Forums: Discussions for entrepreneurs and small business.

Salhdi,

I would like to learn more about thesnaploan.com.  I visited their website. Did you meet their credit score requirement? The reason I ask is that one of our three scores is below 675, so I didn`t think they could help us.

I`d like to hear more about what they were able to do for you.

Thanks!

Advaweb

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www.whats4dinnerinc.com
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Hello Adaweb
  
    I believe my company can help you with your  business lines of credit needs. All you need to qualify for a line of credit is a credit score of 680 and a business. No minimum time in business required.Please give us a call at  877 700-7151. Check out our website at www.myfinancefinders.com

Cash Advance Programs are for businesses that cannot go into a bank for a traditional business loan.  If the cash advance will generate profits for you, then go for it.

 

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Dave Lambert
FC Financial L.L.C.
Tel 727-233-1111
http://www.fcfpayment.com
dave@fcfpayment.com

Hi,

What exactly is factoring, in this case?

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Doug Atherton
Regional Vice President
Equity Corporate Finance, Inc.
DouglasA@equitycorpfinace.com
888-498-8999 ext. 109

Hi

About two weeks ago, I submitted a loan to www.thesnaploan.com.  According to the information I received, if you have a credit score lower than 675, you only need to ensure that you do not have an discrepancies or bankruptcies on your credit report, for the past seven years for the latter.

According to thesnaploan.com, they use a different program for businesses in this situation.  However, they do consider them.

I`ll let you know if I`m approved.  They claim to have a fast response time.  I am at about two weeks, and a bit anxious to see the outcome, I might add.

Thanks for the info Salhdi!

 

Actually, there are dozens of cash advance companies out there, and they all have different criteria for funding.  Some of the more established companies can mold a plan more specific to the business at hand.  While 1 year in business is a generally accepted practice, it is not the rule.  You can usually go as high as $50,000 without requests for tax returns as well.  Meaning, you should do your homework on the different companies out there.

I work for 2nd SOURCE FUNDING, and we work with 7 different Merchant Banks.  To anyone who doubts the viability and size of the industry, we are currently funding between $10 and $15 million a month to merchants in all 50 states.  We usually ask for the last couple months of bank statements and merchant processing statements, so we can assess the business as a whole and how your income is broken down.  In some cases, we will forward you to one of our banks for a more traditional loan vehicle (though 650+ FICO scores and P&L`s are required).

Realistically, you can expect to pay  between 25%-40% on the money.  Refinancing options are available to merchants who pay on schedule.

In summary, this business is evolving and you should apply to more than one company to see who will offer the best terms.  Also be cognizant of the fact that in most (but not all) cases, you will be required to switch your credit card processing company.  Make sure your rates are not hidden and the fees inflated.

If you would like to learn more, feel free to contact me

Brian A. Baron
Executive Funding Specialist

877-700-7947 # 1912
877-699-9017 fax

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Easy, Delicious , dinners at your fingertips on the busiest of nights. We do everything for you, you just pick up the dinners , or you can come in and assemble 8-12 dinners in under 2 hours for a months worth of stress free dinners.
www.whats4dinnerinc.com
631-656-9775