Results 1 to 6 of 6
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11-09-2016, 06:53 PM #1
- Join Date
- Dec 2015
- Posts
- 51
Consolidation
Have a deal which is doing 250k-350k monthly. Took out 3 positions in September. Looking to pay them all off. Totally balance from all 3 is around 80k
Please let me if you can do it. Thanks
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11-09-2016, 08:08 PM #2
- Join Date
- Jul 2014
- Posts
- 22
Industry ? How many negative days in last 3
Months ?
Who's the 3 pos with ?
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11-09-2016, 08:52 PM #3
- Join Date
- Jul 2014
- Posts
- 196
Consolidation
If he took 3 out in September what's going to stop him from stacking right after they are paid off? If he couldn't get what he was looking for on 1 deal he will stack again. What if he paid off 1 MAYBE 2 and netted additional funding. That's more realistic.
347-492-1801
Mike@samsonfunding.com
VP ISO relationsLast edited by MikeC524; 11-09-2016 at 08:55 PM.
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11-10-2016, 09:30 AM #4
- 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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11-10-2016, 11:50 AM #5
- Join Date
- Aug 2016
- Posts
- 25
Pm'd
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11-11-2016, 01:49 PM #6
- Join Date
- Jun 2016
- Posts
- 416
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