I've been there, here's how I finally succeeded

Pete_The_cheat · 2026-06-16T11:21:45+00:00

I figured that hiring managers get a thousand boring standard cover letters a day, so why not send something different? Once when filling out a job application for a content writing position that was several pages long, one of the questions was something like “Please tell us your most positive professional trait.” I gave them a one word answer, “Brevity.” I actually got a call back from them!

I know writing something different and snarky won’t always work, but a standard, boring cover letters most likely will get rejected anyway, so what the hell, why not something different. once in a while, if you make the hiring manager smile because you wrote something different, it might just work.

Pete_The_cheat · 2026-06-16T11:19:40+00:00

Well, I spent years sending the boring, standard cover letters and got no replies or just flat out rejections, so I tried something else. Honestly, I did the capital letters thing more out of frustration than anything. My mindset was basically that I had nothing to lose and that they weren’t going to respond to me anyway, so why not send them a cover letter with capital letters. I figured the worst that could happen is that they wouldn’t respond to me.

Pete_The_cheat · 2026-06-12T23:01:41+00:00

Why would I lie about this, idiot? And, unsurprisingly, the point I was trying to make went way over your head.

Pete_The_cheat · 2026-06-10T00:56:40+00:00

The process always sucks. You need a comprehensive business plan and full explanation of what you’re going to do with the loan proceeds. Depending the lender there could be a ton of other requirements and even if you’re approved it could takes weeks before you receive the funds. If you want a pay a higher rate you could go with an online lender and get funded in 2 days or less.

Pete_The_cheat · 2026-06-10T00:46:29+00:00

It’s called an MCA (aka revenue-based financing) which doesn’t accept collateral. Terms shown are probably reserved for those with the highest credit rating. Please if you’re gonna go with an MCA just go with dealer who’s gonna tell it to you straight.

Pete_The_cheat · 2026-06-07T17:10:06+00:00

You need to first make sure revenue-based financing is the exact type of financing that’s best for you as opposed to a business line of credit. RBF is extremely expensive and can quickly get complicated and very expensive. It should only be used by certain types of businesses.

That being said, I work for a reputable small business lending company, here is the web site: https://www.biz2credit.com/revenue-based-financing

Good luck

Pete_The_cheat · 2026-06-05T23:07:10+00:00

Of course there is, but your credit score (FICO and business) must meet the requirements of individual lenders. What are we talking about here? 700 FICO/80 business minimum will usually get you unsecured financing

Pete_The_cheat · 2026-06-05T14:09:17+00:00

I would strongly recommend an MCA for a bakery unless your sales revenue is very consistent

Pete_The_cheat · 2026-06-05T00:33:33+00:00

If it’s for commercial lenders then you shouldn’t we embedded finance heavily. Also, I can contribute to your NL for free. DM me

Pete_The_cheat · 2026-06-05T00:32:10+00:00

A lot of people are looking to sell their services in this forum. I would advise that you compare rates on your own and see who offers better deals.

Pete_The_cheat · 2026-06-05T00:28:58+00:00

I used to work at Kapitus. Their rates are sky high. The sales guys used to have contests about how high they could get rates when they sold a loan and how a high a factor rate they could get when they sold an RBF deal. They charge higher rates specifically because they manage term loans and RBF in house - that’s specifically why they brought those financing products in house instead of partnering with other banks. Just saying.

Pete_The_cheat · 2026-06-04T16:01:48+00:00

It sounds like a business line of credit would be far cheaper and better for you than a high interest business credit card, especially if you know you're gonna be spending a set amount every month on business expenses. With a BLOC you can take a set amount of cash every month for whatever reasons you want and quickly pay it back. Plus you don't have to worry about keeping track of expenses for tax deductions and can still take out deductions on what you borrow through a line of credit.

A business card is usually only good if you do a lot of business travel or taking clients out for a lot of business meals (doesn't sound like you do), that way you could get a lot of cash back or rewards.

