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06-23-2016, 11:01 AM #1
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,466
Thanks for the responses given even though there was limited information given about the Company, but enough to point those who know what they are doing in the right direction to make a recommendation. Given limited information and I would always want to see the documents and I mean ALL of them I would likely propose the following:
-Worse case $5mil factoring facility and include the inventory. The inventory facility will grow as the company has the ability to cycle cash faster.
-Better Case: ABL facility using AR and Inventory in the borrowing base. Utilize the equipment if there is a need for extra liquidity.
Most important..... A company of this size and dynamics should NOT be paying more than 11% on a annualized basis for access to secured capital. Anything higher there is either something very ugly in the weeds, the advisor does not know who to call, or the lender does not have access to cheap cost of funds.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
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