[AidanQS]

I have a merchant who generates 200k/month. He owns two separate businesses and is looking to get funded a total of 150k. He doesn't want to provide financials, only 1yr bank statements and merchant statements. He only wants monthly payments, and has rejected a 135k 1.24 12 month weekly payment I presented to him. He would like to get each of his businesses funded 75k monthly payments at a low rate without providing financials. any takers?

[AlexSMF]

I have a merchant who generates 200k/month. He owns two separate businesses and is looking to get funded a total of 150k. He doesn't want to provide financials, only 1yr bank statements and merchant statements. He only wants monthly payments, and has rejected a 135k 1.24 12 month weekly payment I presented to him. He would like to get each of his businesses funded 75k monthly payments at a low rate without providing financials. any takers?

And I would like for Bill Gates to adopt me and make me the sole aire to his estate while Scarlet Johansson feeds me grapes naked. Sounds like your merchant needs to understand that no one is giving him 150,000 on a term monthly payment loan without seeing his tax returns and financials.

[VFG]

So he wants bank rates with non-traditional underwriting? Not possible. 1.24 for not being able to provide financials in my opinion is a great setup. I think your client may be wasting your time and you need to land him in reality.

[bdshaw]

Why not push him back a bit by asking if he would make that loan for a stranger.
Bob

[AlexSMF]

Why not push him back a bit by asking if he would make that loan for a stranger.
Bob

Anyone not willing to provide financials that turns down 150k @ 1.24 for 12 months with weekly payments should be tarred and feathered. Either the merchant is living on a different planet or you didn't do a good enough job asking questions and setting expectations.

[VFG]

Mr. Client Part of what I do besides providing you with the best financing solution is research the different lenders in the industry and keep up to date with the market changes and new underwriting guidelines within the finance community. Looking at your particular situation, the weekly payments is the best fit at the moment, given no financial statements have been provided and most lenders who structure monthly payments, require financial statements as well as corporate returns as part of their documentation requirements.

What is the main reason stopping you from providing me with financials mr client?

Try to understand why he is not giving you the financials and use whatever his response is as a rebuttal tool.

[bdshaw]

Nice approach VFG.
In my experience clients who dont want to give you financials are hiding something. Generally lousy statements.
Bob

[FUNd]

As soon as prospects start pounding their fist over what they want, they typically get a large dose of reality from my side of the phone. I don't give a F if they hang up on me, I'm the boss.

Never let a merchant tell you how to do your job. It's the practice of a weak salesperson and you'll never succeed in any meaningful way in B2B finance. Period. You may make a living being a doormat, but you'll never be a superstar.

[bdshaw]

FUNd....thanks for the F

[Chambo]

I have a merchant who generates 200k/month. He owns two separate businesses and is looking to get funded a total of 150k. He doesn't want to provide financials, only 1yr bank statements and merchant statements. He only wants monthly payments, and has rejected a 135k 1.24 12 month weekly payment I presented to him. He would like to get each of his businesses funded 75k monthly payments at a low rate without providing financials. any takers?

Don't waste your time. Nobody is going to give him $100,000 without checking his financials, ESPECIALLY a 12 month program

[FUNd]

FUNd....thanks for the F

It was just for you Bob. I'm glad you liked it.

[WhoisKingsley]

I have a merchant who generates 200k/month. He owns two separate businesses and is looking to get funded a total of 150k. He doesn't want to provide financials, only 1yr bank statements and merchant statements. He only wants monthly payments, and has rejected a 135k 1.24 12 month weekly payment I presented to him. He would like to get each of his businesses funded 75k monthly payments at a low rate without providing financials. any takers?

So funny I thought of QS! The merchant is not very smart for taking your offer. Especially, since he doesn't have to supply financials. Your'e basically cross collateralize - ing his businesses into one... he just needs to set up an auto ach weekly from one acct to the one that is being debited from you and just make a note to make sure his taxes reflect the payment from the other business.

I understand he may have personal reasons (or whatever) to not continue with his financials but you guys are more than lenient to not request so many documents. My opinion... he'll come running back if he tries to get another MCA elsewhere and realizes how it really is... or just tell him to read the responses lol!

[BSCI 504]

If these are brick and mortar store fronts and he has at least a 601 credit score. I have a lender that will loan merchant the money for both locations. If you need more info PM me.

[bsmith]

Bob and FUNd hit it right on the head though. If you aren't pushing back on your clients when necessary, you're just an order taker at that point and might as well work at McDonald's