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04-14-2017, 02:47 PM #1
- Join Date
- Mar 2017
- Posts
- 13
What merchant funds a business that uses personal bank account
I have a client who has the following:
a 687 fico score
Sole prop business
7 years in business
average of $12,000 a month in deposits
*only problem is that the funds go into her personal checking account.
Who can Fund this?
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04-14-2017, 03:13 PM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,977
Does he/she have their DBA listed on the account?
Do they EIN#?
Type of Business?
**Note - For people that are requesting assistance on deals, including your Name & Phone Number would be appreciated.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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04-14-2017, 03:30 PM #3
- Join Date
- Feb 2016
- Posts
- 243
Thats usually how a sole prop is ran .. they can use their SSN as their EIN#
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04-14-2017, 06:02 PM #4
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,977
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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04-17-2017, 01:58 PM #5
- Join Date
- Jun 2014
- Posts
- 541
The problem with personal accounts is the NACHA chargeback rules that allow for 90 days of chargebacks, unlike a business account.
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04-17-2017, 04:43 PM #6
- Join Date
- Feb 2016
- Posts
- 243
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04-14-2017, 04:06 PM #7
What merchant funds a business that uses personal bank account
But that doesn't mean they can not get a business account-
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04-19-2017, 11:19 AM #8
- Join Date
- Jul 2015
- Location
- Tampa Florida
- Posts
- 502
Just funded a sole prop last week that uses personal bank account.
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
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