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09-28-2017, 03:14 PM #1
- Join Date
- Apr 2017
- Location
- Orange County, CA
- Posts
- 93
Consolidation of some but not all positions preferred
Have an application where the clients has 4 total loans. 55k, 6k, 3k, 18k. 750k annual revenue. is reluctant to payoff the largest because is paid off in december and it would force them into a new LARGE loan, but would like to consolidate the other 3 netting some working capital. This situation seems to come up on a regular basis, any lenders you would recommend that could help with this?
The alternative is obviously someone who might entertain consolidating the current debt with little or no net.
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09-28-2017, 03:33 PM #2
- Join Date
- Feb 2017
- Posts
- 3,463
Loans or MCAs?
Try Arcarius. If the bank statements can handle it, they can consolidate it with the reverse consolidation, and offer a separate contract for more money on top (but it's more expensive).
FundKite advertises they'll consolidate all but one position with a reverse.
Legend also does first-position buy-outs, if they feel the client is not a "commercial" stacker and nobody will come in after them. Doesn't sound like it in this case.
-OR-
What about an SBA that has no PPP?
-OR-
Is there any real estate or other collateral?
How's their credit that they might qualify for unsecured funding?
You gotta give us more to work with!
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09-28-2017, 03:54 PM #3
- Join Date
- Apr 2017
- Location
- Orange County, CA
- Posts
- 93
Thanks, just haven't had much luck with them. Nice guys though.
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