Fund large deal with previous default

**Eagle Funding** · 06-14-2018, 01:51 PM

Who will fund a large deal with a previous default?

**CStewart** · 06-14-2018, 02:10 PM

Is the default repaid?

**Kevin Henry-Seacoast** · 06-14-2018, 02:13 PM

Originally Posted by Eagle Funding

Who will fund a large deal with a previous default?

Eagle,

Perhaps offering up a little information might help.....
-What industry?
-Revenue?
-Why was their a default?
-Was the default settled or paid?
-Is their a judgement against the Company?
What is the ask? What type of facility and size?

Best,

Kevin

**mcaguru** · 06-14-2018, 02:15 PM

Does he currently have MCA funding ?

**Eagle Funding** · 06-14-2018, 02:23 PM

I asked a general question on who would fund a deal that has a default, not sure why you are asking Crazy details about a specific deal as I did not say there is a deal on the table. The reason I said large is there’s no way someone is funding a 20K deal that defaulted.

But being specific Mr. Clapman you guys declined a default I had for default. And he was doing a mill a month and paying MCAs

**JMB** · 06-14-2018, 02:27 PM

if its 20k ur looking for im sure midnight would do it but if hes doing a mill a month i doubt thats what ur looking for....by chance this a cali deal? lol

**Kevin Henry-Seacoast** · 06-14-2018, 02:30 PM

Originally Posted by Eagle Funding

I asked a general question on who would fund a deal that has a default, not sure why you are asking Crazy details about a specific deal as I did not say there is a deal on the table. The reason I said large is there’s no way someone is funding a 20K deal that defaulted.

But being specific Mr. Clapman you guys declined a default I had for default. And he was doing a mill a month and paying MCAs

Ok... If you are asking a general questions: We have and will finance companies that have defaulted with other lenders so long as we have a good understanding of why. My question to you because I like to ask CRAZY questions...... You asked how funds large default deals. Do you really consider a $20,000 deal a default? Add a comma and a few zeros.....

**Eagle Funding** · 06-14-2018, 03:07 PM

I have 3 of them in Cali, and 1 in NY

**JMB** · 06-14-2018, 03:25 PM

Currently dealing with the issue myself, guys been paying for last 6 months from what i see with crazy balances (both mca and ending balances) getting declined for default....got funded like 600k over past 6 months tho idgi

**ryan $** · 06-14-2018, 03:38 PM

There are Companies that Miss Defaults....depending where they are..... DataMerch, Court System, If COJ was filed , etc

**JMB** · 06-14-2018, 03:42 PM

Originally Posted by ryan $

There are Companies that Miss Defaults....depending where they are..... DataMerch, Court System, If COJ was filed , etc

coj was filed, he paid them off in full and i have all paperwork to back it...any suggestions? 300k bal 750k / month lol

**Kevin Henry-Seacoast** · 06-14-2018, 03:51 PM

Originally Posted by JMB

coj was filed, he paid them off in full and i have all paperwork to back it...any suggestions? 300k bal 750k / month lol

750k/month for a commercial business selling products to another commercial business equates to well over $1Mil in receivables outstanding. If they are B2B you should consider factoring. With the recent defaults they may not qualify for ABL out of the gate.

**ryan $** · 06-14-2018, 03:55 PM

i sent you a PM
Also, there are a few more options as long as it wasnt a default on YS

**abfunders** · 06-14-2018, 04:05 PM

The merchant needs $110,000 for 2-3 days (existing paid checks need 2-3 days to clear), willing to pay 1%/day. Checks will clear by Tuesday at the latest. Heimish guy, guaranteed ROI.

The client also needs $26,000 ASAP, regular revenue will cover that soon enough, but won't be 1%/day.

There is a new factor involved who might be able to help with the prepayments the invoices, and we'll know by the end of the day if this factor can do it and if he can net on top with an intercreditor relationship to help buy out the MCA debt. There will be definitely eventually be a factor involved, it's just a matter of who. It's a bumpy ride until it gets in place (hopefully by next week).

**Irving** · 06-14-2018, 05:26 PM

Originally Posted by JMB

coj was filed, he paid them off in full and i have all paperwork to back it...any suggestions? 300k bal 750k / month lol

unique funding solutions would have a look as long as merchant didnt rework payment and he paid off sooner then later

irving@ufsfunding.com

**channin19** · 06-15-2018, 08:39 AM

Originally Posted by Irving

unique funding solutions would have a look as long as merchant didnt rework payment and he paid off sooner then later

irving@ufsfunding.com

So as long as he didn’t default??

**mcaguru** · 06-15-2018, 01:25 PM

But being specific Mr. Clapman you guys declined a default I had for default. And he was doing a mill a month and paying MCAs[/QUOTE]

Usually when they call me Mr. Clapman I'm in trouble ... With that said there are dozens out there that can say they got funded from mantis that have been in default..however there are many different kind of reasons a merchant defaulted that come into play when we do fund them. Keep in mind we funded thousands and thousands of transaction and a small amount have been defaulted in the past..i dont want anyone to think we are a house that funds defaults -- however if your hearing the story and it makes sense like for example he says i was driving on the highway and i got into car accident and here is the link of me being airlifted and my business was halted for 4 months and now i am back in business we would probably fund that scenario.

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