Results 1 to 7 of 7
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04-30-2017, 06:41 AM #1
- Join Date
- Jul 2016
- Posts
- 6
160K in annual revenue but revenue is in Paypal account
I have an online food services business with $160,000 in annual revenue and growing looking for funding. They have no outstanding positions currently. They currently take and hold most of their revenue via PayPal and only transfer funds to their operating account as needed to pay their bills. Tried to submit to ondeck but they didn't like that most of their revenue was being held with Paypal. Any suggestions on how to proceed with this one? Any funders out there that we can work with to get this done. Thanks
- D
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04-30-2017, 09:34 AM #2
- Join Date
- Feb 2017
- Posts
- 3,463
PayPal working capital, but you'll have some difficulty getting broker points on that one.
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04-30-2017, 01:20 PM #3
Sounds like it could be a good deal ya got there, Nycmaxfun. I've run into this situation many times and the numbers were also great but when I brought it up to the underwriter it was the PayPal that he turned down so I basically had to just move on and tell the guy that there was nothing I could do to help. And it's definitely good to hear that there is a company out there that does work with PayPal so I appreciate your response as well, abfunders. The way it sounds, it doesn't really sound like it's worth it but hey if you've got a good deal like that and that company can get it done. Then definitely more power to you. This is another reason why I love this forum because I've had at least what I thought good deals. killed only based on the fact that all of their business was through PayPal but now hearing that at least there is a company out there that does it kind of makes you feel a little better about it and maybe there's a chance so again I really do appreciate your comment on that. And nycmaxfund I really do hope you get this deal funded. And it would also be really cool if you came back and posted the outcome and if everything worked out cool. Thank you in advance and again, good luck brutha
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04-30-2017, 01:33 PM #4
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,996
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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04-30-2017, 03:10 PM #5
- Join Date
- Apr 2014
- Posts
- 781
Matrix 1 are u working for yellowstone...Dwayne ?
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04-30-2017, 05:45 PM #6
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04-30-2017, 05:51 PM #7
I had to scroll back up and read through the thread again LOL I take it Dwayne is also against the PayPal deals as well. I've come across some really great deals and that's all they used is PayPal unfortunately because of that a lot of really great deals have just fallen to the waistside and there is just no reason business should be lost like that.
Last edited by Matrix1; 04-30-2017 at 05:53 PM. Reason: Misspelled word
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