[brokerCompany]

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..

[J.Celifarco]

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

[FUNd]

If someone could do these deals I would be retired already.

[Michael I]

fund i hope your not serious . i fund them all the time with ........ loan me as long as it is a state they do

[FUNd]

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.

[Michael I]

well plus 500

[AndyYSCISOdept]

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.

[FUNd]

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.

Kind of like loaning money to his bank though isn't it?

[AndyYSCISOdept]

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)

[IKorie]

How many advances do they have out?

[FUNd]

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)

I see, is it really a reality that this type of file could actually fund tho? I mean, any lender I deal with will not even consider funding a negative account. I've lost tons of deals at funding for this exact reason.

[LoanMe]

fund i hope your not serious . i fund them all the time with ........ loan me as long as it is a state they do

Yes Michael, thank you. LoanMe can take a look at this.

[FUNd]

Yes Michael, thank you. LoanMe can take a look at this.

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.

[AndyYSCISOdept]

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.

[Zach]

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?

[brokerCompany]

thanks people. Not a loanme state. Checking on collateral . Almost everyday is negative tough deal

[Zach]

thanks people. Not a loanme state. Checking on collateral . Almost everyday is negative tough deal

I just funded a client with 26 NSF's per month. ;-)

[anonymous]

I'm sure that new daily payment is going to help them lol

[AndyYSCISOdept]

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.

[Zach]

I'm sure that new daily payment is going to help them lol

We lowered their daily payments by $2,000

[anonymous]

We lowered their daily payments by $2,000

Fair enough, lol.

[Zach]

Fair enough, lol.

I love that picture of Alec Baldwin's steak knives. Lmao

[Fundyman]

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......?

[FUNd]

I just funded a client with 26 NSF's per month. ;-)

When does the WBL CEO move into his newly acquired summer cottage?

[kzone711]

Sure, just did a similar deal where merchant was negative everyday for last 3 months.