[Fundyman]

I have business bank statements for this business but for the past two months, the merchant has been depositing in the personal account (***although he does have a new business account open, where he shows very small deposits***)

He had to restructure the company after noticing that his CFO was screwing the entire business up. Wasn't stealing from the company, but doing a terrible job.

Since the merchant doesn't know this industry, he cannot tell that using his personal account was going to hurt his chances of getting any advance, so I explained to him that moving forward, all business deposits have to be done in the business account.
Is there a funding company out there that can work with this situation and fund him?
He does have a business account open right now; just the deposits in there are week compared to the personal.
Has Uber income as well.

Last two months were $22K & 36K.
NSFs & overdraft issues, he still has because the company is hurting still.
Needs working capital for getting a marketing team back out there to generate business.
If you think you can fund him, let me know. Send PM.

[Anthony@torro]

Sounds like a headache of a deal my man. I wouldn't waste too much time on this if i was you.

[FundingCzar]

I've funded a few deals with Everest when the business checking was open for less than 1 month (with prior deposit history of the personal account), but both the personal and business checking accounts would need to be mostly clean (Less than 5 negative days etc).

[Fundyman]

Sounds like a headache of a deal my man. I wouldn't waste too much time on this if i was you.

I know what you mean, but the guy sounds like this is important for his entire family's future. I don't want to just throw the file in the garbage as of yet...

[Fundyman]

I've funded a few deals with Everest when the business checking was open for less than 1 month (with prior deposit history of the personal account), but both the personal and business checking accounts would need to be mostly clean (Less than 5 negative days etc).

Everest wouldn't do this one. I'd be in total shock.

[TB-Commercial]

Hi there, did you try Yellowstone already? I normally don't post on very many threads, but I appreciate others giving me advice here so just thought I'd share my experience. I had a couple of deals where they were willing to use the personal account history as long as the client opened a business account after. Just my 2 cents. Dan Lenefsky is the contact I have there. You're a senior member though so you probably already know LOL. If not, hope it helps.

[AndyYSCISOdept]

No Personal Bank Statements for us at time of funding like you mentioned, if the merchant opens a business account we may consider it but its gotta be a pretty sweet deal. Thanks for thinking of us though, and Yes, Dan Lenefsky is the man, one of the best here!

[Fundyman]

Hi there, did you try Yellowstone already? I normally don't post on very many threads, but I appreciate others giving me advice here so just thought I'd share my experience. I had a couple of deals where they were willing to use the personal account history as long as the client opened a business account after. Just my 2 cents. Dan Lenefsky is the contact I have there. You're a senior member though so you probably already know LOL. If not, hope it helps.

Thanks. He has a business account opened. I must have omitted to put that in the deal description. The problem is the bulk of his deposits as of late have been in the personal account because he had to restructure the company & had no clue how to do it other than close his business account, reopen it at another bank, but in the meantime, he was depositing under his own name.

What happens with those merchants is that they don't know much about how this industry works. They have no clue whether or not a move will hurt their business or help it. But thanks a lot on the 2 cents. They were worth at least $2 in my book!