[Fundyman]

I know I'd get the usual "go to Dealstruck" or "Funding Circle." Both declined. One, for banal reason.

I need a lender that can lend even provide a line of credit to a merchant who grosses over $800,000/annual, and is on pace to making $1M this yr.

Reason for funds: Inventory & payroll
Slow months: Dec-Apr
Avg monthly gross: $100K during May all the way through Nov.
FICO: 600+

They won't start seeing serious revenue until May, at about $65-70K, then $100K+ every month thereafter.
Right now, bank statements won't reflect more than maybe $10K. It's a REAL seasonal business.

I need a lender who can do a true business loan or line of credit, and get it funded within reasonable time.

PM or email: solidmerchantsolutions@yahoo.com

Thanks

[Michael Jagiello BGF]

Your only bet might be LoanMe

[brokerCompany]

accion.org
with no revenues and no AR you are not going to get a true business line of credit
and loan me will give you 10-15k if you are lucky

I know I'd get the usual "go to Dealstruck" or "Funding Circle." Both declined. One, for banal reason.

I need a lender that can lend even provide a line of credit to a merchant who grosses over $800,000/annual, and is on pace to making $1M this yr.

Reason for funds: Inventory & payroll
Slow months: Dec-Apr
Avg monthly gross: $100K during May all the way through Nov.
FICO: 600+

They won't start seeing serious revenue until May, at about $65-70K, then $100K+ every month thereafter.
Right now, bank statements won't reflect more than maybe $10K. It's a REAL seasonal business.

I need a lender who can do a true business loan or line of credit, and get it funded within reasonable time.

PM or email: solidmerchantsolutions@yahoo.com

Thanks

[Fundyman]

Your only bet might be LoanMe

Tried LoanMe, but only got $17K... Not enough.

[Fundyman]

accion.org
with no revenues and no AR you are not going to get a true business line of credit
and loan me will give you 10-15k if you are lucky

Correct. But in less than 2 months, there is substantial revenue coming in. Isn't there a company out there that is truly equipped to lend to such types of seasonal merchants?

[brokerCompany]

if he has the great credit and business plan to show forecasts I have seen accion do it.
Does he have equipment to use as collateral? yellow iron/?

Correct. But in less than 2 months, there is substantial revenue coming in. Isn't there a company out there that is truly equipped to lend to such types of seasonal merchants?

[nrh1lp]

Aside from going ABL your merchant does not have many options. For almost half a year your merchant is grossing about 10-15% of what they typically gross during their hot period. So The DSCR may be feasible during that may-nov time frame however for the other 5 months they are a huge risk unless they keep an absurd amount of cash in the bank. If they were looking for equipment you may have a few options for a monthly pay but this merchant needs to have something to secure to get what he wants

[Fundyman]

Aside from going ABL your merchant does not have many options. For almost half a year your merchant is grossing about 10-15% of what they typically gross during their hot period. So The DSCR may be feasible during that may-nov time frame however for the other 5 months they are a huge risk unless they keep an absurd amount of cash in the bank. If they were looking for equipment you may have a few options for a monthly pay but this merchant needs to have something to secure to get what he wants

The only thing he has is discipline during the slow months w/ no negative days, but here's the point: Slow months are basically almost over. May is around the corner, at about $70K, then $100K+ in June, & so on....

Everyone is going to want to jump him for MCAs starting in May, but he needs money now. He's gonna send those funding companies to hell in 2 months cause he'll already have funds by then. I'm just surprised there's not a lender out there who can see 12 months of bank statements on a well-established company, notice the pattern, and structure a repayment program that makes them feel comfortable to lend even now, when he needs the capital, as opposed to 2 months from now, when he no longer needs it...

[HGB]

holley@capassist.com

[Fundyman]

holley@capassist.com

Gotcha, Holley! Check your email.

[ryan $]

Your only bet might be LoanMe

You really dont know what LoanMe will give, ive seen them do crazy things.... It really depends on daily balances..which wasnt given.

Its safe to say it wont exceed 67,500 tho