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09-15-2016, 10:25 PM #1
Hotel Needs $25K minimum; I need 1.15 buy rate max. Short Term OK.
Here's the scenario:
This hotel owner has been in the industry over 25 yrs.
Runs several hotels, & leases out a few of the ones he owns as well.
On this particular deal the merchant had a tenant whose lease expired in May after 5 yrs. Tenant didn't renew.
So, the merchant decided to run the business himself since June until he decides whether to lease it again in the future or just keep running it.
He needs short term MCA for at least $25K.
I need 1.15 buy rate or lower.
Short term no problem.
Credit is 700+
Basically, I have 3 months bank statements, averaging $30K.
Avg. ending balance: $2,900
Avg. daily balance: $2,699
0 NSFs YTD; 0 Overdrafts.
If you know for a fact you can deliver w/out fail & you can tell me why, please respond ASAP. I'll submit file 1st thing in the morning.
I can only submit the file to ONE funder. The merchant won't allow me more than one inquiry on his credit.Last edited by Fundyman; 09-16-2016 at 05:23 PM.
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09-15-2016, 10:49 PM #2
- Join Date
- May 2015
- Location
- NYC
- Posts
- 197
CAN Retention
Tommy Stein
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09-16-2016, 10:23 AM #3
If Credit is as high as you say try CAN OnDeck or BreakOut
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09-16-2016, 11:18 AM #4
don't expect to lso make 8-10 points on a deal like this
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09-16-2016, 05:10 PM #5
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09-16-2016, 11:20 AM #6
- Join Date
- Jun 2015
- Posts
- 3,326
the lease ending will be an issue with can , you should fix that before submitting
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09-16-2016, 05:15 PM #7
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09-16-2016, 12:43 PM #8
- Join Date
- Aug 2016
- Posts
- 4
Give me a call 707-284-3026 I know we can deliver a loan. We lend 3x monthly deposit, any lien position on RE. He can qualify for our Gold pricing 6 month 1.24 paying you 8 pts. We would need to ask for an exception for the loan amount. Our min is 50k for Gold pricing.
Joe Ibarguen
WBL
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09-16-2016, 02:31 PM #9You sharpen the human appetite to the point where it can split atoms with it's desire..
You build ego's the size of cathedrals..
Fiber-Optically connect the world to every eager impulse..
Grease even the dullest dreams with these dollar-green, gold-plated fantasies..
Until every human being becomes an aspiring emperor..
Becomes his own God
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09-16-2016, 03:48 PM #10
- Join Date
- Aug 2016
- Posts
- 25
PMd
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