Frequently Asked Questions
here are 2 different types of Funding offered.
Type 1 (MOST COMMON): FICO and Corporate Credit based criteria are:
A. 2 or more years in business at a bare minimum - no exceptions on TIB
B. Must be a brick & mortar business that is not residential or mailbox or shared office based
C. No leasing or bank loan history necessary – although having it does help
D. Must be on our approved industry list (usually any medical practice, other type of
professional, or business with some technology infrastructure). Manufacturer, Logistics,
Printing, etc.
E. Must be fully open for business (not partial or seasonal)
F. Must do at least $144,000 or more per year in gross revenue = $12,000 per month in bank deposits
G. Must not have any business bankruptcy or open judgments
H. Must not have any charge-offs or excessive late payments (60 days plus late)
I. Guarantor must have 51% + ownership and must have a 680 or higher personal FICO score
Type 2: Corporate Credit Only (No FICO Minimum & No Personal Guarantee) basic criteria are:
A. 5 or more years in business at a bare minimum
B. Must be a brick & mortar business that is not residential or mailbox or shared office based
C. Must have 2+ solid years of PayDex History showing on Dun & Bradstreet
D. Must have some prior leasing and/or bank term loan positive history showing on Equifax Business
E. Must have a high trade on Dun & Bradstreet of at least $25,000
F. Must be on our approved industry list (usually any medical practice, other type of professional, or business with some technology infrastructure). Manufacturer, Logistics, Printing, etc.
G. Must be fully open for business (not partial or seasonal)
H. Must do at least $999,000 or more per year in gross revenue (top line revenue)
I. Must have 10 or more employees showing on Dun & Bradstreet
J. Must not have any business bankruptcy or open judgments
K. Must not have any charge-offs or late payments of 30 days plus late
These criteria are always constant for both programs:
A. NO HOME/RESIDENTIAL BASED ALLOWED
B. NO MAILBOX ADDRESS OR SHARED OFFICE ADDRESS ALLOWED
C. NO NON-OPERATIONAL (SHELL TYPE) BUSINESSES ALLOWED
D. NO OPEN JUDGMENTS
E. NO CHARGE-OFFS
F. NO BANKRUPTCIES
Yes! To add a picture follow these simple steps:
Generally, most fully operational, non home based (and non-mailbox or shared office based) businesses, medical practices or professional practices grossing over $144,000 per year in gross receipts/bank deposits have a fair chance of being approved (as per the Advanced Funding underwriting (UW) criteria). There are some higher minimum revenue restrictions listed below for certain types of industries. APPROVABLE INDUSTRIES (ALLOWABLE FOR SUBMISSION) AS OF FEBRUARY 21ST, 2021 Consulting Firms Medical Billing Staffing Marketing/Advertising Publishing Technology Services/IT/Software Architects Engineering Printing Hotels Motels Gyms CONTRACTORS (INCLUDING ONLY THE FOLLOWING TYPES - NEVER HOME BASED): AC & Heating (HVAC) Commercial Construction General Contractors Residential Construction General Contractors Electricians Plumbing companies PROFESSIONALS: Accounting (CPA's & Tax preparation services) Collection Agencies Insurance Agencies Financial Planners/Investment Advisors Real Estate Companies Mortgage Companies Attorneys (all types) All licensed professionals not working with a home base or mailbox or shared office for a business address HEALTHCARE INCLUDING THE FOLLOWING: All Physician Types/All Doctor’s Offices Chiropractors Dentists Home Health Services Mental Health Services Pharmacies Physical Therapists Residential Care Facilities (can also be the residence of the owner if UW criteria is met) Substance Abuse Services Medical Diagnostic Centers MRI Facilities Dialysis Facilities Acupuncture ALSO: Veterinarians Gas Stations with Convenience Stores Auto Parts Stores Auto Body (5 plus bays minimum) Auto Repair (5 plus bays minimum) Auto Sales/Car Dealerships Towing Companies Funeral Homes Bail Bonds Security Services Vending Companies Wholesalers Manufacturing Grocery Stores (no convenience stores or gas stations & must do over 1 million per year in gross receipts/bank deposits) E-Commerce Businesses with a commercial physical location (not from home or from a UPS box or shared office) Most Retail Brick and Mortar Franchises (Subway, Dominos, Ace Hardware, etc.) Trucking (must have over 5 Units listed with DOT online and be non home based) Logistics (doing over 500K per year in gross receipts/bank deposits) Restaurants (on a case-by-case basis) Salons (on a case-by-case basis) Retail Stores (on a case-by-case basis) Cannabis with retail location _________________________________________________________________________________ RESTRICTED INDUSTRIES: WILL NOT ALLOW FOR SUBMISSION THESE FOLLOWING INDUSTRIES ARE NOT ALLOWABLE AT THIS TIME: Any Home Based/UPS Box Based/Shared Office Space Based (except residential care facilities) Seasonal Businesses Landscaping Nurseries Porn Related Tailors Roofers Painters Drywall Companies Siding Concrete Paving Handyman Food Truck Pet Groomer IMPORTANT: We reserve the right to deny the submission of any business or practice that it, using its various underwriting and credit checking resources, determines is either a fraudulent business (either not in operation, and/or a shell corporation); and/or that it determines is very likely to default for another reason or reasons that it deems legitimate.
Most clients choose the 5-year term as that provides the lowest monthly payment possible.
Clients deciding to receive Advance Funding estimate the interest costs by calculating the after-tax deduction payment costs. Depending upon what state a client’s business is located in, at the current federal corporate income tax rate of 21% combined with the state corporate income tax rate, the usual, after-tax deduction, simple interest cost will come out to somewhere between 15% to 20% per year times 5 years. Meaning; this will usually cost less than double the cash received upfront (as funding) when paid back over a 5-year period.
We do not require that the funds received by the client from the payor be used to pay back any existing MCA balances. There is absolutely no restriction on the use of these funds. The payor will only wire funds to the client’s business bank account, and never to a personal account. What the client does with those funds is totally at the client’s discretion.
Applying is simple:
A. You can use the online application under "Apply Online or Contact Us" in this website, filling out every section. Also, be sure to put the name of the person referring you. Which in this case is "Mark Baltes"
B. Attach your business’s last month’s bank statement(s) to a separate e-mail to the person referring you, Mark Baltes at mark@mpbcapitalconsulting.com
Full approvals take 1-2 business days. Then, depending upon your (the client's) responsiveness it will take another 5 - 7 business days for funding. If larger funding amounts (over $50,000) are being pursued those will require multiple transactions. Advance Funding is usually "extra funding" used as a cash infusion that is either added to a cash advance or as an alternative to a cash advance. Clients seeking funding amounts in excess of $200,000 will need other funding sources to achieve their goals. The great thing is that clients can use Advance Funding and will not have to worry about it interfering with any other funding they are seeking. If clients are seeking over $200,000, the Advance Funding Program only goes up to $200,000!!
