Results 26 to 33 of 33
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12-23-2015, 10:29 AM #26
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
That as a great/informative response Dan!
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12-23-2015, 10:32 AM #27
- Join Date
- Jun 2013
- Posts
- 195
Thanks Michael, and sorry for this. We will try and resolve this as quickly as possible. Can you send me a private email (cpepe@wbl.com) with the name of a person and when they reached out so we can resolve internally?
Regards,
Chris Pepe
Vice President
World Business Lenders
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12-23-2015, 10:36 AM #28
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
consolidation scenario
Per Dan....the balance sheet is the think whereby we will catch the king.
Our jobs would be so much easier if ISO's and Brokers understood this.
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12-23-2015, 11:40 AM #29
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12-25-2015, 06:39 AM #30
- Join Date
- Apr 2014
- Posts
- 781
Credit score will be an issue ..and he's showing he needs money again. Doesn't seem promising
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12-25-2015, 09:17 AM #31
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
We may be able to help here, just would need to understand when charge off happened and what he charged off. We have no net requirement to merchant, no problem with 500 FICOs (depending on reason for FICO), fund up to 1.25x monthly deposits. If this is still open, email me at info below. If he has a consistent ~68K in monthly deposits and has been paying his previous advances, we should be able to consolidate and allow the merchant to net 25K.
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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12-25-2015, 09:28 AM #32
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
If they are sitting on 1.45x on four month terms and making payments, I'm sure they would need money again! The way we look at consolidations, credit score isn't a deterrent -- we look at whether they have been able to make high cost advance payments, and WHY the credit score is where it is -- if they are currently delinquent on their home and car, that's a problem. If they charged off cards a while back, no problem. Last week we did a consolidation of SEVEN positions for 100K, 550ish credit score, merchant netted nothing. We brought her daily payments from over $3K to $1.1K -- she had been regularly making her high cost payments, and we brought her to something way more reasonable. To us, that was a great deal that no one else in the space would touch.
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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01-04-2016, 11:28 AM #33
- Join Date
- Jan 2014
- Posts
- 283
I get the same thing...I rarely work with them but, it is, on occasion a good fit. Although I work with Chris P. I am constantly getting "Financial Analysts" from WBL trying to sign me up (Amway on steroids LMAO) and I always say I already work with them....one day I just asked "WTF do you keep contacting me for; don't you guys have some kind of CRM or anything showing Ownership of an ISO shop? Because if someone who worked with me was calling my ISOs I know I would be mad as hell." They just kind of danced around the subject
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