage from the Zillow estimate. If it is greater than 150K submit.

If everything does not line up do not submit. If it does line up submit via e-mail to: steveprobiz@gmail.com – put your company name and the client’s name in the subject line and attach all the docs (1-3).

On this file the owner will need a minimum 650 FICO
Success based consulting fee is 10%, which withdrawn the day after the client gets the HELOC and is able to transfer funds from their personal account to the business account (we pull our fee from business accounts only)
Max line will be $250,000
APR will likely be between 12.9% to 14.9% (only on funds used)
Funds are delivered on a bank credit card (Visais or Mastercard)
2.5% charge to transfer money from the card to the bank account

We need:

Owners DL front and back
The owner's last personal tax return
a copy of the last mortgage statement
a copy of the deed

When did I say that they could be used to payoff MCA's?

[Olderguy]

"perfect for merchants with MCA's?" Implied funds used to pay off MCA debt.

[diditevenfund]

This stuff has to stop, seriously. People come on a public forum, put some absolutely ass looking application up capturing personal information etc.

This industry is so screwed, can't wait till the feds start absolutely slamming all these bozos.

[abfunders]

Steve, I'm not condescending by nature, but I am getting annoyed with you.

The OP stated that this is good for clients with MCAs but didn't say that they can use it to pay off the MCAs.
Let's look a little deeper. Look at the bottom of the jotform.
The "Liftoff Card" is a concept that someone will get funded in "tranches" which merchants will never take because who's to say that the next "tranche" will come? Is this designed for "flex" deals? If I'm wrong and funding is not in tranches and it goes to a prepaid debit card, they will be stacked to NO END because the next funders don't see a deposit, just a withdrawal to a debit card regularly, which means that the funder will lose their pants quickly as they get double-funded easily.

I believe a company called Aquila https://www.aquilacashflow.com/ used to do this, automated UW and everything. As you can see, they're no longer funding.

The card and home improvement loans may be nothing connected, but it doesn't give me much confidence that the Fintech lender is also brokering these things out through some other Fintech platform.

[diditevenfund]

Calls us haters and drops post, if this was legitimate you would stand firm vs run away.

Get back on the Press 1s

[abfunders]

This stuff has to stop, seriously. People come on a public forum, put some absolutely ass looking application up capturing personal information etc.

This industry is so screwed, can't wait till the feds start absolutely slamming all these bozos.

Anyone can put up an application as much as they want. Buyer beware if they should actually sign it. Just because it's not an official e-signature platform (although it does have one at the bottom), doesn't mean that it's illegal and the feds should go after them.

OP, how are you connected with Biscayne Capital Funding?

[Olderguy]

There is a company that does so called rehab loans on primary residences

You need rehab invoices for internal rehab to your home.

Replace windows, install HVAC, etc...

The invoices need to be confirmed by the lender.

Funds are then deposited into your personal account.

You get bills from the bank for each invoice and make several payments a month to the bank per invoice.

There is no UCC filed

You do not have to have the work done...you can use the funds for working capital for your business.


That's probably the program they are referring to.

It exists but it's kinda sketchy.