Results 1 to 8 of 8
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02-27-2023, 12:32 PM #1
- Join Date
- Sep 2021
- Location
- South Florida
- Posts
- 6
1st position used car dealership!
Hey everyone we got declines across the board from everyone we fund with. 1st position rev over the last year fluctuates from 200k-1m no mca history. Was declined by some for background, but mostly just because nobody will do a 1st for this industry.
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02-27-2023, 12:42 PM #2
- Join Date
- Oct 2022
- Location
- Long Island
- Posts
- 53
What was the backround issue?
Ben K
Fratello Capital
Direct Funder
Underwriting@fratellocapital.com
www.fratellocapital.com
212-464-8108
NO ORIGINATION FEES!
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02-27-2023, 12:56 PM #3
- Join Date
- Sep 2021
- Location
- South Florida
- Posts
- 6
Nobody indicated but based on what i could find online it's just domestic violence with his ex wife like 10 years ago and a lawsuit from a credit card company that was settled
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02-27-2023, 01:18 PM #4
There could be more in the background.
No one's touching dealers, car notes are going bad left and right. Banks are making it harder to get approved.
Furthermore if they have floorplan financing and sales are fluctuating dramatically, who do you think the Merchant will default on first?
Yeah, nobodies touching it right now.The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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02-27-2023, 01:27 PM #5
- Join Date
- Feb 2023
- Location
- New York
- Posts
- 7
Please send me an email. I'd like to discuss with client. Thanks!
Lily Taylor,
Funding Director
image.png
| Office | (646) 582-8933
| Cell | (917) 470-2274
| Fax | (888) 894-3518 or (212) 706-0117
| Email | LMartin@ProsperumFunding.Com
8 West 36th Street, Floor7 | New York, NY 10018
ProsperumFunding.Com
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02-27-2023, 02:25 PM #6
- Join Date
- Mar 2018
- Posts
- 13
We can fund Used Car dealers but its all going to depend on the extent of the background issues, feel free to email me or call/text for more info 339-293-4551, eramirez@prioritycapital.com
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02-27-2023, 03:21 PM #7
- Join Date
- Nov 2019
- Posts
- 662
We do first position car sales. But we go off of the tax return revenue and not the bank deposits due to high cost of goods. We also cap at 6 months but we do true add ons that work kind of like a line of credit.
Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872
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03-02-2023, 08:32 AM #8
- Join Date
- Mar 2022
- Posts
- 33
ADVANCE: $5,000- 500k (note we do take our time with offers beyond $100,000)
Buy rate: B paper 1.35-1.38/ C paper 1.37-1.40/ D paper 1.40 MAX UPSELL 1.50
Term: B paper 80-125 days/ C paper 45-100 days/ D paper up to 80 days(mainly for higher rev files)
Defaults? On C- And below with payment history! And satisfied
Restricted Industry/ Trucking/ Micro construction, legal firms, financial services, house flippers.
Restricted states/ CA/VA/UT/OH/NC
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