[Salesgodwolf]

What is the best funder that will consolidate a merchant with multiple advances.

[golf2014]

Multiple...give details

[Asset Advance]

What is the best funder that will consolidate a merchant with multiple advances.

How many positions?
What are the balances?
Whats the credit like?
What industry is the business?

[WestCoastFunding]

The best funders to consolidate multiple advances are the ones that actually consolidate advances rather than just claiming it. 99% claim they'll consolidate but that's just marketing-PR.

Realistically, everything has to be damn near perfect from a cash-flow perspective (and probably asset side) for it to get done. But then you have to ask yourself, "why the hell did they get themselves in the mess in the first place if they had these assets and net revenues?"

[GoodCustomerService]

Because they were never educated on what was available to them. What type of financing best suits their business. Instead, in 99 out of 100 cases, they fill out a few apps online, get involved with one or two brokers, and then the defining moment.....am I working with someone legit or am I working with the devil?The legit broker will do what he can to pre qual the merchant to help place them in the best financial program suited for their needs and their business. Merchants with assets, real estate, equipment, etc can get some really great products quickly and with little hassle. Even without good credit. They just need a good Guide. Someone who will assist them in maneuvering through sometimes hard to understand processes for a simple small business owner to secure good capital.

The devil sells them on a 12 month deal with a 2nd position for 7-8 months and a 3rd position for 4-5 months. While also collecting a 10% fee because "why not? I just got this guy who does $250k a month $500k in deals. I deserve it." But now he's screwed paying $4k a day in payments, or a 3rd of his sales, towards MCA payments and 30 days later that same devil shoves a 4th position down the guys throat cause he can't make payroll or rent. The devil is good cause claw backs run for 30 days. So what the hell does he care when this poor shmuck who has been in business for 20 years and has a wife and kids and now can't support them has to stop payment on 4 MCA companies, 2 which have COJ's, file them, freeze up his accounts and destroy this shmucks life.

Consolidations don't make sense when you're dealing with MCA debt. It's toxic and expensive. Pushing off expensive debt to simply free up some daily cash flow isn't a plan, it's a band aid over a bullet wound. So a guy with 3 advances totaling $250k in balances wth an average cost of a 1.40, paying $2500 daily should take out a $400K advance at a 1.49 over 18 months because it will save him $1k a day now?! But now the $250k of toxic debt is now $600k. So what happens in 3-4 months when he needs more money? The cycle will start all over. Only this time there's no bailout coming.

[RichardGerard]

Consolidating advances with an advance is just a way to dig a deeper hole for a client already struggling.

We have successfully consolidated as many as 14 advances. The solution is always in collateral (not just Real Estate), and DSCR with the new credit facility.

[GoodCustomerService]

Thanks for agreeing with me, Richard