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  1. #1
    Senior Member Reputation points: 17055
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    Export Company does $9MM/yr. Looking for Max Funds.

    I'm facing one of those situations where the merchant won't expose all the bank statements for privacy reasons, but shows $9MM average on tax returns.

    P&L's and balance sheet are consistent with gross income on the tax returns.

    Bank statements show average of $145K deposited each month.
    Beginning and ending balances stay around $600K each month.
    Average daily balance stays around $600K.

    FICO in the 600s.

    Looking for $1MM for operations, preferably term loan. It's not a typical cash advance deal because the interest rate doesn't appeal to him, nor does the terms. However, if it is possible to get him somewhere around $200K now, with 145K showing on the bank statements, he'll most likely do it. That will get him started.

    Any direct in-house lenders able to get this done or feel they can get it done with extra documentation, PM me or email: solidmerchantsolutions@yahoo.com
    Last edited by Fundyman; 07-28-2015 at 01:57 PM.

  2. #2
    Banned Reputation points: 4530
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    Ann Arbor, Michigan
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    Quote Originally Posted by Fundyman View Post
    I'm facing one of those situations where the merchant won't expose all the bank statements for privacy reasons, but shows $9MM average on tax returns.

    P&L's and balance sheet are consistent with gross income on the tax returns.

    Bank statements show average of $189 deposited each month.
    Beginning and ending balances stay around $600K each month.
    Average daily balance stays around $600K.

    FICO in the low 600s.

    Looking for $1MM for operations, preferably term loan. It's not a typical cash advance deal because the interest rate doesn't appeal to him, nor does the terms.

    Any direct in-house lenders able to get this done or feel they can get it done with extra documentation, PM me or email: solidmerchantsolutions@yahoo.com
    Depending on the quality of his collateral )A/R, Inventory and Equipment or real estate He may qualify for factoring at or around bank loan rates or an Asset based Loan (ABL.) Only one or two bank statements are required. What's the business?
    Bob Shaw
    734.929.3800
    rshaw@advancecredit.com

  3. #3
    I'm curious how you get $9M/yr in revenue with $189k in monthly deposits?

  4. #4
    Senior Member Reputation points: 17055
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    Quote Originally Posted by rick_clsfunding View Post
    I'm curious how you get $9M/yr in revenue with $189k in monthly deposits?
    Ans on the 1st line: "I'm facing one of those situations where the merchant won't expose all the bank statements for privacy reasons, but shows $9MM average on tax returns."

    He uses one set of bank statements for each aspect of the company: payroll, expenses, purchases, revenues, etc.. & has multiple entities with the main company as an umbrella. Unless we're dealing with fake tax returns, which wouldn't make sense, there is plenty of income. He just doesn't want to expose all his bank statements. No transfers into the account from other bank accounts.

  5. #5
    gotcha, thanks

  6. #6
    Senior Member Reputation points: 17055
    Join Date
    Dec 2013
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    Quote Originally Posted by bdshaw View Post
    Depending on the quality of his collateral )A/R, Inventory and Equipment or real estate He may qualify for factoring at or around bank loan rates or an Asset based Loan (ABL.) Only one or two bank statements are required. What's the business?
    Bob Shaw
    734.929.3800
    rshaw@advancecredit.com
    Exports grain overseas. Transporting business by ship.

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