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06-13-2017, 01:15 PM #1
- Join Date
- Jan 2016
- Posts
- 21
Solar Company $500k financing
Hi,
We have a large solar company which has contracts to install batteries and solar to Hawaii schools.
Two School contracts at $1.5mm and $700k which need to be completed over the summer.
Excellent Personal Credit and Business Credit.
Looking for invoice factoring with recourse or short term financing structure.
Please message if interested! Thanks!
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06-13-2017, 01:30 PM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
BTI,
How are they billing? Is it complete and bill or progress/milestone payments?
Are the jobs bonded?
What was the total revenue last year?
Best,
Kevin.Henry@SeacoastBF.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, 02:28 PM #3
- Join Date
- Jan 2016
- Posts
- 21
$20mm sales
I believe 1 is bonded and the other one is not. Billing is monthly for completion of work.
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06-13-2017, 02:58 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
We could possibly finance the non-bonded AR and provide some liquidity. Send me an e-mail kevin.henry@seacoastbf.com
Kevin 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, 03:13 PM #5
- Join Date
- Feb 2017
- Posts
- 3,455
Why not a line of credit? Sounds like they'd be qualified for cash lines of credit from local banks, also, in addition to Kevin's product, considering they need so much money. Email me, I can help you monetize.
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06-13-2017, 03:17 PM #6
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
Kevin 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, 03:28 PM #7
- Join Date
- Feb 2017
- Posts
- 3,455
I'm not talking about your product. You've got secured lines on the A/R.
I'm talking about unsecured lines of credit that won't report to the personal, but need a personal guarantor to make it work. Your bank might or might not do it, but there are hundreds of banks and credit unions around the US who do offer this product. The trick is knowing who to go to to prevent tons of hard inquiries from showing up and everyone backing off the borrower.
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06-13-2017, 03:35 PM #8
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
Kevin 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, 03:39 PM #9
- Join Date
- Feb 2017
- Posts
- 3,455
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06-13-2017, 03:49 PM #10
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
Depends on the client. We are one of the largest banks based in Florida with close to $6Bil in assets. Our legal lending limit is well north of $20Mil. Unsecured lines will likely not be that much unless the debtor is an UHNW individual or large business. Most unsecured lines with bank (regional) are typically under $1mil as the target corporate customer is lower to lower mid-market.
Kevin 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, 04:03 PM #11
I can vouch for Kevin Henry, he's the right guy for this deal. i know his company very well.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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06-13-2017, 04:29 PM #12
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
Kevin 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, 04:53 PM #13
- Join Date
- Mar 2016
- Posts
- 335
Kevin,
I thought you stayed away from construction.
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06-13-2017, 04:54 PM #14
kevin is not going to do construction. He will refer you to someone else
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06-13-2017, 05:02 PM #15
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
BrokerCompany-We will consider construction if it is complete and bill and the debtor is the customer not another contractor. We do NOT do common construction of buildings, roads, etc... We can and will play on the fringes so long as the billing is complete and bill and not bonded. Example: We are one of the most active lenders to the cell tower service industry. We do NOT finance companies doing construction of new towers, but will finance companies doing upgrades, maintenance, audits, and decommissioning work all day long. The deal mentioned above is something we would certainly consider.
Kevin 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, 05:04 PM #16
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
On another note: We do not finance pure construction companies or healthcare where there is payer risk. We will refer you to someone that might be a friend of the firm, but never expect any kind of payment from anyone. I am in the business of deploying capital and getting capital back.... I hung up my investment banking hat 4 years ago.
Kevin 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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