9 Years in biz but 1 month of biz bank statements
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  1. #1
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    9 Years in biz but 1 month of biz bank statements

    I have a 9 year old business that used personal bank statements instead of business. Anyone know of a lender that can fund with 1 month of business bank statements.

  2. #2
    Veteran Reputation points: 159073 J.Celifarco's Avatar
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    Quote Originally Posted by aak723 View Post
    I have a 9 year old business that used personal bank statements instead of business. Anyone know of a lender that can fund with 1 month of business bank statements.
    if you have at least 1 month of a business statement most of the A lenders will look at that if you also have the personal from prior and that the deposits are consistent throughout
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
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    Email: john@horizonfundinggroup.com

  3. #3
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    Quote Originally Posted by J.Celifarco View Post
    if you have at least 1 month of a business statement most of the A lenders will look at that if you also have the personal from prior and that the deposits are consistent throughout
    I tried sending to bizfi and 1st Merch. Neither wanted to look. OnDeck perhaps?

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    Quote Originally Posted by aak723 View Post
    I tried sending to bizfi and 1st Merch. Neither wanted to look. OnDeck perhaps?
    No way.

  5. #5
    Veteran Reputation points: 159073 J.Celifarco's Avatar
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    Quote Originally Posted by aak723 View Post
    I tried sending to bizfi and 1st Merch. Neither wanted to look. OnDeck perhaps?
    This is just going to waste time you can spend trying to get another deal done.. Let it go and move on.. D paper funders wont look at that forget the guys you are mentioning.. Do yourself a favor and let this one go.
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

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    Quote Originally Posted by J.Celifarco View Post
    This is just going to waste time you can spend trying to get another deal done.. Let it go and move on.. D paper funders wont look at that forget the guys you are mentioning.. Do yourself a favor and let this one go.
    That is the right way to go, for sure. These tiny deals slip through the cracks with us and we find out a few months later someone else funded them that was a little more resourceful. Drives me bananas because at the end of the month we're left with 7-10 working capital deals that we could have won if we did more digging.

  7. #7
    Veteran Reputation points: 159073 J.Celifarco's Avatar
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    Quote Originally Posted by aak723 View Post
    That is the right way to go, for sure. These tiny deals slip through the cracks with us and we find out a few months later someone else funded them that was a little more resourceful. Drives me bananas because at the end of the month we're left with 7-10 working capital deals that we could have won if we did more digging.
    if there is someone out there that would do this I would be amazed. Also if you do get it done please let us know because would love to know a bank that would fund a deal that looks like this.. My money is on this is unfundable though
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  8. #8
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    Quickbridge

  9. #9
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    Quote Originally Posted by Jonathon View Post
    Quickbridge
    Stop it.

  10. #10
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    Quote Originally Posted by aak723 View Post
    That is the right way to go, for sure. These tiny deals slip through the cracks with us and we find out a few months later someone else funded them that was a little more resourceful. Drives me bananas because at the end of the month we're left with 7-10 working capital deals that we could have won if we did more digging.
    Time management. Would you rather spend your time pulling 5 goldfish out of the water or one whale?

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    Senior Member Reputation points: 7162 TheShitzuofMCA's Avatar
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    Thats a trick question dont answer it...lol

  12. #12
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    I'll take tuna all day long

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    Quote Originally Posted by aak723 View Post
    That is the right way to go, for sure. These tiny deals slip through the cracks with us and we find out a few months later someone else funded them that was a little more resourceful. Drives me bananas because at the end of the month we're left with 7-10 working capital deals that we could have won if we did more digging.
    You are correct there are lenders that will do it

  14. #14
    Veteran Reputation points: 159073 J.Celifarco's Avatar
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    Quote Originally Posted by Michael I View Post
    You are correct there are lenders that will do it
    who??? Open BK Real Estate
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

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    Quote Originally Posted by J.Celifarco View Post
    who??? Open BK Real Estate
    No one . I am talking about one month of business bank statement

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    Quote Originally Posted by J.Celifarco View Post
    who??? Open BK Real Estate
    You're thinking of POS deal #1, this thread is for POS deal #2.

  17. #17
    Veteran Reputation points: 159073 J.Celifarco's Avatar
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    OK then my posts are all screwed up, real estate deal burn never look at again. Deal with personal statements and 1 month business good for funding I would send to Bizfi/mcc and Credibly. I would think if credit is decent either of those would make an offer..

    Sorry bout that got the POS deal and the maybe got a long shot deal confused there
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  18. #18
    Senior Member Reputation points: 32658 Zach's Avatar
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    WBL can fund this one IF.... (insert best guess here)















    ... they have real estate collateral
    Last edited by Zach; 06-03-2016 at 06:10 PM.
    Zachary Ramirez – CEO
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  19. #19
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    What is the business and could something other than an advance work?
    Bob

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