Merchant Advance for Trucking Company

gforce1 · #1 (**permalink**) 10-23-2008, 11:57 PM

I have applied with multiple merchant advance companies but keep getting turned down either because of my high ticket items or because Ive been a victim of identity theft and have negative items that arent mine reporting to my credit report which I have documentation to prove. I am tired of getting the run around and would just like to find a company who will deal with my circumstances instead of dragging me along for 3 days to sometimes a week until they tell me they cant do the advance for reasons we discussed before we even started the application process.

samthemoneyman · #2 (**permalink**) 10-24-2008, 01:19 PM

are your transactions swiped or keyed?
what's your credit score like?
do you have bankruptcies?
do you have Tax Liens?
do you have Judgments?
any credit accounts on slow pay?
do you have any charge offs on your credit?
any outstanding collections?

gforce1 · #3 (**permalink**) 10-24-2008, 09:44 PM

Our transactions are manually keyed. There are some negative things reporting to my credit report but they are not mine and I have letters from each of the creditors that specifically address that my name has been removed from their accounts.

ISEllCASH · #4 (**permalink**) 10-25-2008, 12:00 PM

I would say look at GRP they take a good look at situations rather than just numbers.

jfullen · #5 (**permalink**) 11-11-2008, 10:39 AM

We do Merchant site Inspection and I have found alot of "Trucking Companies" that are not legitamate. They say things like " I do not have an office because I'm always on the move". One time we surprised the person asking for the loan so bad that he denied even asking for a loan!! There are alot of scams out and about, so companies are cautious.

GRP Funding · #6 (**permalink**) 11-11-2008, 12:34 PM

Yah, these are hard deals to get approved. High average ticket, a physical location doesn't always exist, and the potential for charge-backs is higher than your average business.

Good luck in your searches though - I'm sure someone out there funds your SIC code.

Going directly to Experian or the other bureaus to start the process of removing the negative items from your credit report would also be a great help. The SIC is risky enough - having credit issues on top make the deal even harder.