[Will Sanio]

- Am working 10 Year old Construction Co
- Roughly 3 Deposits per Month
- Deposits $250K per month.
- Texas
- General Contractor, Roads, Highways, Buildings

Having it reviewed through existing relationship(s), though
if anyone feels strongly this could very well their program, feel free
to reply. The customer is motivated now.

Thanks,

[TedFundy]

An MCA is the death of all GC's. But then again- any GC that is stupid enough to take on an MCA shouldn't be in business anyways.

Talk to him about the subcontractors he is hiring. If they are in need of funding (which they clearly are if they are working for a GC who needs financing), then we can factor his subs at no cost to him. Or the your client, the GC, could offer a 5% discount to pay the subs early and we only charge 3%; therefore netting the GC an additional 2% on the project.

[ridextreme]

An MCA is the death of all GC's. But then again- any GC that is stupid enough to take on an MCA shouldn't be in business anyways.

Talk to him about the subcontractors he is hiring. If they are in need of funding (which they clearly are if they are working for a GC who needs financing), then we can factor his subs at no cost to him. Or the your client, the GC, could offer a 5% discount to pay the subs early and we only charge 3%; therefore netting the GC an additional 2% on the project.

LOL are you an MCA Industry hater?

what about paying for supplies? Payroll? and other expenses he needs to fund an upcoming job that he won't get paid on for months? Usually they're paid in 6 months anyway so short term funding works great for them.

[Blazkin]

You tried MCA (which changed to 3 deposits and loves construction) and National funding

[fromano590]

knight

[Accord Business Funding]

Accord allows a minimum of 3 deposits a month and funds construction businesses. Was this the same deal you submitted yesterday Will? If it is then it was declined on our end for sub 500 credit and open judgment. If it's a different deal, send it over.

[TedFundy]

LOL are you an MCA Industry hater?

what about paying for supplies? Payroll? and other expenses he needs to fund an upcoming job that he won't get paid on for months? Usually they're paid in 6 months anyway so short term funding works great for them.

Ok....... Supplies are on a paid when paid basis in construction. If they are not for this GC, he needs to talk to different suppliers rather than get a costly MCA. And Payroll? He is a GC; therefore, he hires subs and has little or no payroll. If he can't pay his supers, PM's, or office admins because he is THAT broke, he can't get an MCA anyways.

And no GC gets paid in 6 months unless there is a holding pattern due to litigation or other problems with the owner/funder of the project. Even is there was, he is under no obligation to pay his subs until he is paid. Construction is always milestone billing. Short term funding works terrible for them unless they have a 50% profit margin which they, more often than not, do not have.

You're way out of league here.

[Zach]

If they are purchasing equipment I can potentially put together a longer-term solution for him at a reasonable APR.

[bdshaw]

Right on Ted.
Are you disbusing funds to subs and material vendors to eliminate potential lien problems?
Bob Shaw

[therealrichzone]

if your customer owns the big equipment that's necessary to build highways, we may have the money they need. We do cash-out refinancing on equipment and the rates are typically lower than MCA's and the monthly payments are spread out over several years which makes the equip-refi finance structure a nice alternative to an MCA