Results 1 to 5 of 5
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08-09-2018, 06:01 PM #1
- Join Date
- Aug 2018
- Posts
- 2
Looking to borrow $400,000 - well-secured business loan - 1 YR, rate negotiable
The company won a $1.5MM lawsuit and needs cash while waiting to collect.
Collection of the lawsuit will be via bankruptcy court. The assets seized by the sheriff from the bankrupt company are estimated to be worth about $1MM.
In addition there are patents of significant value (estimated at millions of dollars).
There is also a lawsuit against an insurance company for $6MM for a fraud and bad faith claim. It's believed that this will settle.
CEO of the company is willing to sign a personal guarantee. He has a house worth about $400,000.
All money collected from the lawsuits will go through the company's law firm directly to you until you are paid back. Morgan & Morgan, PA is the law firm, a large firm with over 420 attorneys. You will be able to speak to the attorney to verify everything.
Significant due diligence materials are available, including via the court's PACER system
The information above is correct, as far as I know, but you obviously need to do your own due diligence.
Please let me know if you have any questions.
Jeff
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08-09-2018, 06:25 PM #2
- Join Date
- Feb 2017
- Posts
- 3,455
Why can't they get an A/R line with a factor if they're so big?
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08-09-2018, 06:34 PM #3
- Join Date
- Aug 2018
- Posts
- 2
The company is small. Their law firm is big.
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08-10-2018, 10:23 AM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,499
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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08-10-2018, 01:08 PM #5
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Kevin is spot on.. Also structured settlements.. If that route is not appealing to client there are also Hedge Funds that wouldn't mind turning a nice profit with a 12 month note that is fully collateralized..
Richard 516 510 3855
rg@businesscapitalconsultants.com
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