Results 1 to 22 of 22
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07-06-2016, 01:14 PM #1
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
Negative Ending Daily Balances
I have a company that designs and manufactures thin film coating systems
At the end of November they did a $60k loan with Cresthill/Mantis for 4 months,
however it took them 5 months to pay it back, there were several missed payments, but didn’t default.
No current advances
They DO NOT take credit cards
Month Deposits Avg daily balance negative
June $503,636 $28,886 3
May $157,001 $7,314 2
April $154,468 $3,452 14
There are no BK, tax liens, judgments, owner has clean credit.
Been in business since 1991, 15 employees, average $3MM gross sales annually
Any lenders interested in looking at this file?Last edited by sigmundpannu; 07-06-2016 at 01:16 PM.
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07-06-2016, 01:18 PM #2
WBL is the only option I'm aware of that would fund this
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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07-06-2016, 01:19 PM #3
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,499
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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07-06-2016, 01:25 PM #4
As you already seem to have guessed an adjustable CC based deal probably would have worked, but as they have no CC processing the best you can do for them is to give them some ideas on how to prevent the constant negatives, and possibly try again in a couple of months. If April is a stand out and the rest of the months have very low or no NSF's you can probably negotiate something.
April kills this though negative for half a month? how could they support a daily draw with that?
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07-06-2016, 01:32 PM #5
This is a tough file but with a clean July you should be able to get done.. Possibly even mid month with a strong MTD transaction history
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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07-06-2016, 01:33 PM #6
- Join Date
- May 2014
- Posts
- 187
I just funded one with CAN that had 7 neg. daily balances in May, otherwise talk to WBL or LoanMe
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07-06-2016, 01:39 PM #7John 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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07-06-2016, 01:41 PM #8
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07-06-2016, 01:58 PM #9
- Join Date
- Feb 2014
- Location
- New York
- Posts
- 162
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07-06-2016, 02:00 PM #10John 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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07-06-2016, 02:03 PM #11
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07-06-2016, 02:19 PM #12
I know just like to confirm different banks have different policies.. The other option would be if they know what deal it is and with the info given they probably do would be to reach out to the iSO with a heads up to call their merchant. This is an existing ISO of theirs I am sure they would appreciate that info and the bank looks good in the merchants eyes.. win win for everyone
On a side note Sigmund be careful how much info you put in the post because now they can try to get the merchant backJohn 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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07-06-2016, 02:21 PM #13
- Join Date
- Jun 2015
- Posts
- 3,325
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07-06-2016, 02:38 PM #14
- Join Date
- Nov 2014
- Posts
- 438
Sigmund, depending on how much they are looking for and which state they are in. LoanMe can take a look at this file.
LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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07-06-2016, 02:59 PM #15
- Join Date
- Jun 2016
- Posts
- 68
Would love to take a look
nathan@empirefunding.com
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07-06-2016, 03:12 PM #16
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07-06-2016, 03:16 PM #17
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
He isn't in one the LoanMe approved states, otherwise I would have sent him to you.It is PA.
Last edited by sigmundpannu; 07-06-2016 at 03:20 PM.
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07-06-2016, 03:31 PM #18
- Join Date
- Mar 2016
- Posts
- 335
Sent you a PM. We can fund this.
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07-06-2016, 04:11 PM #19
- Join Date
- Sep 2014
- Posts
- 720
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07-06-2016, 04:37 PM #20
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
Negative Ending Daily Balances
Mmarano-Sent you a pm
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07-06-2016, 05:08 PM #21
- Join Date
- Feb 2014
- Location
- New York
- Posts
- 162
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07-16-2016, 04:21 PM #22
- Join Date
- Apr 2015
- Posts
- 20
I can put him into are hedge fund program or invoice factoring program what ever works for him give me call any time 843-796-4039 direct number Brad
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