[Eagle Funding]

Merchant has a banking product in the first and cant have a UCC filed, are QS and IOU only ones who will go 12 months with decent factors?

[Kevin Henry-Seacoast]

Eagle,

If the Company has a line with a bank and is not getting enough availability on their assets, why would you not consider a factoring facility or non-bank asset based line so the Company could potential get more availability and liquidity. This will also stop them from violating their agreement with their bank, hence the reason they can't have a UCC filed.
We encounter this a lot and solve the issue. Many times banks are unwilling to provide enough liquidity vs. assets because of customer concentration, time in business, hyper growth, etc.... they are better off stepping out of a bank facility and factoring or getting a non-bank asset based line of credit. This allows them to get the liquidity they need until they company qualifies for a larger traditional bank facility. Happy to discuss....

Kevin.Henry@SeacoastBF.com 561-623-1872 We are a bank owned factor and asset based lender. www.seacoastbf.com our parent is www.seacoastbank.com

[johndough17]

Merchant has a banking product in the first and cant have a UCC filed, are QS and IOU only ones who will go 12 months with decent factors?

I had a deal default for that reason. Be careful.

[Jason Sterling]

We can speak with the bank and subordinate to them if the merchant is open to a CC split MCA? We have done this before with other clients.

[AdvanceFund]

Merchant has a banking product in the first and cant have a UCC filed, are QS and IOU only ones who will go 12 months with decent factors?

Not 12 months but we do not file UCC.

[bdshaw]

I would strongly consider Kevin's solution if you want to avoid a potential law suit or worse.
Bob