[WestCoastFunding]

I will publicly admit that consolidations are very difficult, for many of the reasons that Carl mentions above. We ask for a lot of stips (which annoys some brokers but it is the only way we can truly find out what is happening with the client

Business and personal tax returns, previous and YTD financials, schedule of liabilities, AR & AP, personal financial statement. I'm assuming you'd need those. Anything else you guys use? Is there a specific DSCR target for consolidations? I can never quite figure out what a lender looks for in these.

[dpFund]

Business and personal tax returns, previous and YTD financials, schedule of liabilities, AR & AP, personal financial statement. I'm assuming you'd need those. Anything else you guys use? Is there a specific DSCR target for consolidations? I can never quite figure out what a lender looks for in these.

Thanks for the question.

Here are the pre-qual docs we request:

1. P&L and Balance Sheet for 2014, 2015 and 2016 YTD (Actual Financials please, NOT tax returns. Quickbooks printouts are fine)
2. Expected Gross Revenue for the remainder of 2016 and 2017 (topline sales only)
3. Debt Schedule (attached) listing ALL debts for the business
4. Six months bank statements (more if you have them)
5. A brief description (a paragraph will do) about the client’s business and what they are seeking
6. Client Application
7. Credit (if you have it)

If it moves forward and we issue a proposal, we ask for more. But these docs allow us to determine if it is a fit for our funding model.

Thanks,

Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com

[RickyR3712]

Caveat Emptor with Powerup, I had a 100k account with them that they later funded a second and third time for 120K and refused to pay me as ISO. Also I thought Breakout was taken over(?) Actually had to turn Powerup over to a collection atty.

did you get your money or still crying over it ?

[RickyR3712]

If they don't particularly like the home they are living in, call WBL.

haha pretty funny . i wonder what their defaults numbers are like and how many people actually lost their properties.

[dpFund]

did you get your money or still crying over it ?

Not sure why you think it is funny that a broker got burned by a lender and had to hire a collection agency?

[John Galt]

Not yet and a 12K commission is worth fighting over (as I am). Power up (Charlie Mayo) are scams. Nature of this beast. Used to it and sue at will.

[RickyR3712]

Not sure why you think it is funny that a broker got burned by a lender and had to hire a collection agency?

i never said its funny . It was a serious question . All of us have been burnt by lenders and moved on as we were told that we will never win . so hence my question seeing if he was still crying /not getting over it or he was successful and now we brokers can open the floodgates and sue the lenders that did it to us .

[John Galt]

I'll be glad to refer you to the atty handling it. PM me. I seldom get burned and in the end if there are assets that I can lien, collect.