Pls Recommend - No deposit count minimum
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  1. #1
    Senior Member Reputation points: 16767 fundinggrasshopper's Avatar
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    Pls Recommend - No deposit count minimum

    Clean cleaning service nothing derogatory on business or personal background the only issue is there is only one deposit per month of 75-85k. Commercial contract receivables. Balances are good, 1st position, abundance of room for a weekly payment. What good paper funders nowadays do not have a deposit count minimum?

  2. #2
    Senior Member Reputation points: 71496 Olderguy's Avatar
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    So why not do A/R factoring if he has contract receivables?

    Can be funded in 2-3 weeks from start.

    I am doing one now for a security guard company.

    Costs them 1.25% - 1.5% a month give or take. No other fees.

    Whats the use of funds...just W/C or do they need equipment?
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  3. #3
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    Quote Originally Posted by fundinggrasshopper View Post
    Clean cleaning service nothing derogatory on business or personal background the only issue is there is only one deposit per month of 75-85k. Commercial contract receivables. Balances are good, 1st position, abundance of room for a weekly payment. What good paper funders nowadays do not have a deposit count minimum?
    Only Funders come to mind are expansion EBF CFG

  4. #4
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    Single debtor concentration and small.... I would suggest a local factor. You would need to check if the prospect is pre-billing customers for service. Many cleaning services bill at the first of the month for that month's service. This can be difficult to factor if the invoices are pre-billed regardless of the contract language.
    Kevin Henry
    VP-Business Development
    Seacoast Business Funding, a division of Seacoast Bank
    561-850-9346
    Kevin.Henry@SeacoastBF.com
    1880 N Congress Ave., Suite 404
    Boynton Beach, FL 33426

  5. #5
    Senior Member Reputation points: 71496 Olderguy's Avatar
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    Reach out to her and see if she can help.

    Nancy Kalman| Senior Business Development Officer
    United Capital Funding
    401 North Michigan Ave, Suite 1200, Chicago, Illinois 60611
    (312) 560-7600 - Cell
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  6. #6
    Senior Member Reputation points: 10476
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    Quote Originally Posted by fundinggrasshopper View Post
    Clean cleaning service nothing derogatory on business or personal background the only issue is there is only one deposit per month of 75-85k. Commercial contract receivables. Balances are good, 1st position, abundance of room for a weekly payment. What good paper funders nowadays do not have a deposit count minimum?
    If the file makes sense i might give an offer. If they get paid by one source by have several clients that can help. Feel free to reach out to me.

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

  7. #7
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    credibly
    Griffin Ferro
    Dynamic Funding
    Cell:631.487.5696

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