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  1. #1

    merchant requesting weekly ach

    currently have a merchant that was funded 30k last week with a weekly payment. Now they are requesting to want to pay it off and net 30-40k. merchant averages 80k monthly. seeking a direct lender that can do this or possibly provide a second position weekly offer.

  2. #2
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    No one is going to want to consolidate a deal that was issued last week. Majority have a 30-90 day seasoning requirement, better off going for a 2nd w/ weekly or a 2nd w/ daily at a rate they can't really argue with.

  3. #3
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by alibaba View Post
    currently have a merchant that was funded 30k last week with a weekly payment. Now they are requesting to want to pay it off and net 30-40k. merchant averages 80k monthly. seeking a direct lender that can do this or possibly provide a second position weekly offer.
    merchant wants to pay a 25-35% vig in one week? Send that deal my way & I'll personally syndicate on it!

  4. #4
    Veteran Reputation points: 134971 Chambo's Avatar
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    I was joking, BTW.....there is trouble there when a merchant wants to flip a deal a week after funding.

    Unless this is just a rep trying to squeeze out some more blood?

  5. #5
    lol good one. yea i explained this to the merchant. would you be able to help on a 2nd position weekly ?

  6. #6
    Senior Member Reputation points: 30475 Zach's Avatar
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    If the client has collateral, you know what to do... ;-)
    Zachary Ramirez – CEO
    Phone: 562-391-7099
    Email: zach@zacharyjosephramirez.com

    1661 N. Raymond Ave #265
    Anaheim CA 92801

  7. #7
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by alibaba View Post
    lol good one. yea i explained this to the merchant. would you be able to help on a 2nd position weekly ?
    Like was mentioned above. Not if they just took out money a week or two ago

  8. #8
    Quote Originally Posted by alibaba View Post
    currently have a merchant that was funded 30k last week with a weekly payment. Now they are requesting to want to pay it off and net 30-40k. merchant averages 80k monthly. seeking a direct lender that can do this or possibly provide a second position weekly offer.
    LoanMe can take a look at this. We are a direct lender (100% is funded in house). We take 2nd position an can offer borrowers up to 2x their gross monthly business income up to $100k. With the deposit number you mentioned above the borrower could be able to get an offer high enough, which would allow them to use our funds to pay their $30k (1st position) off on their own after our funding. We only offer MONTHLY payments not weekly. If this sounds like something that could work for you and your borrower give us a call.
    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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