Merchant averaging $35K but has less than 10 deposits per month. Recommendations?
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  1. #1
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    Merchant averaging $35K but has less than 10 deposits per month. Recommendations?

    Clean statements, doing about 5 to 10 deposits per month. Merchant is contractor doing $35K monthly.

  2. #2
    Sounds like Quickbridge all day regarding deposits and industry. LoanMe also has minimum deposit requirements of 1 a month but can only do certain states.

  3. #3
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    Umm everyone?

  4. #4
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    Quote Originally Posted by FundingCzar View Post
    Umm everyone?
    How do you figure? 10 batches/transactions at least are needed per month. $35K on a total of 5 to 10 deposits (sometimes less) is a huge risk when some of those don't go through for the month.

  5. #5
    We do anything over 5 monthly deposits.

    PM me and we can get the ball rolling.
    Last edited by boundbygravity; 10-03-2016 at 02:57 PM.

  6. #6
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    Quote Originally Posted by Quickfunder View Post
    How do you figure? 10 batches/transactions at least are needed per month. $35K on a total of 5 to 10 deposits (sometimes less) is a huge risk when some of those don't go through for the month.
    Quickfunder I wasn't being literal my apologies. While 10 transactions a month is definitely preferred, I personally know of over 20 funders that will do 5+ monthly, even in the construction industry. Quickbridge/Bizfi/credibly would be my first stops for this file based on what else you mentioned.

  7. #7
    Member Reputation points: 262 John_FMS's Avatar
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    Quote Originally Posted by Quickfunder View Post
    Clean statements, doing about 5 to 10 deposits per month. Merchant is contractor doing $35K monthly.
    I will get an approval. What is the merchant looking for regarding rate, term, etc.? -OR- What did you sell him on?
    John Yanity
    352 Sonwil Drive | Buffalo, NY 14225
    Direct Funder


    Mobile (716) 710.1289
    Fax (888) 848.0109
    Email (john@fundingmerchantsource.com)
    http://fundingmerchantsource.com/

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    http://www.bbb.org/losangelessilicon...each-ca-268003

  8. #8
    Yes, depending on the state, this would be a good file to send LoanMe.
    LoanMe Business
    949-535-7798
    Email: Business.Loans@LoanMe.com




    www.loanme.com/SBL-partner
    1900 S State College Blvd. Suite 300
    Anaheim, CA 92806

  9. #9
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    Ive funded 220k on 3 deposits per month, send it to capify, viking, quarterspot, Can, anyone really, arf

    I can get you a 1.07 buy rate! call me, same day funding for full package, 2 days maxs if delays on stips.

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