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03-21-2018, 10:08 AM #1
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- Join Date
- Oct 2016
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$4MM Construction Business Looking To Factor Receivables
Hello,
I have a $4MM a year construction business, specializing in rebuilds/disaster recovery. The have just been sub contracted for by a well known $500MM restoration business to complete various rebuilds/recovery in Florida. The terms on the contract are a 45 day net on payment. Merchant is looking to factor these invoices or possibly have a LOC secured by his receivables. Merchant usually has @ $200K-$500K in open A/R at any given time, and that number would be increasing as he begins this contract. Credit is in the low 700's.
Merchant is looking for rates in the lower single digits, as he will not be profitable at higher rates than that.
Please PM me if you can do this.
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