Results 1 to 4 of 4
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03-20-2017, 08:13 PM #1
Can ANYONE beat an 18 month OnDeck 1.37 - 60% PAID - Ready to Renew With Better Terms
I still need a home for this deal. Client can renew with OnDeck right now, they're basically knocking on this guy's front door ready to give him a deal.
Here's where he's at:
125k ONDECK Loan - Purchase Amount of 172k - 1.37 Factor
18 Month Term - Daily Payment of $457/day
HE IS 58% PAID OFF - 159 Payments Left - $73,142.40 Outstanding balance
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COMPANY DETAILS:
-Children's indoor party center, bounce house rentals
-9 years in business
-EXP - 678
-TRANS - 671
-EQUI - 710
-Sept - 72k
-Oct - 91k - 3 neg day
-Nov - 85k
-Dec - 75k - 4 neg day
-Jan - 96k
-Feb - 78k - 1 neg day
-200k in commercial equity (1.2MM building)
-2014 Gross 894k (+39k Profit)
-2015 Gross 905k (-27k Loss)
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Can someone offer me anything better? Breakout or Quarterspot can't get there, big fan of both banks but they will only give me something comparable on a mere 18 month, this guy won't jump banks just to jump banks. OnDeck will incentivize him on the renewal of course. dpFund has a perfect structure that would be ideal for this client, but the company had that small loss last year, and they're just under 1MM annually.
I need some guidance here, can anyone get this deal done?
Thanks,
Eric Douglas Statzer
Statzer Consulting, Inc.
100 S Ashley Dr Suite 600
Tampa, FL 33602
305.746.1470
eric@statzerconsulting.com
https://www.linkedin.com/in/ericdouglasstatzer
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03-24-2017, 01:06 PM #2
BFS would beat this, or liftforward
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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03-24-2017, 01:16 PM #3
BETTER terms than 18 month 1.37? The merchant better go try HSBC or CHASE
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03-24-2017, 04:13 PM #4
- Join Date
- Apr 2015
- Location
- Florida, First MCA sold in 85/ WS in 76. CFP/RIA, series 3,6,7,8,10,63,Ins218,220.
- Posts
- 554
Iou does the same 1.33 15 mos, 1.37 18 mos with 8 % comm. on their vip plan with weekly pay. Just got an announcement.
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