[EliteFundingGroup]

We have contractor who has been in business for 2.5 years, but in the industry his entire career. He went through a serious car wreck which prohibited him from working for 3 months (dec - feb). Until that point he had average monthly deposits of $51,594. He began working again in march and his deposits have steadily and exponentially increased (may $23,800). Currently he has signed contract for business of $81k. Before his illness he had an MCA which he tried to work out terms on, but the lender was not agreeable and issued a judgement on it. He is willing to pay off the judgement, only asking for $40k.

Is there anyone who will touch a loan with an open MCA judgement against the client?

Thank you in advance!

[Chambo]

so merchant still has outstanding judgment against them?

[EliteFundingGroup]

Yes. The lender will not even discuss setting up payment plan according to the merchant.

[Michael I]

wbl with collateral

[Chambo]

and then the original lender with the judgment swoops in and takes all the money. WBL doesn't get paid, files their own judgment and takes his house. Yeah, that's a smart move

[Anthony@WBL]

We have contractor who has been in business for 2.5 years, but in the industry his entire career. He went through a serious car wreck which prohibited him from working for 3 months (dec - feb). Until that point he had average monthly deposits of $51,594. He began working again in march and his deposits have steadily and exponentially increased (may $23,800). Currently he has signed contract for business of $81k. Before his illness he had an MCA which he tried to work out terms on, but the lender was not agreeable and issued a judgement on it. He is willing to pay off the judgement, only asking for $40k.

Is there anyone who will touch a loan with an open MCA judgement against the client?

Thank you in advance!

EliteFundingGroup,

If the Merchant has equity in RE this may be a good deal for us.

Would like to discuss.

Feel free to shoot me an email or call.

Best,

Anthony DeLeonardo
Vice President | Regional Wholesale Manager

World Business Lenders
101 Hudson Street, 33rd Floor
Jersey City, NJ 07302

Direct: (646)880-8035
Fax: (551)267-6714
Email: adeleonardo@wbl.com

[brokerCompany]

Dead deal with MCA. I had clients that paid off defaulted MCAs and no one would give them money. Unless they have real estate.. Good luck maybe something has changed

[Michael I]

and then the original lender with the judgment swoops in and takes all the money. WBL doesn't get paid, files their own judgment and takes his house. Yeah, that's a smart move

exactly. you get paid the original lender gets paid , wbl gets paid