Transportation Company Just Recovering From IRS Levy Needs $60K

This company used to do an easy $230K/mo (AND IS HEADING BACK THERE!)
recent IRS levy of over $150K in payroll taxes resulted in terrible business pain.

Bank statements dropped below $40K deposits in Sept because the merchant gets paid from the State so the funds never even made it to the bank account.

Right now, payment plan is in full effect. No more levy whatsoever. Merchant did over $80K last month.

Seeking $60K working capital BUT will not do 1.49s (I already tried & offered).

Credit is in low 500s but mainly due to IRS complications.

Please PM if you think you can get something done at a decent term (no 80-100 payments). Needs min 7 months.

Credit in low 500's and the merchant is attempting to dictate terms?

Merchant generated $80K Gross and wants roughly 70% of their revenue in unsecured capital?

Are they serious?

At least u didnt tell him sba loan

Quote:

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Originally Posted by golf2014

At least u didnt tell him sba loan

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In many instances an SBA Loan is a good option - Commissions are low compared to MCA, therefore an SBA is not offered
by Brokers .