Need $20,000.00 for 7 days

Discussion in 'Off Topic Discussion' started by 1911gobang, Nov 14, 2013.

  1. 1911gobang

    1911gobang Sponsor

    Joined:
    Aug 1, 2011
    Messages:
    4,065
    Location:
    Stedman, NC
    This is probably a long shot, but I am under the gun facing a 12/15/13 deadline on a pretty big project, and, as fate would have it my bank put a 7 business day hold on a rather large deposit (large for me anyway), which is their SOP for big checks. That will give me about 20 calendar days with daylight getting shorter and shorter to dismantle a 600' tower that still has to be completely stripped. Awesome sauce.... :/

    I don't want to get into the short and curlies of this, but I need to purchase a couple pieces of equipment and pay my guys their project start money.
    On the 25th of November, the check clears and all will be well in the universe, and the $20G will be returned in cash...

    I don't know if we have any independently wealthy people on here, or maybe a banker or financier, but if anyone can help me move this project along, I would greatly appreciate it, and I will offer $1,500 of Tarheel Targets' products.

    This will be a discrete event, by the way. No need to PM me. My direct email is tarheeltargets@gmail.com.

    Here's hoping....

    Sent from my DROID RAZR HD using Tapatalk
     
  2. John Connor

    John Connor Terminator terminator

    Joined:
    Nov 26, 2010
    Messages:
    4,649
    Location:
    Moscow, ID
    If I had it in the bank it would be yours man.
     
  3. 1911gobang

    1911gobang Sponsor

    Joined:
    Aug 1, 2011
    Messages:
    4,065
    Location:
    Stedman, NC
    I know bro...you're a good man and we gonna miss the hell out of you!! :(

    Sent from my DROID RAZR HD using Tapatalk
     
  4. bigfelipe

    bigfelipe Lifetime Member

    Joined:
    Aug 29, 2009
    Messages:
    6,724
    Location:
    Raleigh
    I'll second what Will said. If I had it you would have it my friend.
     
  5. 1911gobang

    1911gobang Sponsor

    Joined:
    Aug 1, 2011
    Messages:
    4,065
    Location:
    Stedman, NC
    Thanks, Phil...
    We honestly have the best group of people on this forum. I am honored to be a part.

    Sent from my DROID RAZR HD using Tapatalk
     
  6. bigfelipe

    bigfelipe Lifetime Member

    Joined:
    Aug 29, 2009
    Messages:
    6,724
    Location:
    Raleigh
    Too bad we're a bunch of broke asses... ;-)
     
  7. majicmike

    majicmike Club Subscribed

    Joined:
    Apr 21, 2012
    Messages:
    2,642
    Location:
    Angier
    20k just as well be 20 million for me. Hopefully someone can come through,,,,I have a NIB Colt M4 and a Sig Scorpion that can be used as collateral if someone has the money,,That would be 10%
     
  8. fieldgrade

    fieldgrade Lifetime Member

    Joined:
    Dec 12, 2012
    Messages:
    6,970
    Location:
    S.W. Wake County, NC
    Your bank has the leeway to waive that hold at the branch level if they are so inclined. The nature of my past business was to be paid in those sums, just not frequently, and because I had a history with the bank they would waive the hold on request in the branch.
     
  9. bigfelipe

    bigfelipe Lifetime Member

    Joined:
    Aug 29, 2009
    Messages:
    6,724
    Location:
    Raleigh
    Not as easy as it used to be. Sometimes they can verify funds and shorten it or drop the hold the minute funds clear instead of the full wait, but it varies bank to bank. No one would wave the hold without the account covering it or at minimum verifying funds(which some banks won't do).
     
  10. fieldgrade

    fieldgrade Lifetime Member

    Joined:
    Dec 12, 2012
    Messages:
    6,970
    Location:
    S.W. Wake County, NC
    Wachovia would waive the holds on request in the main Cary branch where I did my banking. I haven't made deposits like that in about 18 months, but I don't think it has changed in that time frame. Of course they are Wells fargo now.

