[Wmateo]

Long shot, but I figured I'd post and see what comes up.

It's a trucking company that has been operating for 2 years. The situation is that the merchant was without a bank account for almost 3 months and the new account he uses was only opened 1.5 months ago. He uses a factor company, so the time he was without the bank account he was just cashing the checks at a truck stop and using the gas card offered by the factor. His most recent month shows 15k in deposits and an average daily balance of $1,500. No NFSs or ODs. He can provide his old bank statements. The purpose of the loan is to purchase a 2004 reefer trailer for 10k. The semi he owns is being financed by Freedom Financial.

[GMFunding]

What's his credit like? Sounds like a app only lease scenario

[LoanMe]

LoanMe can work with businesses that have at minimum a 60 day transaction history. If the account was opened 1.5 months ago, they should hit that seasoning shortly. We often also work with our partner's trucking companies. LoanMe's minimum # of deposits per month is (1). With $15k in deposits each month (depending on credit) LoanMe could be able to get this file the $10k they are seeking.

[Wmateo]

Wont work. The credit is 610 and the trailer he wants to buy is a 2001 Reefer. Thank you anyways. I just referred him to a microlender in Florida.

[Wmateo]

LoanMe can work with businesses that have at minimum a 60 day transaction history. If the account was opened 1.5 months ago, they should hit that seasoning shortly. We often also work with our partner's trucking companies. LoanMe's minimum # of deposits per month is (1). With $15k in deposits each month (depending on credit) LoanMe could be able to get this file the $10k they are seeking.

Client is in Florida. As far as I know you do not fund deals in Florida.