Results 1 to 6 of 6
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06-13-2017, 11:47 AM #1
No UCC behind banking product
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?
Eagle Funding Group
Phone: (646) 793-6809
Email: info@eaglefundinggroup.net
Web: www.eaglefundinggroup.net
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06-13-2017, 12:02 PM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,493
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.comKevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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06-13-2017, 01:08 PM #3
- Join Date
- May 2017
- Posts
- 350
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06-13-2017, 01:10 PM #4
- Join Date
- Jul 2015
- Location
- Tampa Florida
- Posts
- 502
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.
Jason H l Sales & Business Development
Quikstone Capital Solutions l Tampa FL
Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
Jason.Hausle@quikstonecapital.com
www.quikstonecapital.com
Direct Lender Since 2005
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06-13-2017, 06:58 PM #5
- Join Date
- Jun 2016
- Posts
- 416
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06-13-2017, 08:54 PM #6
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
I would strongly consider Kevin's solution if you want to avoid a potential law suit or worse.
Bob
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