[JSL23]

I have a client that is seeking funding for a project, time is of the essence (isn't it always). I have funded him recently, but he still needs $300,000-$500,000 more. We do not want to do the whole stacking thing with another MCA company, so I am seeking something more along the lines of a Term Loan or Line of Credit(preferably interest only with monthly payments...open to weekly)

Revenue is good, $250,000-$275,000/month, credit score is over 730, clean history and bank statements. Need a Direct lender, sorry no Brokers on this one!

[LoanMe]

I have a client that is seeking funding for a project, time is of the essence (isn't it always). I have funded him recently, but he still needs $300,000-$500,000 more. We do not want to do the whole stacking thing with another MCA company, so I am seeking something more along the lines of a Term Loan or Line of Credit(preferably interest only with monthly payments...open to weekly)

Revenue is good, $250,000-$275,000/month, credit score is over 730, clean history and bank statements. Need a Direct lender, sorry no Brokers on this one!

LoanMe is a Direct Lender offering unsecure business loans with Monthly payments. Our loan sizes do max out at $100k.

Feel free to contact us if we can be of assistance for a portion of what your client is looking for.

[wallerbusiness]

Lately I have been submitting some deals with Loan Me and they have been getting declined. I have submitted deals and they have gotten approved in the past but the last 6 have been declined. Im trying to figure out what is going on. Most of my deals have credit in the mid 5's or higher and the volume is good. I just wish I knew what your underwriting is looking for so I can send the right type of clients. I spend all day out in the filed cold calling and knocking on doors I just want to see the fruit of my labor. I love Loan Me but lately I've been feeling a little rejected....

[LoanMe]

Lately I have been submitting some deals with Loan Me and they have been getting declined. I have submitted deals and they have gotten approved in the past but the last 6 have been declined. Im trying to figure out what is going on. Most of my deals have credit in the mid 5's or higher and the volume is good. I just wish I knew what your underwriting is looking for so I can send the right type of clients. I spend all day out in the filed cold calling and knocking on doors I just want to see the fruit of my labor. I love Loan Me but lately I've been feeling a little rejected....

JLS- Sorry for the unintentional hijack of your thread.

Waller- We definitely don't want you to feel rejected.

LoanMe's pre-approvals are heavily weighted on an internal scoring system. Being an unsecured loan with terms up to 15 years and FICO's as low as 500, we are sure anyone can appreciate the heavy reliance on our own internal scoring of borrowers.

From your comments above we wanted to point out a few things: LoanMe is not a "Turn Down" lender. You don't want to send us everything hovering around 500. Doing so could yield some of the recent results you have seen. While our minimum FICO requirement for a borrower is 500+; with just 50 points, internal scoring probably doesn't have a lot of room to find some good. Lets be honest- when looking at a borrower with a 500 FICO, there are some diamonds in the rough, but most are in the 500's for a reason.

We can tell you that borrowers with FICO's of 600+ have a 75% pre-approval rate with LoanMe.

We do sincerely appreciate your efforts in what you do, looking for new business. If you want to give us a call we would be more than happy to go through each of the declined files to see if there is anything we can do to help guide you to better results with us in the future.

[bdshaw]

Mike, call me and ill show you how to screen to increase your approval percentage.
We are ready to start the food truck financing.
Bob Shaw

[FUNd]

JLS- Sorry for the unintentional hijack of your thread.

Waller- We definitely don't want you to feel rejected.

LoanMe's pre-approvals are heavily weighted on an internal scoring system. Being an unsecured loan with terms up to 15 years and FICO's as low as 500, we are sure anyone can appreciate the heavy reliance on our own internal scoring of borrowers.

From your comments above we wanted to point out a few things: LoanMe is not a "Turn Down" lender. You don't want to send us everything hovering around 500. Doing so could yield some of the recent results you have seen. While our minimum FICO requirement for a borrower is 500+; with just 50 points, internal scoring probably doesn't have a lot of room to find some good. Lets be honest- when looking at a borrower with a 500 FICO, there are some diamonds in the rough, but most are in the 500's for a reason.

We can tell you that borrowers with FICO's of 600+ have a 75% pre-approval rate with LoanMe.

We do sincerely appreciate your efforts in what you do, looking for new business. If you want to give us a call we would be more than happy to go through each of the declined files to see if there is anything we can do to help guide you to better results with us in the future.

LoanMe has solid programs and Kristof over there is a professional.

[JSL23]

LOL, no problem. I've heard good things about LoanMe, and do plan on reaching out regardless, in this particular case $100K isn't even close, $250,000 is the minimum...

If you want to send me your info via PM, I'll make sure and contact you anyway; we have a few clients that may be a good fit for Loan Me's products.

[LoanMe]

LoanMe has solid programs and Kristof over there is a professional.

Thank you Dave.

[LoanMe]

LOL, no problem. I've heard good things about LoanMe, and do plan on reaching out regardless, in this particular case $100K isn't even close, $250,000 is the minimum...

If you want to send me your info via PM, I'll make sure and contact you anyway; we have a few clients that may be a good fit for Loan Me's products.

Understood. PM sent. We look forward to going over our product with you personally.

[Money2Fund]

I would be able to offer your client a 2nd position for $150,000 with a daily ach repayment. Email me back if your client would be interested in this position.
Brent Goggins