Results 1 to 8 of 8
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01-06-2016, 11:04 AM #1
- Join Date
- Nov 2015
- Location
- New York, NY
- Posts
- 8
What lenders are out there that don't care about the number of monthly deposits?
I have a merchant that has over 100,000+ ending monthly balance. They are seasonal and some months do no make any deposits. Which lenders are out there that would just focus on their month ending balance vs. deposits? Thanks
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01-06-2016, 11:18 AM #2
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
Ysc
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01-06-2016, 11:32 AM #3
WBL is very lenient on deposits especially with high ending balances. As long as client is willing to pledge real estate with some equity we would can take a look and maybe even structure a staggered debt schedule to accommodate the business cyclical nature. Thanks
Regards,
Matthew A. Stucchio
Associate
World Business Lenders, LLC
120 W. 45th St.
5th & 29th Floor
New York, NY 10036
Main: (212) 293-8200
Direct: (212) 220-6018
Fax: (646) 417-7161
Email: Mstucchio@wbl.com
www.WBL.com
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01-06-2016, 11:43 AM #4
- Join Date
- Jul 2014
- Posts
- 196
What lenders are out there that don't care about the number of monthly deposits?
How many months are they without deposits? With ending balances like that we can fund it. Please contact me for further assistance on this file.
Mike@SamsonPartnersLLC.com
347-492-1801
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01-06-2016, 12:42 PM #5
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
What lenders are out there that don't care about the number of monthly deposits?
Kevin, perhaps there's another financials vehicle that would work better for your client. What is their business?
Bob Shew
734-929-3800
rshaw@advancecredit.com
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01-06-2016, 02:38 PM #6
- Join Date
- Nov 2014
- Posts
- 438
LoanMe's minimum number of deposits is one(1).
Because we offer MONTHLY repayments on our term loans; when it comes to the business bank statements we simply look at gross business deposits (Volume) on the last 2 months statements. Daily/weekly repayment products have the need to look at number of deposits because of the frequency in which they pull their payments. LoanMe also does not look at the other typical MCA UW criteria's the same way.
Things like:
1.) Number of negative days
2.) Ending daily balance
3.) NSF's
4.) And of course # of deposits
Please contact us for more information to see if we can help your client.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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01-09-2016, 10:33 PM #7
I think you should try NATIONAL FUNDING from San Diego Ca
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01-10-2016, 07:39 AM #8
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Kevin,
While the posts above describe great alternatives, if your client has 100k balances and needs Capital for seasonal growth there are plenty of lenders that will write 3-10 year terms with interest rates from 6% given the commensurate financials.
Whether it's this deal or another feel free to touch base for assistance..
Richard 516 510 3855
www.businesscapitalconsultants.com
775 Park Avenue Suite 255
Huntington, NY 11743
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