[sigmundpannu]

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?

[Zach]

WBL is the only option I'm aware of that would fund this

[Kevin Henry-Seacoast]

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?

Sigmund,

I would be happy to take a look.

Best,

Kevin

[CrouchingIsoHiddenFunder]

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?

[J.Celifarco]

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

[Jonathon]

I just funded one with CAN that had 7 neg. daily balances in May, otherwise talk to WBL or LoanMe

[J.Celifarco]

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?

also another factor will be reason for the bad month if there was a legitimate excuse for the issues there will be more banks willing to look

[CrouchingIsoHiddenFunder]

also another factor will be reason for the bad month if there was a legitimate excuse for the issues there will be more banks willing to look

That's kind of what I was suggesting in my post. It would have to be something viable and verifiable for most the underwriters I know to even consider it though.

[Mmarano]

Frankly, We would most likely fund it again. Send the deal back to us. If you were not the original agent and 30 days has passed it would be your deal with us. Ship it.

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?

[J.Celifarco]

Frankly, We would most likely fund it again. Send the deal back to us. If you were not the original agent and 30 days has passed it would be your deal with us. Ship it.

So an ISO owns a deal for 30 days after it is paid off? After that it is fair game for anyone?

[Chambo]

So an ISO owns a deal for 30 days after it is paid off? After that it is fair game for anyone?

that is standard

[J.Celifarco]

that is standard

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 back

[Michael I]

Frankly, We would most likely fund it again. Send the deal back to us. If you were not the original agent and 30 days has passed it would be your deal with us. Ship it.

that is your best bet if you are . otherwise try loan me

[LoanMe]

Sigmund, depending on how much they are looking for and which state they are in. LoanMe can take a look at this file.

[EmpireRoth]

Would love to take a look

nathan@empirefunding.com

[Chambo]

Would love to take a look

nathan@empirefunding.com

Hyman Roth.jpg

[sigmundpannu]

He isn't in one the LoanMe approved states, otherwise I would have sent him to you.It is PA.

[TedFundy]

Sent you a PM. We can fund this.

[anonymous]

Hyman Roth.jpg

hah roth, didn't catch it at first

[sigmundpannu]

Mmarano-Sent you a pm

[Mmarano]

Yes sir. This is not as aggressive as some other companies but we take an active role in making certain our partners are able to renew their deals and maintain the book.

So an ISO owns a deal for 30 days after it is paid off? After that it is fair game for anyone?

[bth capital]

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