[brokerCompany]

Need a direct funder for a 2nd position. Construction. revenues declined by half due to winter and coming into busy season.

150K monthly. Need a 6-9 month term.
Not interested in 1.4+
They currently average 150k monthly

[Ehenek]

If they have Equipment, AR, Contracts, or Real Estate and Cashflow then I may help.

[SBF]

How long in business and what state?

[Olderguy]

A second position on seasonal business is the worst option with high factor rates and daily payments. I realize that is the mindset of most here but please consider looking at options that an offer monthly payments at much lower rates and payments.

Cash out on equipment....maybe 20% and 3 years+ (fund in a week)
Hard money real estate 1% a month interest only.
Personal loan might be 12% monthly payment.
As Elon mentoned A/R aging financing, cash from contracts are also better choice options.

[brokerCompany]

Thanks we have explored those other options we just need a 2nd position for this merchant. He has 740 credit and does not want anything tied under his personal name.

[abfunders]

I love the concept that somehow an MCA isn't tied to his personal name but a business loan is... They think that they are not personally liable if something goes wrong with an MCA but on a business loan they immediately come after the house and the car

[davidstar]

Star Capital does
David Geller
9177632069
david@starcapitalny.com


STAR CAPITAL NY
STARCAPITAL-NY.COM
1771 51ST
BROOKLYN N.Y. 11204

[Olderguy]

Thanks we have explored those other options we just need a 2nd position for this merchant. He has 740 credit and does not want anything tied under his personal name.

There is a signature loan where the business/assets can be attached.

A personal guarantee loan, the lender can come after personal assets.

I think there is some confusion about this. Explain it to your borrower.

You can do cash do cash out equipment as a signature loan and not a personal guarantee.

[Chambo]

Need a direct funder for a 2nd position. Construction. revenues declined by half due to winter and coming into busy season.

150K monthly. Need a 6-9 month term.
Not interested in 1.4+
They currently average 150k monthly

NO WAY you are getting$150K as a second, when they average $150K. Also depends on what the first position offer was. 99% of funders out there will NOT offer more money or longer term on a second.

Unless they are willing to go the invoice factor or SBA route (but those sources are going to want to have 1st pos on UCC, so they would look to buy out whatever is already out there), 1.4+ rates are what are going to be offered across the board

[brokerCompany]

I was not asking for 150k MCA, that is what his current monthly deposits ar 150k monthly. Invoice Factoring, equipment financing not a fit for the merchant. Also they just did not want a loan that showed up under personal credit inquiry or as a debt on the personal credit.
If he get over 1.4 on a 2nd then we sell it. Just wanted to know who does the 2nds positions on seasonal type business.
Thanks for all those who responded we are well aware of the other options that are out there but they dont work for this merchant

[Lmonus]

I was not asking for 150k MCA, that is what his current monthly deposits ar 150k monthly. Invoice Factoring, equipment financing not a fit for the merchant. Also they just did not want a loan that showed up under personal credit inquiry or as a debt on the personal credit.
If he get over 1.4 on a 2nd then we sell it. Just wanted to know who does the 2nds positions on seasonal type business.
Thanks for all those who responded we are well aware of the other options that are out there but they dont work for this merchant

150k avg rev 2nd position sounds like a deal most funders would love to price and fund. Why is there an issue placing this deal? Are Balances bad? Did they just take funding last week? Seems like an easy to fund file no?

[brokerCompany]

150k avg rev 2nd position sounds like a deal most funders would love to price and fund. Why is there an issue placing this deal? Are Balances bad? Did they just take funding last week? Seems like an easy to fund file no?

Decline in revenues. they were doing 350k monthly. seasonal they will be back to work with similar deposits starting next month

[closer129]

Need a direct funder for a 2nd position. Construction. revenues declined by half due to winter and coming into busy season.

