[Oxforddan]

Here's the scenario, I have merchant with a revenue north of 50 million a month a 520 credit score and looking for 1.5 to 2 million. The catch is there is client info on his bank statements that cannot be disclosed.
Any suggestions?
I have active contracts for over 750m and a p&l for the last 3 years.

[MCABroker]

Crickets...

[ridextreme]

fraud. next deal.

[jotucker1983]

Here's the scenario, I have merchant with a revenue north of 50 million a month a 520 credit score and looking for 1.5 to 2 million. The catch is there is client info on his bank statements that cannot be disclosed.
Any suggestions?
I have active contracts for over 750m and a p&l for the last 3 years.

Why is that?

[rick_clsfunding]

Contracts for three quarters of a billion dollars, but miraculously all he can provide is a Quickbooks PnL...come on

[FUNd]

Here's the scenario, I have merchant with a revenue north of 50 million a month a 520 credit score and looking for 1.5 to 2 million. The catch is there is client info on his bank statements that cannot be disclosed.
Any suggestions?
I have active contracts for over 750m and a p&l for the last 3 years.

50 million a month? Uh, yeah.

[bdshaw]

What is there business?

[bdshaw]

Sorry I did not read your entire post.
please send me an email at rshaw@advancecredit.com so zI can send you a broker agreement. I'd lile to see the financials.
Bob

[MaxAdvance]

Doing north of 50MM a month and can provide 3 years P&L-meaning he's been making a bit of money for some time now. Why is he coming to you for 1.5-2MM? Guy should have it in his back pocket. In addition his credit is disgraceful-as in the man is irresponsible and doesn't like to pay his bills. Be careful with him Dan.

[Oxforddan]

As always thank you everyone for your input. Yes I knew this was a fishy one from the start

[VFG]

Anyone can put together beautiful P&L & Balance sheets in excel. The question is: why is he not willing to show Bank Statements? The confidential information can be resolved with an NDA, but it appears to me that the income is/was never there. My 2 cents on this one: I would pass!

[MaxAdvance]

Anyone can put together beautiful P&L & Balance sheets in excel. The question is: why is he not willing to show Bank Statements? The confidential information can be resolved with an NDA, but it appears to me that the income is/was never there. My 2 cents on this one: I would pass!

Agreed, there's no denying the post's title alone tells all. Standard procedure and protocol in any industry require the basics. We all know some of these merchants fraud or not, like to feel entitled and just wanna play God. I'm like silly rabbit, we sell you, you can't try to sell us. We can't underwrite your P&L & Balance Sheets or future alleged 750M in contracts <-ha..to provide you with a loan amount that should be pennies to you. Have him send over his 1st born's birth certificate since he wants to play games, let him know it'll get him longer terms, maybe bi-monthly payments despite the 520 credit score. If you want pull credit and see if there's history of past loans, the file just seems to have one too many anomalies though. If I'm wrong Dan put me in my place and I'll buy your office lunch next week.

[bdshaw]

I ran into a similar situation many years ago and was able to arrange for the factoring of that company's accounts receivable. In that case they were justified in not giving us statements.
You are all probably correct about this request being a fraud but what if you are wrong.
I would like to see the deal and make up my mind myself.
Please forward what information you can.
Bob Shaw
734-929-3800
rshaw@advancecredit.com
rshaw@millenniumfundingusa.com

[Oxforddan]

Bob thank you I will call you tomorrow. To everyone else I will definitely pursue with caution and I will let you know what happens.