6 months in business with good bank statements !!!!!
Need a Funder or Vendor? START HERE

Results 1 to 13 of 13
  1. #1

    6 months in business with good bank statements !!!!!

    Currently have a client that is a LED distributor in biz 6 months looking for max cash to grow.....

    Over last 4 months with 660 Fico

    Avg Deposits 86K
    Avg 20+ deposits per month
    Avg daily balance 16K
    Avg Ending balance 16K
    0 Neg and 0 NSF

    Can anyone provide appx 75k? pref over 12 months?

    Let me know thanks...

  2. #2
    Senior Member Reputation points: 9546
    Join Date
    Jun 2016
    Posts
    416

    Quote Originally Posted by jeffcapital View Post
    Currently have a client that is a LED distributor in biz 6 months looking for max cash to grow.....

    Over last 4 months with 660 Fico

    Avg Deposits 86K
    Avg 20+ deposits per month
    Avg daily balance 16K
    Avg Ending balance 16K
    0 Neg and 0 NSF

    Can anyone provide appx 75k? pref over 12 months?

    Let me know thanks...
    I would think he will qualify for 25k over 4 months with us.

  3. #3
    Senior Member Reputation points: 3217 CO1's Avatar
    Join Date
    Apr 2013
    Location
    New York
    Posts
    644

    6 months in business with good bank statements !!!!!

    Bizfi?

  4. #4
    Veteran Reputation points: 158919 J.Celifarco's Avatar
    Join Date
    Oct 2012
    Location
    New York
    Posts
    2,505

    Quote Originally Posted by CO1 View Post
    Bizfi?
    Doubt they go out longer then the TIB. 12 month deal for 6 months in business is going to be tough anywhere
    Last edited by J.Celifarco; 12-14-2016 at 01:32 PM.
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  5. #5
    PM'ed you my info.

  6. #6
    Senior Member Reputation points: 54977
    Join Date
    Dec 2013
    Posts
    4,713

    Mantis /Cresthill capital would come out strong on this kind of file...we love short term in busienss merchants (they perform better then over 1-2 years in business.


    KEEP IN MIND:
    AS OF TODAY -- we are loosening underwriting standards on files UNDER 30K (from 4K+) in-monthly deposits...you will see much faster approvals few(er) stips and most importantly contract to funding will be in lightening speed! we have a new department only focusing on getting those files funded ASAP...try it out!! and would be happy to hear feedback on how the new process worked for you!!
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
    覧覧覧覧覧覧覧覧覧覧覧覧覧
    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  7. #7
    Member Reputation points: 18
    Join Date
    Dec 2016
    Location
    New York
    Posts
    30

    Does the merchant have any assets?

    Does he process credit cards?

  8. #8
    Senior Member Reputation points: 32550 Funder Mark's Avatar
    Join Date
    Sep 2014
    Location
    NYC
    Posts
    1,437

    Quote Originally Posted by mcaguru View Post
    AS OF TODAY -- we are loosening underwriting standards on files UNDER 30K (from 4K+) in-monthly deposits...you will see much faster approvals few(er) stips and most importantly contract to funding will be in lightening speed! we have a new department only focusing on getting those files funded ASAP...try it out!! and would be happy to hear feedback on how the new process worked for you!!
    How many departments do you have at this point???

  9. #9
    Senior Member Reputation points: 54977
    Join Date
    Dec 2013
    Posts
    4,713

    Quote Originally Posted by Funder Mark View Post
    How many departments do you have at this point???
    If you are OK with giving $5 Bucks to a charity of my choice for evrey "salaried employee" we have I will tell you the number of employees the outcome will result in the following: 1) a nice letter of thanks from the charity 2) we are larger then you have imagined and last but NOT least a hugh Mitzvah ! (and perhaps a tax write-off depending on your income/ if your accountant uses a standard deduction, etc),
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
    覧覧覧覧覧覧覧覧覧覧覧覧覧
    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  10. #10
    Senior Member Reputation points: 8447
    Join Date
    Jul 2015
    Location
    Tampa Florida
    Posts
    492

    We can do it if they qualify and are open to CC split deal
    Jason H l Sales & Business Development
    Quikstone Capital Solutions l Tampa FL
    Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
    Jason.Hausle@quikstonecapital.com
    www.quikstonecapital.com


    Direct Lender Since 2005

  11. #11
    Quote Originally Posted by jeffcapital View Post
    Currently have a client that is a LED distributor in biz 6 months looking for max cash to grow.....

    Over last 4 months with 660 Fico

    Avg Deposits 86K
    Avg 20+ deposits per month
    Avg daily balance 16K
    Avg Ending balance 16K
    0 Neg and 0 NSF

    Can anyone provide appx 75k? pref over 12 months?

    Let me know thanks...
    LoanMe offers simple interest term loans with no pre-payment penalties. We can most likely get this borrower a 120 month term, making the minimum monthly payments low and affordable (something a 6 month-old business could use). Once they begin to churn a good profit from these funds they can pay off the loan early with no pre-payment penalties. Interest accrues and is only charged for the time they keep the funds. Even with a 120 month term, if they pay off in 12 months, (from an interest perspective) they only pay 12 months worth of interest.

    Our minimum TIB requirement is just (2) months so this sounds right up our ally.

    Please contact us at 949-535-7798
    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

  12. #12
    Hey Jeffcapital,

    I would really like to work with you on this please give me a call and we can discuss further about this potential client. My direct line is 212-271-8286. Email jweinberg@wbl.com
    We can build a good business relationship for this loan and any other you may have. I work for a direct funding company, World Business Lenders.

  13. #13
    Hey Jeff,

    My company Lucrative Solutions can definitely get this deal done if you would like us to work on this please contact me directly.

    Joey Ganduzzo
    Vice President
    (917)434-7663
    Submissions@slsadvances.com

Similar Threads

  1. Replies: 7
    Last Post: 11-22-2016, 12:19 PM
  2. Low Deposits/Good statements
    By MikePhilipsGCC in forum Merchant Cash Advance
    Replies: 4
    Last Post: 10-31-2016, 03:31 PM
  3. Replies: 6
    Last Post: 10-02-2015, 02:33 PM
  4. Replies: 6
    Last Post: 03-26-2015, 01:30 PM
  5. Foreign Business with US Bank Statements
    By mca123 in forum Deal Bin
    Replies: 3
    Last Post: 02-10-2015, 11:51 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Lendica partners w/ EBizCharge
Pipe plans to fund $1B to SMBs
URBN partners with Stripe


DIRECTORY