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11-10-2016, 09:30 AM #1
Reputation points: 7360
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Fundnow - I am a direct funder and do a LOT of consolidations.
I'm not a cash advance company so things operate a lot differently. The client has a monthly payment (not daily) and they can pay off any time after six months with no fees, penalties or interest.
We underwrite differently and do not make our decisions based upon bank statements, negative days and NSFs. My minimum funding is $100k and the client would need minimum monthly net income (not deposits but actual net income after all expenses, including paying himself) of about $13k. This would be five percent or less net margin, based on what you say this client's gross monthly sales are.
Please feel free to reach out.
Best,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
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