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  • Immediate 2nd Position MCA approval needed by High Risk Lender

    Looking for a high risk lender that can approve and fund a merchant for a 2nd position:

    I have a horse ranch that Was funded by BizFi 1 year ago- C/C split. He was using a tour booking company named "Zerve" that did his marketing/bookings and also did his credit card processing. They suddenly went out of business and caused the merchant among many many others major issues. His revenue took a dive and no longer having a processor caused issues with BizFi.

    He worked out a new term to pay off the $65,000 to BizFi at $100/week because his future was uncertain. He has made all payments since the refi with BizFi and revenue has been increasing. He's now on the upswing averaging $30k-$65k/month.

    I just got him approved for $20,000 at a $26% holdback (uses Wells Fargo for processing now) but by a 1st position lender and we didn't realize until the merchant interview/funding call. So the deal died in final underwriting

    Any 2nd position lenders want to link up with me and take a crack at this?

    He's a solid merchant with healthy banks, no negative days and consistent credit card revenue.

    Look forward to hearing from you, thanks!

    Mike

  • #2
    Just shot you a PM
    Jason Florio | Director of ISO Relations
    United Business Funding
    O: (631)468-8909 C: (631)569-6557
    JFlorio@ubfunds.com

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    • #3
      Immediate 2nd Position MCA approval needed by High Risk Lender

      MFS GLOBAL FUNDS

      ANY SIC | ANY FICO | ANY POSITION

      * Up to 200% of monthly bank deposits
      * 14 Month Term
      * Funds Deposited Every 6 Weeks
      * Same Day Commission
      * 20% Up Front & 10% On Going
      * NO BUY RATE - 1.38-1.42 FACTOR
      * Open Bankruptcies & Judgements are Okay!

      Min qualifications are as follows:

      - 6 Months in Business
      - 10k per month in Deposits
      - 10 Deposit per month Minimum
      - No more than 5 NSF per month on Avg.
      - Not more than One Month Behind Rent

      Http://newiso.mfsglobal.com

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      • #4
        We can do that send me an email
        John DiCanio

        Managing Member

        Office: 516.916.5663
        Cell: 631.538.8324
        www.directmerchantfunding.com

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        • #5
          I can help

          Have the merchant fill out his info here http://apply.merchantloanservices.com thanks

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