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  1. #1

    Start up Loans 680 fico required

    Loan Amount is based on open credit and is 10 X that. 10,000 in open credit = 100,000

    Call Joseph at 212-220-6009

  2. #2

    Business Financing for All Situations/Get 2-4 X Monthly Revenue/Brokers Welcome

    Call Joseph Romano (212) 212-6009

  3. #3
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    Company name, email, address?
    Elaboration on SIC codes its available to and ANY details on this potential "loan" would be nice...

  4. #4
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    Is joesph a lender or ISO signer or broker?

    What portals or lenders are you providing start up from and what conditions to be eligible for 30k?

  5. #5
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    To all- it's a FICO score Business Credit Card play.. All based on Unsecured Credit Card personal usage.. Definitely not ground breaking and definitely not hard to do for clients yourself

  6. #6

    **Startup Funding** by Seek Capital

    @richardGerard You are right in that the business model is not groundbreaking. That said, and respectfully, there is a lot more to it then just going and applying to banks and hoping for the best.

    It's important to recognize that the process is extremely sensitive and there are multiple minor and major factors that contribute to successfully fund a client via this channel.

    Copy and paste from prior post:

    **Startup Funding**

    Seek Capital provides funding to startups and early stage business owners.

    - Deep roots in the MCA space, servicing many MCA firms for their startup leads
    - Perform soft credit pull with all 3 bureaus (no need for client to jump through hoops to sign up to 3rd credit monitoring)
    - Automated underwriting
    - Strong internal sales team
    - Direct bank relationships for higher approvals
    - Real time reporting portal
    - Client doesn't just walk away with credit cards, Clients have the ability to transfer funds from their credit card account directly to their checking account while maintaining 0% intro rate
    - Dedicated Account Managers for each client
    - Truly a superior client experience

    For direct contact: partners@seekcapital.com

  7. #7
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    SeekCapital,

    Having done this several times (most recently last week-90K- for an existing client), I understand all of the (very few) dynamics that are associated with the process.

    Understanding which cards do not report to personal FICO, pre qualifying a client through creditchecktotal.com, and understanding how to use the cards and convert spending to cash is again something any Broker with a little time can do on their own- that has a small modicum of savvy.

    As for Bank relationships: I think that's interesting. So you're saying that banks know you're applying on behalf of others? While you likely have a power of Attorney document in place, I don't believe they like the fact that an intermediary is involved- hence the security questions on the applications, and IP address descramblers. Conversely if you have contacts at the Back office processing centers I wonder how the banks would feel about that?

    What does a strong internal sales team do?
    A Real Time reporting portal? Once you receive an email from Chase Ink, Bank Of America, US Bank, Fifth Third Bank, Wesbanco, Amex Blue, Commerce Bank, Citibank Costco card etc. do you enter it into your portal so you can tell the client- providing truly superior client experiences?

    As for a dedicated Account Manager: seriously?

    Seek Capital I get it: most of the people here on this Blog are great marketers. If you're saying, 'You focus on marketing and we will help you get the client start up capital' I understand and respect that comment. However please don't insult the intelligence of the folks here by making it tougher than it is.

  8. #8
    @RichardGerard

    Having overseen close to $100million in this kind of funding, i can assure you there is a great deal of nuances that need to be adhered to. Banks continually change their policies, underwriting standard etc and what worked 6 month ago, definitely doesn't work today. Creditchecktotal.com is a static product updated once a month. By utilizing a soft credit pull directly via the bureaus, we always have real time information. Credit reports can change over night and our team makes sure to have full visibility at all times.

    Transferring the funds from the credit card account into cash whilst maintaining the 0% intro rate is not an option for many banks and this is where experience comes into play. You are right, it's not impossible for someone to learn, but having direct access to the banks opens doors that are not otherwise available. For clarity, we don't have 'secret back door relationships' with banks, but rather formal relationships. This gives up access to special promotions and preferential treatment for our clients. There are fraudulent players in the space who impersonate the customer and simply put, this is bank fraud and not something our firm would ever be involved in.

    We receive hundreds of leads per day both from our direct marketing and partner referrals. A strong sales team is absolutely necessary to educate the prospect, show them how this is a great funding option for them as it is definitely unorthodox. To convert a lead into a sale, we can all agree to the strength of good sales people!

    When we discuss real time reporting, our referring partners have real time access to see approvals, invoiced, paid etc so they can always understand the status of leads they have referred over to Seek Capital. To work with our clients, yes, we do have Account Managers who work with their clients. When managing hundreds of active clients per month, we strive to ensure a great customer experience and make sure that information is passing both ways in real time.

    Our business is not focused on funding 1 or 2 deals. Our average partner refers 30-50 per month. Some higher and some lower. Experience and infrastructure enable us to manage this kind of work volume. "Everything is easy when you know how"

    I hope this sheds some light.

  9. #9
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    The light is officially shed.. and thanks for the education.

    As the Business Credit Card promotions relate to 0 percent interest terms and bonus points, those that have these cards have access to that information as well.

    Congratulations on your successful endeavor...
    Last edited by RichardGerard; 10-06-2016 at 07:12 AM.

  10. #10
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    Quote Originally Posted by RichardGerard View Post
    SeekCapital,

    Having done this several times (most recently last week-90K- for an existing client), I understand all of the (very few) dynamics that are associated with the process.

    Understanding which cards do not report to personal FICO, pre qualifying a client through creditchecktotal.com, and understanding how to use the cards and convert spending to cash is again something any Broker with a little time can do on their own- that has a small modicum of savvy.

    As for Bank relationships: I think that's interesting. So you're saying that banks know you're applying on behalf of others? While you likely have a power of Attorney document in place, I don't believe they like the fact that an intermediary is involved- hence the security questions on the applications, and IP address descramblers. Conversely if you have contacts at the Back office processing centers I wonder how the banks would feel about that?

    What does a strong internal sales team do?
    A Real Time reporting portal? Once you receive an email from Chase Ink, Bank Of America, US Bank, Fifth Third Bank, Wesbanco, Amex Blue, Commerce Bank, Citibank Costco card etc. do you enter it into your portal so you can tell the client- providing truly superior client experiences?

    As for a dedicated Account Manager: seriously?

    Seek Capital I get it: most of the people here on this Blog are great marketers. If you're saying, 'You focus on marketing and we will help you get the client start up capital' I understand and respect that comment. However please don't insult the intelligence of the folks here by making it tougher than it is.
    Here at Centrex Software we offer dedicated technology to run a uBlock (Credit card offering) shop and I have to agree with SeekCapital. The amount of dev we have had to do for these clients is pretty intense. The relationships and timing and analysis on when to apply, how to apply etc requires a ton of work. Great product that offers great financing solutions for borrowers with no revenue and decent credit.

  11. #11
    is loan possible for foreign citizen who is living in the country since 5 years ?

  12. #12

    Start up Loans 680 fico required

    Harry chase- needs to be a us resident other social and credit history. Hope this helps, if not feel free to pm me

  13. #13
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    Quote Originally Posted by Seekcapital View Post
    @RichardGerard

    Transferring the funds from the credit card account into cash whilst maintaining the 0% intro rate is not an option for many banks and this is where experience comes into play.
    .
    What's the cost to liquidate the cards and do you have a max liquidation amount? Will you hold any portion of the liquidated funds in escrow for any period of time?

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