Looking For a Lender That Would Buy Out a reverse consolidation

**abfunders** · 06-08-2018, 10:32 AM

Originally Posted by Velocity Capital Group

Could have Factored for him as well.

He's already factoring. And he doesn't do enough B2B to buy out the first position. The guy has $280,000 of debt.
And we just added a $1190/mo payment that's not in violation of any of his no-stacking agreements.

**Kevin Henry-Seacoast** · 06-08-2018, 10:33 AM

Originally Posted by abfunders

He's already factoring. And he doesn't do enough B2B to buy out the first position. The guy has $280,000 of debt.
And we just added a $1190/mo payment that's not in violation of any of his no-stacking agreements.

Did you get an inter-creditor agreement with the factor?

**abfunders** · 06-08-2018, 10:40 AM

Originally Posted by kevinhenry0527

Did you get an inter-creditor agreement with the factor?

In this particular case also, there's no UCC, no lien on the business what-so-ever.
The OTHER stackers did not!

**Kevin Henry-Seacoast** · 06-08-2018, 10:44 AM

Originally Posted by abfunders

In this particular case also, there's no UCC, no lien on the business what-so-ever.
The OTHER stackers did not!

I don't care what others did. Did YOU get an inter-creditor with the current factor? I find it very hard to believe the current factor did not file a UCC.

**abfunders** · 06-08-2018, 10:53 AM

Originally Posted by kevinhenry0527

I don't care what others did. Did YOU get an inter-creditor with the current factor? I find it very hard to believe the current factor did not file a UCC.

The current factor I'm sure did file a UCC.
The current offer we got for him has no real lien on the business. It's not a loan.

**Kevin Henry-Seacoast** · 06-08-2018, 10:58 AM

Originally Posted by abfunders

The current factor I'm sure did file a UCC.
The current offer we got for him has no real lien on the business. It's not a loan.

So you did not get an inter-creditor from the current factor and funded a "non-loan" for the Company? Are the payments for the non-loan wired daily, weekly, or monthly? Was the "non-loan" an advance on future receivables or revenues?

**abfunders** · 06-08-2018, 11:08 AM

Originally Posted by kevinhenry0527

So you did not get an inter-creditor from the current factor and funded a "non-loan" for the Company? Are the payments for the non-loan wired daily, weekly, or monthly? Was the "non-loan" an advance on future receivables or revenues?

Not wired. Paybacks are monthly. Not an advance, not a loan. It's what we call a "shticky" financing method.

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