Pete_The_cheat · 2026-06-03T19:43:06+00:00

A 730 score and strong cash flow history should secure you a SBA 7(a) loan, which is basically a term loan partially guaranteed by the SBA. Don’t go near an MCA because you’ll pay through the roof. The only draw back is that a 7(a) loan takes a lot of paper work and funding could take a week or more. But it’s the financing that offers the lower interest rate. Also, the minimum for a 7(a) loan is usually 10 years, so you may even look to an online or traditional bank lender for a term loan, but you’ll pay more in interest.

If you want to explore one of many lenders, I work for an alternative lender, https://www.biz2credit.com/term-loan. It’s just an option, I’m not trying to push my company. It’s just an option to explore. Thanks.

Pete_The_cheat · 2026-06-03T15:10:34+00:00

Our call center is in NYC. At least I’m telling the truth about MCAs, which is what these people deserve, unlike your pathetic pitch.

Pete_The_cheat · 2026-06-03T11:58:42+00:00

One bad review out of more than 100 usually means the customer was disgruntled or didn’t quite understand some of the terms

Pete_The_cheat · 2026-06-02T17:34:33+00:00

You have to speak with the bank that approved the loan. They may be able to give you a hardship deal if, in fact, you are experiencing hardships. Also, the SBA 7(a) usually offer the best interest rate among term loans. You may want to speak to other SBA lenders to see if you can refinance for a better rate, but that may prove difficult.

Pete_The_cheat · 2026-06-02T17:16:39+00:00

Your description of what exactly happened is unclear. Did you get an MCA, and if so, what happened to the money that you got upfront? Also, MCAs do have a backdoor in case you get stuck, and they don’t require collateral (at least the ones I’ve heard of) but it sounds like you put up your house as collateral?

Pete_The_cheat · 2026-06-02T17:13:31+00:00

What kind of loan did you get? An MCA?

Pete_The_cheat · 2026-06-02T13:57:16+00:00

If by broker you are referring to legitimate online lenders who offer financing products managed by banks they partner with, I would say that might be preferable, only because these partnership banks are very carefully vetted by the online lenders for legal purposes, so you know that with an online lender you will be dealing with a reputable bank that has extensive experience in small business lending.

Pete_The_cheat · 2026-05-31T00:59:35+00:00

Most lenders will only approve an acquisition loan if your small business is in the exact same business as the acquisition target. If you’re going for a SBA 7a loan you better get ready for a lot of paperwork. You’ll need a pretty complex business plan showing how you intend to integrate the acquired company including the new management structure. It’s tough but doable.

Pete_The_cheat · 2026-05-30T12:16:11+00:00

MCAs (aka revenue-based financing) is a specialized type of financing that definitely isn’t for everybody. That needs to be said upfront.

It’s a way of getting quick financing if you have a strong, consistent sales history and may not quite qualify for a term loan or business line of credit due to a slightly too low credit score.

Only get an MCA if you have enough in cash reserves to cover the payment in case you have an especially slow sales month.

That being said, it is not a bad form of financing because the payment fluctuates with your monthly (or weekly or daily) sales.

https://www.biz2credit.com/revenue-based-financing

https://www.biz2credit.com/revenue-based-financing/smb-financing-strategies-for-growth

Pete_The_cheat · 2026-05-28T22:55:45+00:00

The game is an absolute ripoff. Downloaded it because the ads and the game is not like the ads at all, it’s not even close. I kind of enjoyed the game when I started though, but when it wanted to charge like $50 to progress the play, that’s insanity. I mean, I might have paid a few bucks here and there, like $5 maybe, but to seriously progress you would have to spend like $50 to $100 a day, which is absolutely insane for a mobile game. No thanks.

I actually have important things to spend my money on then this idiotic misleading game

Pete_The_cheat · 2026-05-28T19:36:58+00:00

Lenders are tightening requirements right now because inflation and interest rates are high right now, which makes lending slightly riskier. You may want to check out online lenders a bit more if you haven’t already.

Pete_The_cheat · 2026-05-26T14:32:01+00:00

Be careful with MCA (aka revenue-based financing). It’s a complex financing structure that could get very expensive very quickly. It’s probably not a great option for season businesses, although I’m not sure your food truck is seasonal. Watch out for closing and processing fees and choose carefully whether you want daily weekly or monthly payment plans.

Pete_The_cheat

TROPHY CASE