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01-14-2016, 02:45 PM #1
NSF construction co
Throwing this out there. Anyone consider a construction company that has negative balances daily but the bank covers it.
200k a month and growing just the gap from pay they run a lot of nsfs basically most of the month..
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01-14-2016, 02:56 PM #2
I dont know anyone that would look at that. Your 1 chance would be if you had something from the bank stating that they cover the overdraft. Even then probably long shot but without that closer to impossible
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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01-14-2016, 02:56 PM #3
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- Jul 2014
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NSF construction co
If someone could do these deals I would be retired already.
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01-14-2016, 03:06 PM #4
- Join Date
- Jun 2015
- Posts
- 3,326
fund i hope your not serious . i fund them all the time with ........ loan me as long as it is a state they do
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01-14-2016, 03:48 PM #5
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- Nov 2014
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- 438
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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01-14-2016, 04:04 PM #6
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- Jul 2014
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Anyone can look at anything. It's the funding probability that I'm trying to get an answer on. I see these files all the time. Why would anyone loan money to someone who can't even get $1 positive in the operating account? Are they even technically still in business when the account is negative everyday? These are the real questions that need to be answered.
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01-14-2016, 03:16 PM #7
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- Jul 2014
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- 1,746
NSF construction co
Totally serious. Didn't know Loan Me would fund a guy with bad credit who's negative every day. If so, very cool, we will try them next time.
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01-14-2016, 03:20 PM #8
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- Jun 2015
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- 3,326
well plus 500
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01-14-2016, 03:28 PM #9
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- Oct 2013
- Location
- New York, NY
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- 1,203
If I know the bak is covering it and I can get verification of the limit of his OD protection etc. Im game. There are very few things I wont look at.
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01-14-2016, 03:36 PM #10
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01-14-2016, 03:39 PM #11
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- Oct 2013
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- New York, NY
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- 1,203
no not really, in the case of OD protection I look at it like this.
The guy had to do something to earn the OD and the bank hasn't pulled it or cut it down. If the deposits are there and he has just consistently run in the red then whom I to judge. Are companies like Amazon who lost money their first 7 years bad for running red? Maybe Im just the guy to bump this man into the black with his next project? Positive Vices (Side note: I made up that 7 year thing about Amazon, Im not sure how long they lsot money for but it was longer than 3 months of Bank statements)
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01-14-2016, 03:46 PM #12
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01-14-2016, 03:41 PM #13
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- Dec 2014
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- NYC/Florida
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- 86
How many advances do they have out?
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01-14-2016, 04:07 PM #14
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- Oct 2013
- Location
- New York, NY
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Like I said before if I can verify the availability of OD protection and can see a lot of cash coming through then its fundable.
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01-14-2016, 04:08 PM #15
NSF's and negative days are something that WBL can do with sufficient collateral. Can you ask him if he has any real estate collateral?
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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01-14-2016, 04:18 PM #16
thanks people. Not a loanme state. Checking on collateral . Almost everyday is negative tough deal
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01-14-2016, 04:21 PM #17Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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01-14-2016, 05:29 PM #18
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01-14-2016, 04:21 PM #19
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I'm sure that new daily payment is going to help them lol
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01-14-2016, 04:23 PM #20Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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01-14-2016, 04:25 PM #21
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- Sep 2014
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- 720
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01-14-2016, 04:26 PM #22Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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01-14-2016, 04:23 PM #23
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- Oct 2013
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- New York, NY
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- 1,203
depends....what does he do with the money. That will be the only way you can know.
To many examples to name but one that comes to mind was a Office furniture company. Guy could make 600% profit on the money I gave him so his banks would look reall ghreat for about 3 months after I gave him money and then they slowly die and then he'd come back.
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01-14-2016, 08:41 PM #24
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- Jul 2014
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I respect what you're saying, but running in the red on a balance sheet and in the red with a negative bank account balance are two very different scenarios. I don't know, I just throw so many of these guys in the trash. One yesterday that was pulling in 2 mil a year, but his average balance was -$12,500, with 20 negative days a month on average. Nothing I can do with a guy like that - or so I thought...
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01-14-2016, 04:38 PM #25
NSF construction co
When is LoanMe going to expand to lending in states where most of my clients are??? Any plans for expansion in all 50 states already......?
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