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07-05-2018, 02:31 PM #1
Reputation points: 1018
- Join Date
- Oct 2012
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- 142
Tough Restaurant Deal
We have through an Agent a tough restaurant deal. The problem is that their bank statements are terrible, overdrafts and NSF's, which means that an ACH deal would never work. So, we would need a lockbox split with the processor who is on the First Data platform.
We received an offer for $44K at 21% holdback, 10 months.The merchant said that he was told he could get the same thing with a 10% holdback. Told him, sure you expect them to give you (24) month deal.
Here are the particulars for any lender who thinks they can do the deal.
Time in Business: 7 years
January Processing: $34K
February: $35K
March: $31K
April: $19K
May: $37K
June: $35K
Thanks!
Howie Dane
Funding Sources for Business
(847) 831-4118
president@fundingsourcesforbusiness.com
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07-05-2018, 02:37 PM #2
Reputation points: 54989
- Join Date
- Dec 2013
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- 4,713
Howie hows the Windy City doing with 91 degree weather ? !!
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-05-2018, 03:10 PM #3
If its in Florida and they own the Real Estate, Call me...
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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07-05-2018, 04:56 PM #4
Reputation points: 54989
- Join Date
- Dec 2013
- Posts
- 4,713
Yep Jerry knows the eatery biz world !
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-05-2018, 05:10 PM #5
Reputation points: 6278
- Join Date
- Mar 2016
- Posts
- 186
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07-06-2018, 08:41 AM #6
Reputation points: 1018
- Join Date
- Oct 2012
- Posts
- 142
Great, but as they say, "it's a dry heat"
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