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  1. #1

    Lightbulb Slow Pay???

    Does anyone know of a lender that will fund a merchant that slow paid an advance in the past?
    Solid revenue ($50k+ monthly), ok credit but restructured an advance back in 2015

  2. #2
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    Quote Originally Posted by KingCapBoom View Post
    Does anyone know of a lender that will fund a merchant that slow paid an advance in the past?
    Solid revenue ($50k+ monthly), ok credit but restructured an advance back in 2015
    I do. The question is did the payback amount go down or did they just stretch out the term? If the latter, you are good to go. Assuming its a good file otherwise.

  3. #3
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    if they paid off ..good chance will fund your client and of course pay a double digit commission with (too) few stips (for my liking ) but got to make it easy on the hard working ISO's!
    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

  4. #4
    I can get this done as long as they didn't default on them, we aren't looking at 2015 statements here. If there is a UCC filed we will look into that though. If you are not already set up with a rep over here at Yellowstone, please feel free to reach out.
    Anthony
    Senior Funding Coordinator
    Anthony@fundersconnect.com
    Direct: 201-523-2596
    Fundersconnect Is An Approved Vendor of Delta Bridge Funding Products

  5. #5
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    If you mean "reduced payments" I've seen EBF do this on a file where the reduced payment was 3 months back. This was a 2nd position.

  6. #6
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    Quote Originally Posted by Anthony@yellowstone View Post
    I can get this done as long as they didn't default on them, we aren't looking at 2015 statements here. If there is a UCC filed we will look into that though. If you are not already set up with a rep over here at Yellowstone, please feel free to reach out.
    You aren't looking at 2015 statements but are you checking Datamerch to kill the deal?

  7. #7
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    Quote Originally Posted by WestCoastFunding View Post
    If you mean "reduced payments" I've seen EBF do this on a file where the reduced payment was 3 months back. This was a 2nd position.
    With knowing that or not realizing?

  8. #8
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    Quote Originally Posted by Michael I View Post
    With knowing that or not realizing?
    They had to know. It was right there. Figured they were cool with it because is seasonality.
    Last edited by WestCoastFunding; 03-09-2017 at 07:32 PM.

  9. #9

    Slow Pay???

    We don't use datamerch, never even heard of it. What I said in my previous post was that if the merchant ultimately paid in full and didn't default, I can get this done pending current revenue, balances, etc. If it did happen to get killed on funding it won't be because we went back to look at 2015's statements.
    Last edited by Anthony@fundry; 03-10-2017 at 12:10 AM.
    Anthony
    Senior Funding Coordinator
    Anthony@fundersconnect.com
    Direct: 201-523-2596
    Fundersconnect Is An Approved Vendor of Delta Bridge Funding Products

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