Results 1 to 6 of 6
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07-09-2016, 04:19 PM #1
- Join Date
- Mar 2016
- Posts
- 47
Low monthly revs, but clean banks, need $10 - 20k
I have a client that averages roughly $5500 per mo, but his banks are clean with no negatives and relatively healthy ending balances. No existing loans. Over the last 6 months: High month deposit = $9k; Low month =$5k+. A quick glance shows average ending balances of around $7k. Owner's FICO <600. Cresthill/Mantis is my go-to lender for a deal like this, but they said that the revs were too low. He's looking for around $10 - 20k if possible, but will consider smaller amount. Any takers?
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07-09-2016, 05:32 PM #2
- Join Date
- Jul 2015
- Posts
- 1,202
I really don't know how asking twice revs on a client with that profile will be met anywhere. And barring some special situation, there is no way avg balance can be 7k consistently.
Can you supply your contact information? That would be a good idea.
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07-11-2016, 11:36 AM #3
- Join Date
- Dec 2013
- Posts
- 4,713
Cresthill capital is probably the most aggressive High Risk lender (especially on files under 25K..but love the big files as well)...offers made in 3 hour and fewest stips and funds hours after contract back-in... we understand that offers need to be adjusted and have a new department only for that purpose.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-11-2016, 11:39 AM #4
- Join Date
- Jul 2013
- Posts
- 352
Mr merchant good job on keeping positive daily ledgers. When you're revenue is consistently greater than 10k I should be able to work out an approval for you. Let's touch base in 3 months.
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07-11-2016, 11:40 AM #5
- Join Date
- May 2016
- Posts
- 41
I can help this client. I have a direct lender who will offer this client something. Please contact me.
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07-12-2016, 09:54 AM #6
- Join Date
- Mar 2016
- Posts
- 47
Funding secured through CapAssist. Client is happy.
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