Results 1 to 5 of 5
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05-17-2016, 02:44 PM #1
- 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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05-17-2016, 03:04 PM #2
- Join Date
- Jul 2014
- Posts
- 1,746
Sub 500 is usually recent BK, foreclosure, repossession, open tax liens, unresolved judgments, or child support. Which one is it? These can be an auto-decline at many lenders, regardless of the score.
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05-18-2016, 03:54 PM #3
- Join Date
- Apr 2016
- Posts
- 4
PM Me.
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05-18-2016, 04:42 PM #4
WBL can lend this client up to 2X his monthly deposits for as long as 18 months, even with a sub-500 FICO
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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05-18-2016, 09:37 PM #5
- Join Date
- May 2016
- Posts
- 42
We can look at this though due to the FICO below 600, we would cap the term at 6 months.
Steven Safirstein
Director of Sales & Head of ISO Relations
Breakout Capital Finance, LLC
6849 Old Dominion Drive, Suite 360, McLean, VA 22101
O: 703 852 6013
steven@breakoutfinance.com
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