Video, TV and Sound Installation Company with 2 Existing Advances.
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  1. #1

    Video, TV and Sound Installation Company with 2 Existing Advances.

    TIB: 4 years.

    Location: New York

    Existing balance for advance #1 is $20,000 with a $140 daily payment with 6.5 months left.
    Existing balance for advance #2 is $4,500 with a $75 daily payment with 2.5 months left.

    Bank Statement Info

    June
    Deposits: $40,000
    Average balance: $10,500
    Ending balance: $8,680

    July
    Deposits: $30,000
    Average balance: $9800
    Ending balance: $5,088

    August (statement cycle ends on the 23rd of every month)
    Deposits: $22,000
    Average balance: $6500
    Ending balance: $6500

    There are no NSF or ODs.

    The merchant is looking to consolidate the balances to lower the daily payments.

    Credit score: Sub 500.

    The merchant has 2 jobs lined up after Labor Day which will generate $75,000.

    Anyone able to consolidate this?

    Thank you in advance.

    Michael Sla*****er
    msla*****er@sla*****er.com

  2. #2
    Give me a call Michael, your name and last name stand out lol. It's a pleasure to see you on here, hope after American funding all is well and that job you took at the brokerage went well.
    If you are your own God bless, you deserve it, Hard ass working Individual

    Oscar Valido
    Senior Operations Manager
    Email: info@mihwf.com
    Phone: 305-834-4500
    12250 sw 129th ct suite 108 33186

  3. #3
    Senior Member Reputation points: 54989
    Join Date
    Dec 2013
    Posts
    4,713

    may be a perfect fit for mantis !
    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

  4. #4
    Senior Member Reputation points: 24139
    Join Date
    Apr 2014
    Location
    Washington DC
    Posts
    421

    If they have the invoices that are B2B, call Ish or anyone in my sales office. If B2B and checks out, our offer would be, for lack of a better word, a "bundled" term loan (we do not offer cash advance or factoring) at APR-based pricing.
    Carl Fairbank
    Founder & CEO boldMODE
    www.boldmode.com
    Carl@boldmode.com
    Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
    www.breakoutfinance.com

  5. #5
    Senior Member Reputation points: 71352
    Join Date
    Mar 2016
    Posts
    908

    Merchant has 2 balances higher than the revenue he did in August. Rev dropping as the months go by. Don't see a consolidation happening here. Might be room for a small 3rd, but that's about it.

    If credit is really high you might be able to pull something off. Good Luck!
    Thank you,

    Lior Monus
    Business Development Manager
    CFG Merchant Solutions


    Direct: (646) 880-6764
    Cell: (516) 319-5826
    Fax: (646) 278-7322
    Lmonus@cfgms.com
    180 Maiden Lane New York, NY 10038

    www.cfgmerchantsolutions.com

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