    I never kept enough funds to cover that in my account because I learned 10 years ago that business accounts don't enjoy the same protections and coverages that consumer accounts enjoy, so I would move money out of the business account into a personal account because of those protections.
     
    Last edited: Nov 14, 2013
  11. Madmardigan

    Madmardigan Lifetime Member

    Joined:
    Feb 11, 2012
    Messages:
    5,770
    Location:
    Gaston County
    I don't carry that much loose. Everything I have is invested.
     
  12. 1911gobang

    1911gobang Sponsor

    Joined:
    Aug 1, 2011
    Messages:
    4,065
    Location:
    Stedman, NC
    This^^^
    I don't have $25G in the account to cover it. Not even a third of it...
    I'm going to the bank in the morning to see if they can do anything.

    Sent from my DROID RAZR HD using Tapatalk
     
  13. fieldgrade

    fieldgrade Lifetime Member

    Joined:
    Dec 12, 2012
    Messages:
    6,970
    Location:
    S.W. Wake County, NC
    Wachovia would waive the hold and I never kept enough funds to cover it, per my reasons above. I did this 5-8 times a year for ten years until maybe two years ago, and that is only because I haven't had the deposits to make recently.

    Edit: The only extenuating circumstance could have been that I kept enough to cover the checks in a personal account, but the deposits were made in a seperate biz account for my "S" corp that was its own entity.
     
    Last edited: Nov 14, 2013
  14. captcave

    captcave Club Subscribed

    Joined:
    Jun 3, 2008
    Messages:
    1,914
    Location:
    jacksonville
    If you've been doing business with the bank, and have a good history, just explain that if they can help you, you'll be looking to find a bank that will.

    Then see if you can open a personal credit line. (if you own any property, have a house, decent credit you shouldn't have a problem.) I got one in 2 days, non-secured, on just a signature.
     
  15. 1911gobang

    1911gobang Sponsor

    Joined:
    Aug 1, 2011
    Messages:
    4,065
    Location:
    Stedman, NC
    Usually, I'm not under such a tight time constraint. I routinely deposit $5K-$15K and don't mind the holds.

    The deadline and needing equipment is what I am wrestling with now.

    Sent from my DROID RAZR HD using Tapatalk
     
  16. fieldgrade

    fieldgrade Lifetime Member

    Joined:
    Dec 12, 2012
    Messages:
    6,970
    Location:
    S.W. Wake County, NC
    Understood. The reason I had to have the holds waived was because I often worked deals that required I cut a check to a partner for 1/2 on the same day I received payment. Maybe things have changed, but I would ask. I think you'd be surpirsed what leeway they have. I know I was the first time they waived it on a $25K deposit with the stroke of a pen.
     
  17. SlayerNut

    SlayerNut Lifetime Member

    Joined:
    Oct 12, 2010
    Messages:
    4,823
    Location:
    Cary, NC
    I resemble that remark!
     
  18. grayster

    grayster New Member

    Joined:
    Jan 27, 2012
    Messages:
    100
    Location:
    Myrtle Beach, SC
    There is no law that regulates the necessity of a hold on deposits, only the amount of time that it can be held, for non business accounts anyway. If you have deposited to a business account, which I am assuming, then you're at their will. As mentioned earlier a talk with the local branch manager is in order. With your previous large deposits you have a good case, and if the check is from the same drawer then you're in excellent shape with your request to release the funds.
     
  19. mekender

    mekender Lifetime Member

    Joined:
    Aug 11, 2007
    Messages:
    12,835
    Location:
    CLT
    I hate to even suggest it because they are such a rip off... But this may be a perfect situation for a car title loan.

    Or, do you have any equipment you are not using right now that you could pawn? Hell a pawn that short may only be a tiny fee comparative.
     
  20. toddje

    toddje Staff

    Joined:
    Apr 23, 2009
    Messages:
    5,293
    Location:
    SW Wake County, NC
    You need someone who does factoring. I keep thinking I should get into that business, but it would involve me having money, which I usually dont...
     

Share This Page