Funding someone who defaulted a year or so ago with solid statements

**Pbs** · 12-20-2016, 07:58 PM

I have a few merchants who defaulted on a tier 1 lender over a year or more ago. He has a solid business and is looking for a decent deal. Averages about 50k plus monthly daily balance average $3000 more daily its a landscaping business

**HDF** · 12-20-2016, 08:51 PM

Let's see, CAN UCCs?

**gail_waters** · 12-20-2016, 09:07 PM

Originally Posted by Pbs

I have a few merchants who defaulted on a tier 1 lender over a year or more ago. He has a solid business and is looking for a decent deal. Averages about 50k plus monthly daily balance average $3000 more daily its a landscaping business

I had someone like that, he told me he had defaulted on 2 advances over 6 months ago and can gave me numbers and funded smoothly but can't exactly send to can now

**vr0** · 12-20-2016, 09:47 PM

I have a strong deal, same scenario, defaulted 2 months ago on 2'nd position. Is settling account. Pays 1st position like a champ, strong 100k+, where can I go with this. Thanks

**channin19** · 12-21-2016, 02:00 AM

Is this merchant comfortable with a 1.49 over 60 payments and a COJ? No? Would you syndicate ?

**AaronC** · 12-21-2016, 12:03 PM

I can get these types of files funded for you. If shoot me an email, I'll be happy to get an ISO agreement out to you.

**Funder Mark** · 12-21-2016, 12:05 PM

Originally Posted by AaronC

I can get these types of files funded for you. If shoot me an email, I'll be happy to get an ISO agreement out to you.

What's wrong with your website? Doesn't seem to be working..

**ridextreme** · 12-21-2016, 12:10 PM

Originally Posted by Pbs

He has a solid business and is looking for a decent deal. Averages about 50k plus monthly daily balance average $3000 more daily its a landscaping business

what makes this such a "Solid business"? What do you know about it other than his last few months bank statements?

A business who defaults on a loan is not so "solid". lmfao

**WestCoastFunding** · 12-21-2016, 12:23 PM

Originally Posted by ridextreme

what makes this such a "Solid business"? What do you know about it other than his last few months bank statements?

A business who defaults on a loan is not so "solid". lmfao

Lol. A business that defaulted before, yet still looking for more advances? Solid!

**FCG** · 12-21-2016, 12:24 PM

Why would you fund a merchant that defaulted ? They don't care about you, They're just going to do it again.

**bdshaw** · 12-21-2016, 03:12 PM

Defaulting on an advance has minimal affect on factoring their receivables. if they would qualify for factoring we can usually work with other borrowers to get a first lien position and help them get paid while providing the client with a credit line.
Bob Shaw
rshaw@ironhorsecredit.com
734-929-3800

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