Results 1 to 5 of 5
-
11-03-2016, 07:58 PM #1
- Join Date
- Nov 2014
- Location
- Fort Lauderdale, FL
- Posts
- 66
Limited bank statements situation
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.Last edited by Wmateo; 11-03-2016 at 09:23 PM.
William R. Mateo
Mateo Capital Group
Tel: (954)802-2833|Fax: (888)860-1508
http://www.mateocapitalgroup.com
Supporting Common Sense Financing!
-
11-04-2016, 10:50 AM #2
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
What's his credit like? Sounds like a app only lease scenario
-
11-04-2016, 07:02 PM #3
- Join Date
- Nov 2014
- Posts
- 438
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.
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
-
11-05-2016, 03:15 AM #4
- Join Date
- Nov 2014
- Location
- Fort Lauderdale, FL
- Posts
- 66
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.
William R. Mateo
Mateo Capital Group
Tel: (954)802-2833|Fax: (888)860-1508
http://www.mateocapitalgroup.com
Supporting Common Sense Financing!
-
11-05-2016, 03:16 AM #5
- Join Date
- Nov 2014
- Location
- Fort Lauderdale, FL
- Posts
- 66
William R. Mateo
Mateo Capital Group
Tel: (954)802-2833|Fax: (888)860-1508
http://www.mateocapitalgroup.com
Supporting Common Sense Financing!
Similar Threads
-
No Bank Statements
By Zach in forum Deal BinReplies: 16Last Post: 05-16-2016, 11:06 AM -
Funding without bank statements
By Oxforddan in forum Merchant Cash AdvanceReplies: 13Last Post: 09-20-2015, 11:56 AM -
Need MCA with bad bank statements
By sigmundpannu in forum Deal BinReplies: 5Last Post: 09-01-2015, 10:59 PM -
Question: Bank Statements
By 1StopFunding in forum Merchant Cash AdvanceReplies: 5Last Post: 06-09-2014, 12:33 PM -
Fishy Looking Bank Statements
By Scott Williams in forum Merchant Cash AdvanceReplies: 14Last Post: 05-27-2014, 04:11 PM