Results 1 to 6 of 6
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07-15-2015, 12:14 PM #1
- Join Date
- Nov 2014
- Posts
- 76
Merchant with excessive negative days but overdraft protection in place
Looking at a deal here...Merchant depositing over $100k a month... coming off a credit card advance with lockbox and wants to get into a fixed daily payment loan or advance. Has multiple negative days but has verifiable overdraft protection in place with bank. Are there any lenders/funders that will do a daily ACH deal with excessive negative days given that there is overdraft protection in place?
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07-15-2015, 12:19 PM #2
- Join Date
- Apr 2015
- Location
- New York, NY
- Posts
- 31
Sent PM.
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07-15-2015, 12:39 PM #3
We consider overdraft protection in negative days.
mike@yalber.com
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07-15-2015, 03:49 PM #4
- Join Date
- Jun 2014
- Posts
- 541
Cooper's underwriting analytic tool is far more heavily weighted towards returned items than negative days. Ultimately, if the merchant is going negative but not causing items to be returned, everyone is still getting paid, despite the negative days! It's a fine line, but an important distinction-
Robert S Bloink
EVP of ISO Partnerships
Direct: 313-218-4663
Email: bb@cooperasset.com
Web: www.cooperasset.com
logo-01smaller.jpg
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07-16-2015, 01:37 PM #5
- Join Date
- Nov 2014
- Posts
- 438
LoanMe will take a look at this. Because we offer MONTHLY repayments to borrowers we do not look at the number of negative days, ending daily balance, NSF fees, Number of Deposits; the same way an MCA company would. Please contact us for more information.
LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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07-16-2015, 03:14 PM #6
- Join Date
- Dec 2013
- Posts
- 4,713
Cresthill has funded thousand plus files with excessive Negative days Submit (email below for ISO Signup) and you'll know in HOURS after your submission!! Double Digit Commissions!
bizdev@cresthillcapital.com
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