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11-02-2015, 09:33 AM #1
- Join Date
- Aug 2015
- Posts
- 9
Auto shop needs 60k
I have a client that has two positions and is looking for 60k to buy out. He wants an ACH ONLY! He deposits on average 40-60k monthly and his AGR is $750k with NO NSFs, Tax leins, BKs, or major delinquencies.
Here is the the issue:
- He's been in business under 3 years
- 650 Fico
- Not much business credit
- Doesn't own a home
This client scored as an A in a few lenders underwriting department, however the business credit is what is causing them to take forever underwriting which makes me think they'll decline it.
If you can do anything with this deal shoot me a message.
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11-02-2015, 09:46 AM #2
This sounds doable. Do you know what the balances are that the merchant owes out?
Michael Jagiello
Director of Client Acquisitions
Blue Granite Funding LLC
mjagiello@bluegranitefunding.com
1(718)873-6407 Cell
1(917)791-8911 Fax
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11-02-2015, 10:06 AM #3
We can do that...email
submit@foxbusinessfunding.com
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11-02-2015, 01:40 PM #4
- Join Date
- Jun 2015
- Posts
- 3,326
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11-02-2015, 10:42 AM #5
- Join Date
- Apr 2014
- Posts
- 781
fOx nice first post ummm
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11-02-2015, 11:46 AM #6
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Hi,
This is a small file for us but doable based on what you have described. I fund a lot of MCA consolidations.
Twelve - Eighteen month term
Monthly payments (or weekly, client choice)
Early pre-pay with no penalties, fees or interest
Funding amount: $50k - $2M
No state restrictions
Any industry (except individual restauarants)
I can typically get payments down to about one third of what the client is paying.
Let me know if you are interested in discussing.
Best,
Dan Page
dan@fundingstrategypartners.com
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11-03-2015, 02:29 PM #7
- Join Date
- Aug 2015
- Posts
- 9
funded!
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11-03-2015, 02:35 PM #8
- Join Date
- Dec 2013
- Posts
- 4,713
always good to hear that!
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11-04-2015, 12:19 PM #9
Our secured business loan products may be a great fit granted that your client has a friend/family member/partner who is willing to pledge real estate to secure the loan (it doesn't need to be THEIR property); residential, commercial, and land are all acceptable. Time in business is perfectly fine, FICO looks good, ACH is an option, and based on the average deposits he absolutely qualifies for the $60k. It seems like the main obstacle would be for your client finding someone who's willing and able to pledge the real estate as collateral. If they can then this is definitely a scenario we'd like to learn more about. If you have any questions please don't hesitate contacting me directly at 201-210-8552 or paul@oracleloans.com . [/EMAIL]Last edited by pmoney; 02-08-2016 at 11:05 AM.
Paul Marzolla
CEO @ GreenBridge Loans
______________________________________________
Main: (800) 677-5771
Email: paul@greenbridgeloans.com
Connect with me on LinkedIn
Click to download our Partner Agreement
______________________________________________
GreenBridge Loans
221 River St, 9th Fl
Hoboken, NJ 07030
www.greenbridgeloans.com
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