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05-17-2016, 02:44 PM #1
Reputation points: 10
- Join Date
- Sep 2014
- Posts
- 10
Carpet & Upholstery Cleaner 25-30k Monthly Revenue. LOW FICO.
I'm working with a merchant that has a carpet and upholstery cleaning business that grosses about 25-30k monthly. He just got through his slowest months about to go into his busiest time of the year.
He's been in business for 20 years, currently pays $86 daily on an existing advance that he owes about 10k on. His last 6 months of bank statements look good, No NSF's. According to merchant he borrowed 16k and is paying back 24k.
THE PROBLEM: Merchant has a 495 FICO. Not sure how he was able to get such a low daily initially with his FICO.
Looking for 20-25k for this merchant at a 8+ month term if possible.
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