Results 1 to 15 of 15
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12-11-2017, 05:16 PM #1
- Join Date
- Apr 2015
- Posts
- 206
Established business making 500K per month seeking 125k 3rd position
My client owns a very established business. He is seeking capital to jumpstart the new year. the business currently has a 1st position amounting to 50k. In addition, my client recently obtained a 2nd position (weekly payment) loan, with a payback amounting to 175k.
Please let me know if you can do a legit deal, we are not interested in extremely short terms and outrageous fees.
Thank you!
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12-11-2017, 05:31 PM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,995
This forum is not a bank - so you are seeking a 3rd position - what factor rate do you consider not outrageous?
This business grosses 500K per month or shows a gross/net profit of 500K? What type of business?
Just a few quick questions that any funder would ask.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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12-11-2017, 06:30 PM #3
- Join Date
- Feb 2017
- Posts
- 3,463
What Dave said, plus...
What's the credit?
What's the industry?
What's the TYPE of current debt? You say "position" as if it's assumed it's an MCA.
Is there any collateral? A/R, Inventory, equipment.... something to leverage?
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12-11-2017, 07:28 PM #4
- Join Date
- Dec 2016
- Location
- Brooklyn N.Y.
- Posts
- 428
We'll take a look for something reasonable
High risk paper
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12-12-2017, 06:50 AM #5
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
CashAdvanceKing,
Is your client profitable?
What kind of Gross Profit Margin are they working with? Everyone on this blog has seen Wholesalers or even Gas Stations that have high revenues- but very low margins.
There are folks here that do not wish to take away your client- but rather help you close them now, and in the future. Once a client realizes that you aren't only interested in the immediate 10-12 points, they come back to you again, and again.
Feel free to touch base...
rg@businesscapitalconsultants.com
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12-12-2017, 10:59 AM #6
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,995
Anyone receive a reply from "CashAdvanceKing"
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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12-12-2017, 06:22 PM #7
- Join Date
- Dec 2017
- Posts
- 9
PLEASE GIVE ME A CALL !
MY NAME IS RICHARD DUNN
Cell- 718-787-8860
I SPECIALIZE IN 3rd AND 4th POSITIONS !
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12-12-2017, 08:11 PM #8
- Join Date
- Apr 2015
- Posts
- 206
Business grosses 500k. I think anything above 1.45 is outrageous. Furthermore, my client does not like origination fees. If there is one, it has to compare to the deals hes done in the past. About 2.5 percent.
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12-12-2017, 08:12 PM #9
- Join Date
- Apr 2015
- Posts
- 206
I am looking for a very strong 3rd position lender.
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12-12-2017, 08:18 PM #10
- Join Date
- Mar 2016
- Posts
- 186
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12-13-2017, 01:15 PM #11
- Join Date
- Jun 2017
- Posts
- 2,049
Has your client ever had a 3rd Position?
My Clients think a lot of things. You need to tell them what it is.
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12-13-2017, 04:48 PM #12
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,995
So have you found the perfect 3rd position. You want a lender to be the 3rd wheel - unsecured funds and you think a factor of 1.45 is high -
Let's see if I have this correct - I'm an underwriter and I'm going to propose to my boss this is a good deal.
1st. 50K
2nd - 175K Recently was funded
3rd - Me @ 125K at less than 1.45 Factor
And you want to stack another MCA on this merchant - Ouch
No wonder these merchants are going out of business.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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12-13-2017, 04:51 PM #13
- Join Date
- Jun 2017
- Posts
- 2,049
why did he stack? why not just buy out the 1st with th elast advance?
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12-13-2017, 05:17 PM #14
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,995
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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12-14-2017, 01:02 PM #15
- Join Date
- Dec 2017
- Posts
- 9
That can get done for you with no problems.
My goal is to put variety on the table for you with a great pay out
Please give me a call,
Richard dunn 718-787-8860
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