Chapter 13 (open) Requesting $20K

**ARFTC** · 08-03-2016, 01:44 PM

Hello,

I have a Dental office with an open Chapter 13 BK filed in 2015. They are looking for $20K. This office is doing $35,000 per month, 30 years in biz and the principle has a 600 FICO.

Can any direct lender work with this? If so, please PM me.

Thanks,
Tony

**ADiamond** · 08-03-2016, 01:45 PM

is he on a payment plan and making payments?

**Chambo** · 08-03-2016, 01:49 PM

Originally Posted by ARFTC

Hello,

I have a Dental office with an open Chapter 13 BK filed in 2015. They are looking for $20K. This office is doing $35,000 per month, 30 years in biz and the principle has a 600 FICO.

Can any direct lender work with this? If so, please PM me.

Thanks,
Tony

They might be looking for that, but ther eis no way they are going to get that...in an open BK

Try MCG

**ridextreme** · 08-03-2016, 01:56 PM

Originally Posted by Chambo

They might be looking for that, but ther eis no way they are going to get that...in an open BK

Try MCG

Hahahaha

Thank you I almost spit out my lunch while laughing so hard.

Tony you really need to tell your client their expectations are way too high. If he's lucky, the Doctor "might" be offered a small 5K 2 month deal.

Sometimes you just need to move onto the next deal but I understand how tough it is when they are few and far between

**NoBigDeal** · 08-03-2016, 02:01 PM

Originally Posted by ridextreme

Hahahaha

Thank you I almost spit out my lunch while laughing so hard.

Tony you really need to tell your client their expectations are way too high. If he's lucky, the Doctor "might" be offered a small 5K 2 month deal.

Sometimes you just need to move onto the next deal but I understand how tough it is when they are few and far between

agreed! while, for the life of me, will never understand why people would do this kind of deal, I know of funders who would entertain funding an open BK merchant. But, like ridextreme mentioned, it'll be low single digit funding, with high double digit factor on the money
Good luck

**John Galt** · 08-03-2016, 02:16 PM

Client needs a sex change operation has a 500 score, new biz. Costa Rica call tel center....lol

**Kevin Henry-Seacoast** · 08-03-2016, 02:26 PM

Originally Posted by John Galt

Client needs a sex change operation has a 500 score, new biz. Costa Rica call tel center....lol

Careful John-You will probably get 50 calls from "direct lenders" that can do that deal....

**Funder Mark** · 08-03-2016, 02:29 PM

Originally Posted by John Galt

Client needs a sex change operation has a 500 score, new biz. Costa Rica call tel center....lol

Don't even joke about that, SJW/PC police on the way...

**EmpireRoth** · 08-03-2016, 02:58 PM

please email me the deal nathan@empirefunding.com

DIRECT LENDER
Empire funding
1022 AVE M
Brooklyn NY

**ridextreme** · 08-03-2016, 04:29 PM

ARFTC, do you really believe there are "Direct Lenders" on here looking for leads? The majority of us are brokers and the few that are direct lenders are looking to recruit ISO's, not submit deals (and the rest who claim to be a "Direct lender" syndicated a small deal last year so they think that qualifies them to be a direct lender.

**mcaguru** · 08-03-2016, 04:38 PM

Opened will decline / Closed will fund.

Wonder if i placed a post under another name claiming, my client is on Death-Row and does 10k a month in selling his paintings via payment processor JPAY (yes there is a market for killers art work) and has a monthly residual from his NBC Documentary
"The Roadside Strangler" (6K) how many so called direct lenders would jump-out and reply send file ASAP?!

**Funder Mark** · 08-03-2016, 05:15 PM

Originally Posted by mcaguru

Opened will decline / Closed will fund.

Wonder if i placed a post under another name claiming, my client is on Death-Row and does 10k a month in selling his paintings via payment processor JPAY (yes there is a market for killers art work) and has a monthly residual from his NBC Documentary
"The Roadside Strangler" (6K) how many so called direct lenders would jump-out and reply send file ASAP?!

If I was the one posting that, you would...

**TStein** · 08-03-2016, 05:39 PM

Onto the next! Healthcare industry is on fire right now .. plenty more out there.

jotucker1983 · 08-03-2016, 06:52 PM

Originally Posted by ARFTC

Hello,

I have a Dental office with an open Chapter 13 BK filed in 2015. They are looking for $20K. This office is doing $35,000 per month, 30 years in biz and the principle has a 600 FICO.

Can any direct lender work with this? If so, please PM me.

Thanks,
Tony

That's dead for the most part man. If they get any approval at all, it won't be worth taking. Tell the merchant that once they are discharged/dismissed from the BK filing for at least 6 months, that you can look at doing a submission.

**ridextreme** · 08-04-2016, 09:13 AM

Originally Posted by ARFTC

Can any direct lender work with this? If so, please PM me.

so if a broker was able to get this guy 10K, you wouldn't want to split commission with him because he's not a "Direct Lender" even if no one else can do it? smh... I guess you have to stick with your pride right. This industry is full of egomaniacs.

**MCNetwork** · 08-04-2016, 09:22 AM

Originally Posted by ridextreme

so if a broker was able to get this guy 10K, you wouldn't want to split commission with him because he's not a "Direct Lender" even if no one else can do it? smh... I guess you have to stick with your pride right. This industry is full of egomaniacs.

With a deal like that, I'd be happy to go through a broker's broker to another broker to get this funded...

**VFG** · 08-04-2016, 12:00 PM

Or send it to CAN and wait for the clawback to kick in

**FCG** · 08-04-2016, 01:19 PM

I can do 15k 1.42 70 payments but you will only make 2 points, as long as they are on a payment plan.

**Andrew Roberts** · 08-04-2016, 04:05 PM

Thanks Chambo. I sent out the offer this morning. And to the forum, we are a direct funding source.

**ARFTC** · 08-05-2016, 10:45 AM

Hey Ridextreme,

First, there are direct lenders on this forum and I have developed good relationships with some.

Second, the deal was accepted by a lender... sometimes you just have to make it about the customer and go the extra mile to to take care of the merchant. This has nothing to do with ego... if a broker can get it done (and I'm sure some can)... I'm all ears. I'm not too proud to take a hit on commish to get the deal done.

As always, I appreciate your insights.

**ARFTC** · 08-05-2016, 10:49 AM

Hi Chambo,

I did get it done, but thanks for your insight.

**Chambo** · 08-05-2016, 11:26 AM

Originally Posted by Andrew Roberts

Thanks Chambo. I sent out the offer this morning. And to the forum, we are a direct funding source.

I bet your offer wasn't $20,000

**NoBigDeal** · 08-05-2016, 11:54 AM

Originally Posted by ARFTC

Hi Chambo,

I did get it done, but thanks for your insight.

Who'd you fund with? Curious to know what kind of deal they got

**ridextreme** · 08-05-2016, 11:55 AM

Originally Posted by NoBigDeal

Who'd you fund with? Curious to know what kind of deal they got

I doubt it funded this quick. Let's see if it passes final underwriting, whatever the deal might be.

**cturtle** · 08-05-2016, 04:17 PM

You dealing with an office manager named Larry?This sounds familiar.

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Chapter 13 (open) Requesting $20K

Chapter 13 (open) Requesting $20K

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