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  #1 (permalink)  
Old 02-08-2010, 02:13 PM
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Default Bank Statements

Anyone know if there are any lenders still out there that don't ask to see the business bank statements on a merchant?
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  #2 (permalink)  
Old 02-08-2010, 07:09 PM
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Quote:
Originally Posted by finadv View Post
Anyone know if there are any lenders still out there that don't ask to see the business bank statements on a merchant?
Yes....

The ones that closed shop......
or you can find them at the blackjack table.....
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Old 02-08-2010, 08:46 PM
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Default 1st Merchant

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Originally Posted by finadv View Post
Anyone know if there are any lenders still out there that don't ask to see the business bank statements on a merchant?
1st Merchant funds with no bank statements
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Old 02-08-2010, 09:38 PM
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every funder reviews bank statements not only to assess gross deposits but to see if competitors are currently deducting from merchants bank account or cc sales. this is basic for the industry
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Old 02-09-2010, 08:18 PM
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Quote:
Originally Posted by MCA is New To Me View Post
1st Merchant funds with no bank statements
They don't pull credit either. That's because they specialize in small starter advances that get paid off in 2 months or so. For a regular advance, a lender would be nuts not to check the bank statement.
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Old 02-15-2010, 07:46 AM
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Quote:
Originally Posted by goldenarm View Post
They don't pull credit either. That's because they specialize in small starter advances that get paid off in 2 months or so. For a regular advance, a lender would be nuts not to check the bank statement.
They don't run credit?
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Old 02-15-2010, 06:02 PM
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Quote:
Originally Posted by GRP Funding View Post
They don't run credit?
Pretty much none of the starter programs run credit. But that is why the merchant gets 10-30% of processing average in a 1-3 month deal
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Old 02-15-2010, 09:10 PM
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Fordwarline does not look at business bank statments.. but it doesnds like the merchant has nsf all over the places,, chnanes his fico is weak.
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Old 02-15-2010, 09:20 PM
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how do they know if a merchant does or does not have alot of NSFs if they dont look at the bank statements? also, how do you know what impact the retrieval % will make on the merchants gross sales if you dont verify bank statements/gross deposits?
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Old 02-16-2010, 07:31 AM
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your telling me that ForwardLine is throwing out those 1.15, 7 month offers without looking at bank statements?? How do you measure NSF's without seeing a bank statement?

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Originally Posted by crusanken View Post
Fordwarline does not look at business bank statments.. but it doesnds like the merchant has nsf all over the places,, chnanes his fico is weak.
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