[TedFundy]

I have a client that needs 600k-1M. This will be junior to a bank line that is maxed out at 1.2M. The bank will not increase the line until next year even though they are extremely over collateralized with RE and 5M of A/R (client not happy with bank). A factor came in cheaper than us and got a ~1M dollar subordination from the bank. Funding has not kicked in yet, however. We are going to lend against some free and clear RE client has but it may not be enough and our rates are around 2% per month. Looking for a second option that will be in the <10% APR range. Client has already grossed 10M this year. 1 owner, 800 credit.

And... Hard money loan may take too long. We can lend against RE in 48-72 hours.

[Davincinc]

What states are the properties?

Any tax liens?

[Kevin Henry-Seacoast]

What industry? If they have that much AR why would you not swap to a factoring facility for a year?

[mcaguru]

If all else fails Mantis will probably make an offer in 3 hours with fewest stips (DOUBLE DIGIT COMMISSIONS)

[WestCoastFunding]

If all else fails Mantis will probably make an offer in 3 hours with fewest stips (DOUBLE DIGIT COMMISSIONS)

He said he could fund it in-house at 2% a month. Mantis offers something better?

[TedFundy]

Sorry Kevin it's construction. And they are setting up factoring right now as I wrote in my original post. But these factoring companies often moves slowly. We can fund within days.

Properties are in New York and Florida. But I'm not looking for a RE lender. No one can lend against RE quicker than us. Time is an issue here so hard money might not be a viable option.

What's the max funding amount for On Deck, SFS, BFS, and other A paper funders?

[Kevin Henry-Seacoast]

Sorry Kevin it's construction. And they are setting up factoring right now as I wrote in my original post. But these factoring companies often moves slowly. We can fund within days.

Properties are in New York and Florida. But I'm not looking for a RE lender. No one can lend against RE quicker than us. Time is an issue here so hard money might not be a viable option.

What's the max funding amount for On Deck, SFS, BFS, and other A paper funders?

Bummer construction!!! We love writing $5Mil checks. Thanks

[nrh1lp]

Ondeck im pretty sure caps at 1 million
SFS I know they have done 3 million but pretty sure they also cap around 1 million

[brokerCompany]

So Teddy you can now do Real Estate and Factoring. And you need someone to advance 600-1M in a 2 days?

[B2csp]

We could get you an offer on this, in a couple hours. if he moves right away we will be able to fund within 24-48 hours. i'll PM you my info

[TedFundy]

So Teddy you can now do Real Estate and Factoring. And you need someone to advance 600-1M in a 2 days?

The advance does not have to be in 2 days. I don't want it to be an "advance" at all. But it can't be in 30 days. For Factoring, the bank won't subordinate to us for their own restrictions, regulations, etc... We already have a term sheet produced for a loan on the RE but it is probably more expensive than SFS charging 9% APR. Understand?

[TedFundy]

So Teddy you can now do Real Estate and Factoring. And you need someone to advance 600-1M in a 2 days?

The advance does not have to be in 2 days. I don't want it to be an "advance" at all. But it can't be in 30 days. For Factoring, the bank won't subordinate to us for their own restrictions, regulations, etc... We already have a term sheet produced for a loan on the RE but it is probably more expensive than SFS charging 9% APR. Understand?

[Sachip24]

Ondeck was in our office yesterday, as per their rep they cap at 250k. SFS and BFS can go to 1mill but since construction may be tough.

[edahan]

The advance does not have to be in 2 days. I don't want it to be an "advance" at all. But it can't be in 30 days. For Factoring, the bank won't subordinate to us for their own restrictions, regulations, etc... We already have a term sheet produced for a loan on the RE but it is probably more expensive than SFS charging 9% APR. Understand?

If merch doing $2M and 2nd pos and on, will get it done.
eli@yellowstonecapllc.com
Please note this will be an MCA-

[edahan]

Factoring will be done in 24-48 hours. Need A/R for approval as well.
Eli@yellowstonecapllc.com
This offer is not an MCA.
Lmk

[Funded In A Jiffy!]

Call Lorraine at 765.517.0975.

Lorraine McNair - COO
MoveAhead Financial
2114 E Blvd
Kokomo, IN 46952
lorraine@moveaheadfin.com
www.moveaheadfin.com
765.517.0975