[JasonP]

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.

[Michael I]

http://dailyfunder.com/showthread.php/6040-Stacking

[J.Celifarco]

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.

still got nothing on how to get that amount of financing in this situation, but credit to you for asking the question much better this go around

[JasonP]

How does that help me.

[Chambo]

How does that help me.

It doesn't help you one bit. Basically, to even SNIFF those kinds of terms, the merchant needs to walk into their local bank, speak to a loan officer, and start the application process

How do YOU make coin off of that? you don't. Move in to the next one.

[MCNetwork]

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

You can get him a 40k cash advance and have him play the lotto.

[JasonP]

You can get him a 40k cash advance and have him play the lotto.

MCNETWORK has a lot of time on his hands for smart comments.

[CreditGuy]

The reason you are being mocked and derided is because your premise is completely devoid of even the most basic UW concepts of this industry. You are trying to get a merchant 4X monthly deposits (35% of revenues) with a very short TIB and no reliable track record upon which to forecast future cash flows and thus repayment. As many have said before, their best bet is an SBA loan from a bank. As you mentioned in your initial post, we are all very busy, but for you to come on here and ask us to solve your problem when the end state you are trying to achieve is a fantasy is you wasting our time. If you want to waste our time chasing rainbows, expect us to waste our time mocking you rather than being helpful. Many of us here are sick of the spam, the noobz that don't know **** about this industry, and those that lack the ability to use the forum's search function. 95% of the threads here fall into one of those categories, this one included.

Turnabout is fair play.

[VFG]

Ask your client for the following documents

1. 3 most recent corporate and personal returns (look at the net income of the company. If negative, forget the bank line)
2. Interim financials
3. AR & AP aging Summaries (if upside down, forget the bank)
4. Inventory Summary
5. Schedule of debt (if available)
6. Personal financial statements of the borrowers
7. Schedule of personally owned real estate
8. Most recent 4 mos bank statements business and personal
9. Executive summary on the business
10. Resumes on the principals

If client can provide all these and the docs and credit make sense, and if they own any personal properties and are willing to take out a second mortgage on the home as part of the SBA requirements, then send it to the bank.

If the client can't provide nearly half of the documents above, then land them in the reality that what they'll get from any cash advance lender is about what they produce
Monthly.

Good luck!

[Michael I]

Ask your client for the following documents

1. 3 most recent corporate and personal returns (look at the net income of the company. If negative, forget the bank line)
2. Interim financials
3. AR & AP aging Summaries (if upside down, forget the bank)
4. Inventory Summary
5. Schedule of debt (if available)
6. Personal financial statements of the borrowers
7. Schedule of personally owned real estate
8. Most recent 4 mos bank statements business and personal
9. Executive summary on the business
10. Resumes on the principals

If client can provide all these and the docs and credit make sense, and if they own any personal properties and are willing to take out a second mortgage on the home as part of the SBA requirements, then send it to the bank.

If the client can't provide nearly half of the documents above, then land them in the reality that what they'll get from any cash advance lender is about what they produce
Monthly.

Good luck!

just add to end of conversation " or i can get you 40k tomorrow "

[JasonP]

The reason you are being mocked and derided is because your premise is completely devoid of even the most basic UW concepts of this industry. You are trying to get a merchant 4X monthly deposits (35% of revenues) with a very short TIB and no reliable track record upon which to forecast future cash flows and thus repayment. As many have said before, their best bet is an SBA loan from a bank. As you mentioned in your initial post, we are all very busy, but for you to come on here and ask us to solve your problem when the end state you are trying to achieve is a fantasy is you wasting our time. If you want to waste our time chasing rainbows, expect us to waste our time mocking you rather than being helpful. Many of us here are sick of the spam, the noobz that don't know **** about this industry, and those that lack the ability to use the forum's search function. 95% of the threads here fall into one of those categories, this one included.

Turnabout is fair play.

What part of this did you not understand "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."
You are just another dude with too much free time.

[JasonP]

just add to end of conversation " or i can get you 40k tomorrow "

Thanks Micheal .

[CreditGuy]

What part of this did you not understand "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."
You are just another dude with too much free time.

The part where you don't get to tell me what to do.

[Regium]

You can always send him to the Shark Tank

[MCNetwork]

This merchant won't qualify for SBA if he's a recent startup. Like I said, 40k-50k is his best bet so if you're a halfway decent salesperson you can influence him to take the smaller advance now in order to establish the relationship. This will in turn open the door to larger cash advance amounts in the future. You need to learn how to sell him on the dream and properly manage his expectations so he'll accept the lower advance. Sales is a battle of wills. He will either sell you on 250k or you'll sell him on 40k. The problem is that if he sells you, you won't earn a penny.

[bsmith]

What part of this did you not understand "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."
You are just another dude with too much free time.

You have been given, and rejected, very real and valuable information on the environment here at the DF. If you don't bother to learn about your surroundings, your future will be bleak. Don't take my word for it, you should already be seeing it now. The solution you should be seeking is how to improve yourself, just as we work to improve ourselves. Seek to learn, improve upon yourself, and the answers will come to you.

[HFS]

You need to learn how to sell him on the dream and properly manage his expectations so he'll accept the lower advance. Sales is a battle of wills. He will either sell you on 250k or you'll sell him on 40k. The problem is that if he sells you, you won't earn a penny.

Im all for making money and not being a piker but dont lie to the merchant. No one ever will qualify for 4x the monthly gross even if they have renewed 5 times with the same funder. Explain to him how renewals work and how he can use the product you are educating him about like a revolving line of credit. Reputation is all you have and it does no good to wrongfully persuade a merchant to take on dept that they do not need depending the financial needs.
Furthermore, criticism>complements.

[Zach]

If the client has real estate collateral, WBL can lend up to 3X his monthly revenue, which equates to ~$180K.

[FUNd]

I see guys like JasonP here come and go everyday in this biz. He was sold a bill of goods, poorly trained, thrown on the phone, had one good month with the help of his manager, jumped ship, started an ISO, and now is upset because he's finding out he knows nothing and is sinking faster than the Titanic.

Am I close?

[JasonP]

I see guys like JasonP here come and go everyday in this biz. He was sold a bill of goods, poorly trained, thrown on the phone, had one good month with the help of his manager, jumped ship, started an ISO, and now is upset because he's finding out he knows nothing and is sinking faster than the Titanic.

Am I close?

Not even close, "TROLL"

[FUNd]

Not even close, "TROLL"

Really, then where is your manager? Shouldn't he be answering your noob deal scenarios?

[Sachip24]

You need to learn how to sell him on the dream and properly manage his expectations so he'll accept the lower advance. Sales is a battle of wills. He will either sell you on 250k or you'll sell him on 40k. The problem is that if he sells you, you won't earn a penny.

quite possibly the best thing I have read on this forum thus far.

[VFG]

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

[JasonP]

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

Thanks VFG

[FUNd]

Lmao