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Best advise is referring to a good tax accounting attorney that knows their industry and is local. The prospect may get advise/help because of the attorney's local connections.

This all day long.

Great suggestions: May I add that companies may know their products but most don't know how to run their business finances. Before you review and consider all these alternatives, you need a financial business plan and that's what missing with today's businesses. Business need a remote CFO to be an ongoing partner to guide them through their options. A remote CPA at $25 an hour is the best investment any company an secure. Then they aren't being pushed by some broker or another to take some financial product because it can get them quick money or make the most money for the broker which is the norm nowadays. Here: https://form.jotform.com/240650559658466 They will want to see the following: PLEASE MAKE SURE TO BRING THE FOLLOWING:: BOOKKEEPING/JOURNAL ENTRY SOFTWARE PAYROLL SOFTWARE BUSINESS CHECKING ACCOUNT(S) – VIEW ONLY BUSINESS CREDIT CARD(S) – VIEW ONLY PERSONAL CREDIT CARD(s) – VIEW ONLY Initial consultations are free. In addition, there are other funding options available to a new business that most brokers wouldn't normally have any awareness. Personal loans 80% of gross income with a monthly payment, 3+ years, great rates Business credit card - I got a trucker $69,000 doing $11,000 a month HELOC - home equity line of credit....go to a local credit union Asset based loan....Have a truck or other asset free and clear? Hard money real estate loan - investment property....1% a month interest only fixed for 10 years. As mentioned - SBA Micro Loan - up to $50,000

PUBLIC SERVICE ANOUNCEMENT Anyone soliciting business on a post like this is who not to submit your files to

Hi Davis3003, There are a lot of non-bank finance companies that might be able to help a company that is fairly new. The key to finding the right partner for the prospect is understanding their need. Typically commercial cleaning businesses struggle with working capital which is probably the issue here. The largest expense and need for working capital is likely payroll which in most cases is weekly. They likely have contracts with customers and bill for either time and materials or a fee for services monthly. When they invoice the customer the terms are net 30 at best. That being said, the prospect is floating 8 weeks of payroll before they get paid by the customer. Since out of the gate they are billing $75K/Month they are off to a great start and probably have potential to grow. Here are some thoughts on products out there: -SBA- They are great, but do not revolve to cover the consistent need. SBA loans also don't grow with the customer's needs. If they obtain a small SBA loan, what are they going to do when the funds are exhausted AND they still have to meet payroll needs. -LOC-Most banks will not consider a LOC due to time in business. Some non-banks may offer a LOC, BUT that product does not revolve to keep pace with the constant working capital need UNLESS the business consistently pays the loan down when they get paid by customers. Paying down the loan usually does NOT happen. It is also a process to get an increase on the LOC as the company grows or the loan gets tapped. -Factoring-This might be the best tool for their needs. The facility revolves around the invoicing and payments. Most factors will quickly adjust the line limit as the AR grows. This prospect would be too small for us, but you might be able to find the right partner by researching the International Factoring Association's website. Most reputable factors are members. I would research factors that are local to the company AND may be bank owned. There are over 30 bank owned factoring companies in the US and usually are MUCH more cost effective than non-banks. TIB should not be an issue. -MCA The company's gross margins are likely less than 25%. That being said, can they really afford the MCA cost. Also, MCA is truly not revolving which may stifle the growth of the company. Just some thoughts....

We have been consistently funding credit card sales based MCA since 2005. Our product is far better for merchants as the remittance fluctuates with their sales. We don't double dip on renewals; meaning the merchant nets the full renewal amount instead of paying the existing balance from the renewal amount. We don't charge any origination fee or other junk fees. If you want to build a long term portfolio and care about your merchants Quikstone is an excellent choice.

credibly

SBA has a start up micro loan program up to $50,000 https://www.sba.gov/funding-programs/loans/microloans

Four months in business, credit card card sales based MCA only.

Fundkite does this, as do all MCAs that are credit card splits. The broker gets paid, the funder has to realize that the deal might go sideways for a bit, but there is no true default if the revenue drops. The only challenge would be the client who commits fraud and opens a second bank account and deposits certain deposits into that account and slowly depletes the other one without the funder noticing. You can probably catch that, since it's not so easy just to change bank accounts. You case is not a "default out of the gate", it's a drop in revenue. We pray underwrite assuming the past performance is indicative of future results. There's no "seasoned" merchant who can really do this. They'd have to lie to get away with it, and then prove it. How would they make it a "regular strategy" without actually losing their own revenue? That seems counterproductive to reduce their income. How could they control that?

Mitch Petracca?

Yes. I would love to learn more.

A host of questions: -Is this an asset purchase of the business or a stock purchase of the business? -Are they seeking a cash flow loan or asset based loan using the business assets as collateral? -What Industry? -What equity contribution is the buyer contributing? -Is the seller staying with the business? Are they using a seller's note? -What is the purchase price?

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left you a voicemail

Capybara Capital .... Email me for info ....currently one of the fastest growing funders --Focusing on the A-Minus-To-C+Paper..with ability to compete on length and $-Amounts! and lower factor/Buy-Rate to win ---Dolphins & Whales is what we are known for by the largest brokerage shops who sub to Capybara daily!

If it was a restaurant, I just got an offer for a $250k 1.45 over 24 months line of credit and was competing with a $100k 1.35 over 16 months MCA. Happy to make the introductions, please send me an email mmarkowitz@abfunders.com

Reach out..I can do 90% LTV loan.

Lending Valley can take a look at it. We'd require 100k minimum gross along with 4 trucks and 4 drivers to issue an approval. Let's touch base and discuss this in more detail before you submit

Unfortunately, most of the top tier lenders in the industry are putting out offers on the higher end of their rate threshold due to the current economic climate. Rates are high across the board and those higher rates are passed down to lenders from their credit facilities. I see a lot of A paper lenders come back with sell rates close to 1.50 for their 18 month product. Anyone who has been in this industry for any amount of time knows that if a business is in a cash flow pinch that it will be much more beneficial for them to pay a higher rate (closer to 1.50) for an 18 month program as opposed to anything in the 1.30 - 1.40 range that would most certainly cap out at 12 months. The lower payment is what will ultimately help this client the most. It does seem like you have had a few declines for this merchant at other shops. I would like to say that we may be able to come in at a lower rate for an 18 month cost, but I would certainly need more information. Also, how many points are built into that 1.54 offer?

agreed if their credit supports a personal it is definitely the better route.

East Shore, Cooper Asset, Greenbox Capital,

UCC = Zero

I can help. even with 5 months in business, I can get him on my platform and give him our add-on renewals that work like a line of credit to help them not have to stack and put the business in further risk...call or email me

We fund trucking - 2nd+ Email me - Jacob@mnycapital.com