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09-03-2015, 05:27 PM #1
- Join Date
- Nov 2014
- Posts
- 71
Cash Checking
I have an A paper Cash Checking deal. He does $10 million a month in deposits.
Which lenders are willing to do Cash Checking?
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09-03-2015, 05:32 PM #2
- Join Date
- Sep 2015
- Posts
- 2
..
Last edited by ShawnN; 09-04-2015 at 09:10 AM.
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09-04-2015, 10:29 AM #3
- Join Date
- Jul 2014
- Posts
- 1,746
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09-04-2015, 10:42 AM #4
- Join Date
- Oct 2014
- Posts
- 257
Cash Checking
Check cashing stores have notoriously low margins but this guy should be pulling 2-4 million net income depending on how large the checks he is cashing. Smaller has better margins and less regulations where as larger have more regulation and slimmer margins. This most likely doesn't fit my company's lending criteria but nice find!
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09-04-2015, 11:46 AM #5
- Join Date
- Nov 2014
- Posts
- 438
Cash Checking
LoanMe does not have any restricted business's types as long as they are a "For-Profit" business. We will take a look at this Check Cashing merchant.
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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09-04-2015, 12:18 PM #6
- Join Date
- Jun 2015
- Posts
- 3,325
Loan me can fund you 100k(not sure how much that will help ) . but the right way to go is to get full financials and address the concerns the lenders have with profit margin for those type of business . good luck and let me know if you want help we can split the commission .
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09-04-2015, 01:54 PM #7
Has $10 million a month in deposits? Great....what are the margins? Most check cashing places charge what? 1.5%-3% on the cashed checks? That $10 million just dropped to 150-300K a month. Still formidable for this industry, but hardly as eye popping as originally thouoght
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