[jguzik]

Hello,

I have a file for a laboratory with 21 months in business doing $170k/month avg ($114-260k/last 6 months). The issue is the owner just got his social security card on 8/31/16 and the credit cannot be pulled at this time. For this reason, the merchant is ready to move on any offers.

If you are a lender that can do this deal, please let me know.

[Michael I]

Empire officially claims they don't pull credit

[anydealfunded]

Intelligencedx

[bdshaw]

Is this a medical lab? I'd so, I think we can help.
Bob Shaw
rshaw@delanceyfunding.com
734-929-3800

[mcaguru]

What does show when you pull credit ?

[Kevin Henry-Seacoast]

What does show when you pull credit ?

What does it matter? The questions should be geared towards what the business is doing first. How does he sell to? What does the balance sheet and income statements look like? How is his AP? What specific kind of laboratory? How is ownership broken down? Get comfortable with the business before you pull the guys credit.

[TheShitzuofMCA]

Its rough cause I agree you should know the file and be comfortable before you run credit. Yet there are cases where you underwrite and process the file only to find out merchant is in CH.11 or has a UCC from a default on their report. Wasted time and money on the lenders/brokers part working the file for nothing. Credit usually is run first (screening) in order to keep things efficient and weed out the declines. Ive never heard of getting a social security card issued recently and not being able to use it. He must of just gotten a number issued to him (became citizen) is what I get from that statement.

[iso@wallfunding]

Its rough cause I agree you should know the file and be comfortable before you run credit. Yet there are cases where you underwrite and process the file only to find out merchant is in CH.11 or has a UCC from a default on their report. Wasted time and money on the lenders/brokers part working the file for nothing. Credit usually is run first (screening) in order to keep things efficient and weed out the declines. Ive never heard of getting a social security card issued recently and not being able to use it. He must of just gotten a number issued to him (became citizen) is what I get from that statement.

100% agree. Recently we had a deal which we declined because of an open bankruptcy. The ISO asked me to confirm, because he had gotten an offer from another funder. I told him to come to me if it ended up funding, because I KNEW that it would get declined in final. That was 2 weeks ago, and I haven't heard back from the ISO.

[TedFundy]

What does it matter? The questions should be geared towards what the business is doing first. How does he sell to? What does the balance sheet and income statements look like? How is his AP? What specific kind of laboratory? How is ownership broken down? Get comfortable with the business before you pull the guys credit.

95% of people on here don't care what the industry is, who their customers are, or if the merchant has a pulse, if they have satisfactory deposits and a 506 credit score they will open their doors. That is why you see threads (like this) with insufficient information. Which leaves the merchant at the mercy of their broker's knowledge of the space.

[Kevin Henry-Seacoast]

95% of people on here don't care what the industry is, who their customers are, or if the merchant has a pulse, if they have satisfactory deposits and a 506 credit score they will open their doors. That is why you see threads (like this) with insufficient information. Which leaves the merchant at the mercy of their broker's knowledge of the space.

Knowledge=Power

[CO1]

The capacity to learn is a gift; the ability to learn is a skill; the willingness to learn is a choice.

[George]

Sounds like a perfect candidate for a term loan. Contact me George Bloom. 772-285-6711.