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07-24-2018, 01:33 PM #1
Reputation points: 10
- Join Date
- Jul 2018
- Location
- South Florida
- Posts
- 5
Default - Construction, 190k deposits, needs 30k
Merchant defaulted on 3 lenders in June. SOJ for 2/3. 3rd will be paid off end of month and receive 3rd SOJ.
Defaulted due to not receiving a contract payment. He called the lenders and told them the situation. He needed a week or so. Once one lender filed COJ the other two followed.
25k open right now, 4 positions. I have A/R, MTD, last 3 months, and SOJ's.
Needs 30k. I quoted him 1.499, 40 payments and he said he'd take it.
Midnight, Second Chance? Any others?
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