Results 1 to 5 of 5
Hybrid View
-
09-01-2015, 11:25 PM #1
- Join Date
- Sep 2015
- Posts
- 2
3 position consolidation
Searching for a direct lender, please brokers respect that request, that will consider a 3 position consolidation. I'm having a tough time with my current lender rolodex due to net 50/fico. Here is the scoop:
Contracting, time in business 3 years
Average deposits - $255K
Payback months 5 months average (914 - 1/15) deposits - $275K, I have those in hand
Average Balances - $3500
Positions - 3 total, balance $130K, taking $2475 daily between the 3 ($29K, $50K, $50K)
Fico - mid-high 400's (ouch!)
Not so much rate conscious as he is concerned with extending his terms and lowering his payments.
Sorry WBL - No collateral. Also as stated I am not looking to co-broker this.
Let's get it done, very motivated borrower stips will be no issue if the offer is right
-
09-02-2015, 11:11 AM #2
Haha, you already answered my question!
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
-
09-02-2015, 12:18 PM #3
wow...good luck with this one
-
09-03-2015, 11:07 AM #4
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
Deals like this take persuasion with lenders who wouldn't normally consider it, a broker is most likely your best bet.
-
09-06-2015, 11:32 AM #5
- Join Date
- Sep 2015
- Posts
- 41
KM, we may be able to do something. The deposits and balances seem fine. The credit score is what is going to give us pause. What does the rest of the history look like? With a 400+ credit score, I'm assuming there are liens and/or judgments and/or charge offs? Feel free to shoot me an email and we can take a look for you. My team tries to look at the big picture for each file. I've used this example a few times on this forum, but we just took someone out of 6 positions into 1 with us and he had a 500 credit score. So it can be done, but we will need to see. I'd be happy to look through it Tuesday.
Similar Threads
-
Looking For Either A Strong 5th Position or Consolidation
By Michael Jagiello BGF in forum Deal BinReplies: 9Last Post: 09-17-2018, 06:10 PM -
Consolidation??
By Increment1 in forum Deal BinReplies: 8Last Post: 08-11-2015, 02:35 PM -
Consolidation
By Mr.Network in forum Deal BinReplies: 4Last Post: 07-07-2015, 11:35 AM -
3 position consolidation...$500k in annual revenues and 530 credit
By mca123 in forum Deal BinReplies: 6Last Post: 12-30-2014, 03:13 PM -
Consolidation
By getlikwid247 in forum Merchant Cash AdvanceReplies: 4Last Post: 12-04-2014, 10:05 AM