Results 1 to 22 of 22
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06-29-2017, 02:50 PM #1
Question.. Do funders really fund million dollar deals?
Are there any funders who fund a million dollar deals. I know BFS use to but they will only go to 500k from my understanding. But who goes out to a million?
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06-29-2017, 02:57 PM #2
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- Jun 2015
- Posts
- 3,325
sfs has done 3mil . good luck and send me a bottle of whiskey when it funds
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06-29-2017, 02:57 PM #3
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- Mar 2015
- Location
- Boynton Beach
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- 3,490
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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06-29-2017, 03:58 PM #4
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06-29-2017, 04:02 PM #5
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- Oct 2016
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- 4,318
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06-29-2017, 04:13 PM #6
- Join Date
- Mar 2015
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- Boynton Beach
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- 3,490
I know we are a different product than MCA, but I would rather do larger deals. I have to do the same amount of work for a $8Mil facility as a $250K facility. Typically the smaller the company the greater the and unreliable financial reporting. Upstream tends to be a little more buttoned-up, but I have seen a fair amount of dumpster fires lately.
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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06-29-2017, 04:46 PM #7
Switch products when your looking at those dollar amounts unsecured funding is not the way to go.
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06-29-2017, 05:22 PM #8
- Join Date
- Oct 2014
- Posts
- 260
One $3,000,000 deal going sideways is the same as 100 $30,000 deals going bad. Chambo said it best. Lenders would rather spread that 3 million out over 100 business's from a strictly risk standpoint. And to reference MCAveteran's response, if a merchant hypothetically can sustain a loan that size, he has better alternatives then this market.
Second place? Set of steak knives.
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06-29-2017, 05:27 PM #9
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- Jun 2015
- Posts
- 3,325
mcc(bizfi) used to have a rule where no one deal can be more then X% of their book for that month . I once had a 400k approval that they switched to 650k later in the month
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06-29-2017, 06:12 PM #10
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- Apr 2013
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- Basalt CO
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- 867
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06-29-2017, 06:12 PM #11
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
I got a 1.2 mill dollar deal done with Capital For Merchants back when they were in business.
Credit Cash does million dollar deals on a regular basis. Got a couple done with them.
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06-29-2017, 06:31 PM #12
- Join Date
- Jan 2014
- Posts
- 1,375
Strategic may still go that high, I saw BFS while ago fund a 1mill for a co worker (lawfirm), Dan Page goes up to 2mill, a million dollar cash advance is kind of wild. I would def seek other options if they are available (factoring, lines of credit etc etc)
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06-29-2017, 10:13 PM #13
http://www.southcoasttoday.com/news/...loan-practices
Where did this one end up? Its too risky to fund in these amounts with this product
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06-29-2017, 10:55 PM #14
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06-30-2017, 09:27 AM #15
- Join Date
- Jun 2017
- Posts
- 119
World Business Lenders will loan out up to $2M+ if the client has the right property to pledge. We have gotten more aggressive over the years to get more loans funded as long as there is strong deposits and sufficient collateral (real estate).
Give me a call (860-436-5920) or shoot me an email (mike@wbl.com) to discuss further.
Thanks
Mike Bernier
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06-30-2017, 02:25 PM #16
- Join Date
- May 2017
- Posts
- 170
Well "lost" is relative in bankruptcy court. Has anyone seen the BFS balance on the bankruptcy filing?
Aggregated funding of $7m+ but I'm sure over a number of years/advances. Wondering what they settled for and how long it will take to receive.
They must be behind secured creditors and municipalities. How big of a hit is BFS taking on this?
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06-30-2017, 02:28 PM #17
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- May 2017
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- 170
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07-05-2017, 08:49 AM #18
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- Jun 2017
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- 2,049
Biggest deal Ive ever done was with Credit Cash years ago, over 1 million
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07-05-2017, 08:50 AM #19
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- Jun 2017
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- 2,049
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07-05-2017, 09:19 AM #20
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
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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07-05-2017, 01:20 PM #21
Seacoasts product is great rates and larger amounts for the well qualified client. But get ready for 2-3 year full financials,TR, AR/AP, another list of DD items. Must have b2b business with eligible receivables. Can take 30-45 days to fund
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07-05-2017, 01:35 PM #22
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- Mar 2015
- Location
- Boynton Beach
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- 3,490
Broker Company,
Thanks for the mention! Keep in mind that we will finance challenged companies: tax liens, BK, ugly balance sheets, huge customer concentrations, etc.... Yes-We do ask for a lot of information up front because we want a clear picture of what is going on at the Company so we can tailor a solution. We also structure transactions that encourage better collections and cash management. From first phone conversation with the client to close usually takes 30 days, but I have done them in 10. We listen first, provide a solution, and move very quick.
KevinKevin 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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