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03-22-2018, 11:08 AM #1
- Join Date
- Jul 2014
- Posts
- 82
700k a month avg balance 75k auto wholesaler only 50k floor plan(Next Gear) 150k ask
Any lender consider Car Wholesalers Different from Auto sales anymore?
I know BFS does but, my clients only been in business for 11 months. Banks are clean, no negatives & very healthy daily balances as mentioned in subject line.
Looking for something short term with early payoff discount. Ideally a 3-6 month deal that he can payoff early with a discount or pull new capital after 2-3 months. Trying to mimic an L.O.C.
We have a 80k offer now for 8 months, turned down a 100k offer for 10 months. The goal is to renew this merchant every couple months or knock out w/ discount & repeat.
He has Kabbage and wants to keep it. He pulled 80k from them last month & paid it back already.
Direct lenders only please
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03-22-2018, 11:12 AM #2
- Join Date
- Feb 2017
- Posts
- 3,463
Did you send the guy to Bluevine or Fundbox? Those are real LOC.
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