Results 1 to 12 of 12
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01-18-2018, 02:07 PM #1
- Join Date
- Oct 2015
- Posts
- 66
Need A Solution
Ny manufacturer. 2017 5.4MM Gross. 1 balance 150k- 12 month deal 1.20 with a weekly payback.
Credit low 600's . Personal BK fully discharged 5 years ago.
Daily bank balances immaculate.
Looking for 600-800k , an unsecured bridge for 6-9 months beating the in place lender by price and payment structure.
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01-18-2018, 02:26 PM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
TMR-I have a solution.... Factor his AR. He is billing around $450K a month. I bet he has over 600K outstanding which means he would likely get a $750K to $1Mil facility. If the financials look OK we would consider an inventory and/or M&E consideration. Rates will be way better than what you mentioned. kevin.henry@seacoastbf.com 561-623-1872 is my direct.
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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01-18-2018, 02:34 PM #3
- Join Date
- Oct 2015
- Posts
- 66
AR lenders can't wrap their heads around their sales cycle.
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01-18-2018, 02:50 PM #4
We lend on manufacturing equipment and on AR, call me about the sales cycle, we may be able to understand it...we can work with more complicated structures. jnearing@transfaccapital.com 770-362-2307
Jeannette Nearing | Business Development Officer| AmeriFactors
| M (770) 362-2307
jnearing@amerifactors.com |
http://www.amerifactors.com
https://www.linkedin.com/in/jeannettenearing
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01-18-2018, 02:52 PM #5
- Join Date
- Jun 2017
- Posts
- 2,049
Who gave him a 12 Month 1.20?
Thats Insane
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01-18-2018, 02:56 PM #6
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
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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01-18-2018, 03:22 PM #7
- Join Date
- Oct 2015
- Posts
- 66
It's a strange sales cycle. They receive a PO and with it a 50% deposit. The manufacturer takes anywhere between 20-30% of that deposit to build the product in China. The time it takes to build on that PO could be 1 week all the way out to 6 months. Once the order is built he then sends a final invoice to the hotel, this is his majoirity customer base, major hotel chains, which at this point he'll receive the remainder due. He wont send the product to the customer until he receives the outstanding 50% due. It's hard to determine when and but what tangible form the customer becomes the owner of that product . The business owner call his AR " in transit"
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01-18-2018, 03:58 PM #8
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
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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01-18-2018, 04:09 PM #9
- Join Date
- Jun 2017
- Posts
- 2,049
PO Financing...??
Go on Shark Tank, lol.
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01-18-2018, 07:31 PM #10
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
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01-19-2018, 08:08 AM #11
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
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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01-19-2018, 08:50 AM #12
- Join Date
- Oct 2012
- Posts
- 360
ondeck and swift give lower on reg basis. swift has been banging out 1.12 like crazy had several 200k deals in last few weeks didn't even bother with as soon as they told me swift offered 12 months 1.12 im like go with them don't bother looking around for better deal. just come to me in few months for a second
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