[getitfunded]

I have a client that last year grossed $2,000,000 and this year has already grossed $4,000,000.

Been in business 2+ years, 700 credit, only problem is they have 12 NSFs

Looking for $150,000, WHO WANTS TO FUND IT?

[MikeC524]

Why the NSF's? Credit and revenue are excellent. Do they have other advances? I can get him 150k no problem just need to know why the NSF's so we can approve him at a good rate.




Mike@SamsonPartnersLLC.com
Office 347-492-1801
Cell 917-689-1502
Fax 718-304-1163

[Zach]

With real estate collateral, WBL can, in many cases, overlook negative factors that other funds might be forced to decline, such as:

1. NSF Activity
2. Sub-500 FICO
3. Low TIB or NO TIB
4. Client requires multiple months of no payments or a balloon payment structure
5. Client plans on acquiring a new business but does not have existing cashflow

We can likely provide this client 300-600K if he has the collateral. Feel free and reach me using the contact info below.

[getitfunded]

The client has never taken out a cash advance so this would be a first position (I know it's more rare than a unicorn) the NSF are not on the main account but the second one. He Opened a new account 4 months ago that he was transferring to from the main account .

[FUNd]

Yeah, what's the story with the NSF's if the guy is such gold balls?

[Chambo]

I have a client that last year grossed $2,000,000 and this year has already grossed $4,000,000.

Been in business 2+ years, 700 credit, only problem is they have 12 NSFs

Looking for $150,000, WHO WANTS TO FUND IT?

\What kind of business is it? The guy doubled his revenues, but is still bouncing payments?

Doesn't matter if the merchant $20,000,000 a month....if they spend $20,000,010, then there is no room in there for any extra payments

[MikeC524]

So why did he open a new account and why is that one just negative? How much is he depositing in the new account compared to the main one? Now is the new account getting deposits from income or is it just straight transfers?



Mike@SamsonPartnersLLC.com
Office 347-492-1801
Cell 917-689-1502
Fax 718-304-1163

[Jstarr]

bfs

[FUNd]

Lockbox is probably your only hope Obi Wan Kenobi.

[Chambo]

bfs

BFS won't touch this with all the NSF activity

[dpFund]

\What kind of business is it? The guy doubled his revenues, but is still bouncing payments?

Doesn't matter if the merchant $20,000,000 a month....if they spend $20,000,010, then there is no room in there for any extra payments

Agree with Chambo on this point. I consolidate a lot of clients with strong businesses. But at the same time see a lot of companies that have lots of deposits so also have lots of MCA loans, but they are losing boatloads of money, and not fundable.

[AndyYSCISOdept]

Couldn't have said it better myself. Evry day I get an ISO asking why when a guy is depositing 400K he only was approved for 25K. Simple response: Because that's what he can afford.

[FUNd]

Couldn't have said it better myself. Evry day I get an ISO asking why when a guy is depositing 400K he only was approved for 25K. Simple response: Because that's what he can afford.

Amazing people that own an ISO and train others have to ask that question.

[AndyYSCISOdept]

Amazing people that own an ISO and train others have to ask that question.

I mean please feel freee to let me know if I could respond in a better way, but at some point you have to assume that your detailed responses about the "net" and "profit margins" etc etc aren't sinking in.

[bdshaw]

Getitfunded might find more success by letting us know the company's business to see if a non- .ca product would work.

[Michael I]

profit margins and managing your accounts , do not always go hand in hand . I have seen business with great profit margins just really bad in transferring money in and out and making sure checks will be cleared .

[AndyYSCISOdept]

If a merchant can't keep the account running positive that would, in my opinion, point to a deeper issue of not fully understanding/ have the toos to run a business successfully. And that in turn would raise my "risk" flag really quickly.

[FUNd]

If a merchant can't keep the account running positive that would, in my opinion, point to a deeper issue of not fully understanding/ have the toos to run a business successfully. And that in turn would raise my "risk" flag really quickly.

Agreed. If you can't manage your money, you can't manage mine either, therefore, you aren't going to borrow any.

[Michael I]

If a merchant can't keep the account running positive that would, in my opinion, point to a deeper issue of not fully understanding/ have the toos to run a business successfully. And that in turn would raise my "risk" flag really quickly.

and here is a perfect example where some a lenders are easier to deal with then c-d lenders .

[FUNd]

^how so? Are you saying "A" lenders are more forgiving than lower tier lenders when it comes to NSF and negative activity?

[Michael I]

BFS won't touch this with all the NSF activity

come on chambo . what happened to chambo knows lol
bfs will mainly look at the main account and ignore the nsf on the transfer account . Unless the deals that i funded like that were over looked by uw . I highly doubt their uw misses anything

[Michael I]

^how so? Are you saying "A" lenders are more forgiving than lower tier lenders when it comes to NSF and negative activity?

if it is not the main account 100%

[FUNd]

How hard is it to have the accounts linked to each other to prevent overdrafts? This is modern accounting 101.

[AndyYSCISOdept]

and here is a perfect example where some a lenders are easier to deal with then c-d lenders .

Easier? As in they more easily decline a merchant with NSF's? Im just trying to understand what you are getting et?

[Michael I]

Easier? As in they more easily decline a merchant with NSF's? Im just trying to understand what you are getting et?

no easier to approve . they will underwrite main account and not care so much about the other account