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08-06-2018, 06:29 PM #1
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
We arrange them as well John- at times using Institutional lenders and ABL groups like Kevin's (over $1M per month this year on consolidations).
If there are enough receivables, Machinery and equipment (and the entity is profitable- with good debtors), and/or desirable inventory there will always be a way to consolidate MCA advances.
Giving a client that has too many advances- a larger advance- in most instances is just piling on debt- even if the term is extended. If however the client took the quick- wrong debt, and has a good business- it will get done.
HDF brought up the old group Dan was affiliated with (Funding Strategy Partners). I have been working with the former Principal to fix non performing deals from their portfolio of loans outstanding- and many of them have solutions other than advances.
Sometimes more than one lender is needed (ie SeaCoast for the Asset based portion on a revolver and a term loan product to work side by side with them). It isn't easy or quick- but it happens all the time.
Richard 516 510 3855
rg@businesscapitalconsultants.com
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