150K monthly. Need a 6-9 month term.
Not interested in 1.4+
They currently average 150k monthly

If they are truly seasonal get me a years worth of statements and i might be able to fund them. There is a possibility they can qualify for our adjustable ach so the payment does not hurt them in the slower months. This being a second position and you want 6-9 months the rate can be around 1.34-1.40 depending on credit and how far out we go. Most funders will be in the same range because it is a stack position. Reach out to me if you like.

Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872

[Lmonus]

Decline in revenues. they were doing 350k monthly. seasonal they will be back to work with similar deposits starting next month

Grab 12 months statements so you can show the "In Season" rev - this seems doable to me.

[simonwein12]

For me- I only get really aggressive on construction with strong AR/Contracts.

[ADiamond]

I love the concept that somehow an MCA isn't tied to his personal name but a business loan is... They think that they are not personally liable if something goes wrong with an MCA but on a business loan they immediately come after the house and the car

Well to be fair a MCA technically cannot be personally guaranteed, but a business loan can. Whether or not a MCA company tries to enforce the "guaranty of performance" is another thing but you and I both know those never work. They can be sued personally, will it stick? Eh.

I'll tell you what I love...

I love how brokers come up with a CONSTRUCTION DEAL fresh off a winter revenue decline and think they're going to get a deal priced @ 100% of the current monthly average revs IN SECOND POSITION, TOO. Heh.

Also: "not interested in 1.4+, need 6-9 months.." Heh, heh...

That would have to be one IMMACULATE construction deal in every aspect otherwise to get any offer close to that request.


I think you brokers should start setting your client's expectations upfront instead promising them the world then forcing the funders/lenders to get the deal closed for you on their offer structure. Know what you're dealing with, know your market, know how to navigate it.


Chambo back from the dead?

Have a good weekend!!!

[brokerCompany]

Well to be fair a MCA technically cannot be personally guaranteed, but a business loan can. Whether or not a MCA company tries to enforce the "guaranty of performance" is another thing but you and I both know those never work. They can be sued personally, will it stick? Eh.

I'll tell you what I love...

I love how brokers come up with a CONSTRUCTION DEAL fresh off a winter revenue decline and think they're going to get a deal priced @ 100% of the current monthly average revs IN SECOND POSITION, TOO. Heh.

Also: "not interested in 1.4+, need 6-9 months.." Heh, heh...

That would have to be one IMMACULATE construction deal in every aspect otherwise to get any offer close to that request.


I think you brokers should start setting your client's expectations upfront instead promising them the world then forcing the funders/lenders to get the deal closed for you on their offer structure. Know what you're dealing with, know your market, know how to navigate it.


Chambo back from the dead?

Have a good weekend!!!

I love when UW thinks they know every deal because they look at deals everyday. Experience is great but not everything. This market is always changing and some funder will take the deal. We dont force deals just have to present them. I appreciate some reaching out. We got it done at the terms the merchant needed.

[BR-Nightmare]

I love when UW thinks they know every deal because they look at deals everyday. Experience is great but not everything. This market is always changing and some funder will take the deal. We dont force deals just have to present them. I appreciate some reaching out. We got it done at the terms the merchant needed.

I can second Anthony here.

We look deeper into these deals daily. Experience is not everything, but it is the biggest trait needed.

Yes, some funder will take the deal, but at a 1.40 or higher.

[brokerCompany]

I can second Anthony here.

We look deeper into these deals daily. Experience is not everything, but it is the biggest trait needed.

Yes, some funder will take the deal, but at a 1.40 or higher.

Not true. we got it done under 1.40 with comm.

[FLORIDAMAN]

Not true. we got it done under 1.40 with comm.

Was the funder named after a various fruit or vegetable? Im sure the funder would appreciate the shoutout on this one

[MCA-VET]

Capybara Capital can be a option.

[jacobovernightcapitalllc]

overnight winning these files give me a call

[brokerCompany]

thanks we got this one funded weeks ago. We are staying with our funder who did it