[prosperity]

Here's another way of looking at this scenario:

Develop a relationship with a business banker of your local community bank. Tell him what you can provide to companies who fall outside their lending criteria, tell him you have a prospect and arrange a meeting with the prospect and banker.

The banker will eventually turn down the business and you may lose the deal given the lapse of time, but in the end you may win a referral relationship with the banker.

Worth a shot, given the client has false expectations

Dope answer! You get an upvote!

[vinny78]

hi

[JasonP]

Lmao

I see you posted at midnight that goes to show that you might be suffering from E.D and you vent out your frustrations on forums . By the way I am not a broker.

[AndyYSCISOdept]

I see you posted at midnight that goes to show that you might be suffering from E.D and you vent out your frustrations on forums . By the way I am not a broker.

Or that he is on the west coast, but you're right ED is probably more likely....Noob. leave FUNd alone because he is our resident comedian!

[FUNd]

I see you posted at midnight that goes to show that you might be suffering from E.D and you vent out your frustrations on forums . By the way I am not a broker.

You're right Andy, this guy made me almost spit out my coffee laughing this morning.

Jason, you're right, you're not a broker. You're not even employed.

[AndyYSCISOdept]

If I was to wave a white flag in my office right now can we just admit that this conversation/thread should be done?

[FUNd]

If I was to wave a white flag in my office right now can we just admit that this conversation/thread should be done?

Ok Andy. I have to go pick up my Viagra anyway.

[nrh1lp]

-grabs popcorn-

[jotucker1983]

If a merchant is depositing 60k a month can they get 250k in total financing . If anyone can help in this it would be great. Merchants fico is 780. This can include startup credit line also.

1. The merchant does not own the real estate .
2. There is no other collateral to pledge .
3. They have no outstanding balance with anyone first time in the MCA market.
4. Just started the business.

IF anyone can come up with any idea or with creative financing tricks please let me know.

PLEASE NO WISE CRACKS OR SMART ANSWERS IF YOU DON'T HAVE A SOLUTION PLEASE DON'T COMMENT. I AM SURE YOUR TIME IS PRECIOUS.

Jason,

The truth is that you are going to have to manage your merchant's expectations based on your level of knowledge of the industry. It's one thing for the merchant to make a specific dollar amount request, but if his profile doesn't qualify him for said request, then it's your job to inform him of what he does qualify for and explain how the process works. At that point, either the merchant can accept what he qualifies for or walk away from the table.

- A traditional bank will not approve him for a loan as you said he lacks any type of collateral and he's a start-up, which I assume means he's been operating for less than 6 months, is that correct? He probably can apply for a personal loan and/or make credit line increase requests.

- On the alternative side there might be a couple starter merchant cash advances that he could take, but he will not get anywhere close to $250,000. I would say that he might get about $20,000 if he's less than 6 months in business.

- Are you sure he has no collateral at all? No pre-owned real estate, equipment, luxury cars, antiques, arts, commercial accounts receivables, jewelry, or gold? If he has any of the tangible items, then he could qualify for a low tier asset-based loan program where they would do a short term deal with an approval amount of a particular percentage of the LTV of said items. Or, with the receivables, he could do some A/R factoring.

But that's pretty much it. Take this information back to your merchant to "educate" him on the process at hand.

[JasonP]

Jason,

The truth is that you are going to have to manage your merchant's expectations based on your level of knowledge of the industry. It's one thing for the merchant to make a specific dollar amount request, but if his profile doesn't qualify him for said request, then it's your job to inform him of what he does qualify for and explain how the process works. At that point, either the merchant can accept what he qualifies for or walk away from the table.

- A traditional bank will not approve him for a loan as you said he lacks any type of collateral and he's a start-up, which I assume means he's been operating for less than 6 months, is that correct? He probably can apply for a personal loan and/or make credit line increase requests.

- On the alternative side there might be a couple starter merchant cash advances that he could take, but he will not get anywhere close to $250,000. I would say that he might get about $20,000 if he's less than 6 months in business.

- Are you sure he has no collateral at all? No pre-owned real estate, equipment, luxury cars, antiques, arts, commercial accounts receivables, jewelry, or gold? If he has any of the tangible items, then he could qualify for a low tier asset-based loan program where they would do a short term deal with an approval amount of a particular percentage of the LTV of said items. Or, with the receivables, he could do some A/R factoring.

But that's pretty much it. Take this information back to your merchant to "educate" him on the process at hand.

Thank you John, you have been very informative and a true professional. People like you are very rare, keep up the good work. I am not a broker I am the merchant ( Businesses owner).

[AndyYSCISOdept]

John, I always find your responses to be so thoughtful and really spot on. Thank you for sharing. (No sarcasm)

[Funder Mark]

Totally agree.

[FUNd]

Oooooooh, what a twist. He's the "businesses owner". He just dropped the mic and got the drop on all us fools.

[JasonP]

Oooooooh, what a twist. He's the "businesses owner". He just dropped the mic and got the drop on all us fools.

Go get the Viagra fast , your boyfriend Jamal is waiting for you.

[MCNetwork]

I wonder how many merchants are lurking on this forum. What would they think of the shenanigans and mud slinging that typically goes on?

[FUNd]

I wonder how many merchants are lurking on this forum. What would they think of the shenanigans and mud slinging that typically goes on?

Who cares.

[J.Celifarco]

can this thread end please??? I am pretty sure the chance of anything useful coming out of it passed a while ago

[AndyYSCISOdept]

If I was to wave a white flag in my office right now can we just admit that this conversation/thread should be done?

way ahead of you.

[Sachip24]

lol plot twist

[J.Celifarco]

way ahead of you.

well I wish people would have listened to your sage advice three pages ago