Results 1 to 11 of 11
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07-16-2024, 01:39 PM #1
- Join Date
- Sep 2023
- Posts
- 18
Who funds something like this?
Business in HVAC
3-3.5M annually in gross receipts
600 fico score
Has one position with a reputable lender. Merchant lowered payment over 6 months ago and the lender never asked them to go back on orig. payments. Payments were lowered due to a temporary hardship within the business. Their balance is now 16K. He's now trying to get a deal in the 75-100k range 8+ months and is having trouble finding one that doesn't get killed in final.
Any ideas on who might jump on this file?
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07-16-2024, 02:07 PM #2
- Join Date
- Dec 2023
- Location
- NJ
- Posts
- 44
once they put the payments back to normal for at least 2 weeks id be able to help here
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
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07-16-2024, 02:10 PM #3
- Join Date
- Aug 2021
- Posts
- 172
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07-16-2024, 02:21 PM #4
Any equipment we can do cash out on?
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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07-16-2024, 02:29 PM #5
- Join Date
- Jun 2024
- Posts
- 3
I can take a look at the file but I am not going out 8 months. My max term is 6 months
David Z
Star Capital Solutions
david@starcapitalsolutions.org
347-877-5932
Chief Executive Officer
14 Wall St
New York, NY 10005
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07-18-2024, 11:29 AM #6
- Join Date
- May 2022
- Posts
- 91
"Merchant lowered payment over 6 months ago and the lender never asked them to go back on orig. payments. Payments were lowered due to a temporary hardship within the business."
It's the merchant's responsibility to reach out to the funder to go back on normal payments, the same way he reached out to them to ask them to lower payments. Other funders are going to see that he is no longer in a "hardship" but has conveniently forgotten to let the lender know they can afford the original payments again. Why would a funder fund someone who is still on lower payments and not fulfilling their original contractual obligation just because they don't feel like it?
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07-18-2024, 11:45 AM #7
- Join Date
- Aug 2021
- Posts
- 172
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07-18-2024, 12:16 PM #8
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07-18-2024, 12:42 PM #9
- Join Date
- Feb 2016
- Posts
- 245
if he did it once, he'll do it again
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07-18-2024, 02:05 PM #10
- Join Date
- Jul 2024
- Posts
- 6
i might be able to help out
Sam Grossman
ISO Relations
C . 347-745-0783
O . 860-419-7905
Sam@raptoradvance.com
www.raptoradvance.com
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07-18-2024, 05:23 PM #11
- Join Date
- May 2022
- Posts
- 91
Barring your near-illegible post, your response doesn't negate anything I said in my post. I wasn't speaking about all these new "funders" (many of which are brokers posing as funders to the merchant), I was speaking about the established, quality funders you actually WANT your merchant to work with.
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