Results 1 to 8 of 8
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04-17-2014, 05:18 PM #1
- Join Date
- Apr 2014
- Posts
- 2
Any "Corp-Only" Working Capital Lenders?
Hello,
I'm new to the forum. Having lurked for a bit, it's been helpful.
The only lender I have found that sometimes won't require a PG is Business Backers. Anyone know of any others?
Thanks in advance.
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04-17-2014, 07:11 PM #2
You have to define "Personal Guarantee"...as ALL FUNDS have a performance guarantee in their contracts (so the merchants don't get slick and divert sales to alter payments)
FYI...the Guaranty is on page TWO of the Business Backer Receivables agreement. You might want to take a look
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04-17-2014, 08:16 PM #3
- Join Date
- Apr 2014
- Posts
- 73
You can't even get credit card processing without signing a guarantee.. I doubt any company would give you a cash advance without it.. that would be insane.
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04-17-2014, 10:42 PM #4
- Join Date
- Apr 2014
- Posts
- 2
Thanks for the reply guys. I haven't personally done a deal with BB yet. Looks like I was misinformed by my credit manager.
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04-18-2014, 11:43 AM #5
- Join Date
- Apr 2014
- Posts
- 1
Any "Corp-Only" Working Capital Lenders?
Yes, we at kedma capital do not require a personal guaranty. Folberg@kedmacapital.com
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04-22-2014, 09:36 AM #6
Read through agreements. The mca agreements should have personal performance guarantees listing specific performance covenants and the loan agreements have strong pg language and some have collateral blanket ucc language as well. Don't go off what a rep or admin tells you as sometimes they might not even know or may not have read the contracts
Last edited by MCAVeteran; 04-22-2014 at 09:39 AM. Reason: Added-
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04-24-2014, 04:20 PM #7
- Join Date
- Apr 2014
- Posts
- 64
MCA (merchant cash advance) and ACH (automated clearing house) funding do not require a personal guarantee. The funded amount will generally be 10-15% of yearly sales based on credit history. The term is generally 3 to 18 months.
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04-24-2014, 08:30 PM #8
- Join Date
- Apr 2014
- Location
- New York
- Posts
- 274
A lot of companies have personal guarantees. This is a fact.
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