Results 1 to 6 of 6
Hybrid View
-
05-14-2016, 08:00 PM #1
- Join Date
- Mar 2016
- Posts
- 47
Non-profit - church/school with monthly govt guaranteed income, but lots of NBDs
I had already presented this deal to one lender that didn't approve it, and I pretty much told the client that there was nothing that we could do, because of the high number of negative balance days (13-23), as shown on the 4 most recent bank statements, covering their 2 business accounts. But after looking at some of the even more challenging deals that have been presented here, I have decided to give it a shot here as well. Who knows...maybe there's someone out there that can do this.
The client is a church & school that averages around $56,000 over the past 4 months, and gets around $20k/mo in guaranteed subsidies. The 'Tot. Deposits' monthly already include the subsidy payments, which is also shown for each month. Activity is spread over 2 business accounts, and shown is the cumulative monthly total for both. They are trying to raise $50k, but know that that may not be possible, due to the challenges that this deal presents, so they are open to all offers, again, if at all possible. The signing principal has a 680 FICO, as reported from a soft pull.
Here's the overview:
Jan Feb Mar Apr $Tot. Deposits 79,818 54,297 47,769 45,079 NBDs 18 14 18 23 Subsidy 20,318 19,710 22,956 22,770
One more detail: Their 2015 tax return shows $682k, if it matters.
Is there a "can-do" magician in the house?
Let me know.Last edited by WeFundIt; 05-14-2016 at 08:04 PM.
-
05-15-2016, 09:13 AM #2
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
I feel for you, with this client. I had two church/school clients last year with better numbers than these and in short...it ended up being a colossal waste of time. I wish you the best with this file. If they have real estate, I would try to leverage that.
Last edited by dpFund; 05-15-2016 at 11:18 PM.
-
05-15-2016, 02:49 PM #3
- Join Date
- Mar 2016
- Posts
- 47
-
05-15-2016, 04:39 PM #4
- Join Date
- Mar 2016
- Posts
- 83
Sent you a pm
Marvin K. Fauntroy
-
05-15-2016, 09:33 PM #5
- Join Date
- Jul 2014
- Posts
- 196
Non-profit - church/school with monthly govt guaranteed income, but lots of NBDs
We can fund non-profits without a problem but those negative days are the killer. Best I can say is I can look at the file and see if something can be done based on the big deposits they get once a month. Or maybe a start up deal with more capital based on payments.
Mike@SamsonPartnersLLC.com
347-492-1801
-
05-16-2016, 10:44 AM #6
- Join Date
- May 2016
- Posts
- 16
Good Morning,
I work for a direct lender, JD Merchant Capital, Based out of Hartford, CT and I saw your request for Funding. I would like to extend my services in helping you to secure the working capital you are looking for.
I spoke to my Senior Underwriter and was told that we could offer the church/school $20,000 with just the statements and numbers, or $80,000 if there is any kind of collateral.
Please feel free to reach me directly (860) 906-1302 or via Email at Amy.JDMerchantCapital@outlook.com
I look forward to hearing from you and crafting a custom package that will benefit you and your client.
Sincerely,
Amy C. Riddle
Similar Threads
-
Lots of revenue but lots of MCA loams
By Seanquinnn in forum Deal BinReplies: 10Last Post: 08-25-2015, 11:42 AM -
Govt Contractor needs competitive 2nd position offer (75k+) ASAP
By MotherFunder in forum Deal BinReplies: 6Last Post: 10-17-2014, 12:27 PM -
Govt General Contractor Needs $300k
By MotherFunder in forum Deal BinReplies: 4Last Post: 08-21-2014, 04:54 PM -
2nd Position Restaurant Lots of Negative Days in 1 month out of 4
By danra in forum Deal BinReplies: 2Last Post: 07-31-2014, 07:24 PM -
Cosmetology School
By GMFunding in forum Merchant Cash AdvanceReplies: 3Last Post: 12-31-2013, 10:48 AM