Results 1 to 5 of 5
-
08-28-2018, 01:00 AM #1
- Join Date
- Dec 2017
- Posts
- 277
Buy Out
Business Type: Convenience Store.
Location: Tennessee.
Time in business: 11 years.
Merchant’s credit score: 683.
Average monthly deposits for last 3 months: $83,000
Average daily balance for last 3 months: $2,900
3 overdrafts in last 3 months.
3 negative days in last 3 months.
Has 2 MCA positions:
1. Remaining balance is $40,000 and pays $172 per day with 12 months remaining.
2. Remaining balance is $35,000 and pays $324 per day with 5.5 months remaining.
Total daily payment: $496.
The merchant is seeking an offer to buy out the 2nd position for a term of 12 months or more. He is not rate sensitive. His main goal is to lower his daily payments.
Can anyone buy out the second position with a 12 month term?
Thank you in advance.
Michael Sla*****er
msla*****er@sla*****er.com
-
08-28-2018, 09:01 AM #2
- Join Date
- Aug 2018
- Posts
- 12
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. Hard ass working Individual
Oscar Valido
Senior Operations Manager
Email: info@mihwf.com
Phone: 305-834-4500
12250 sw 129th ct suite 108 33186
-
08-28-2018, 10:43 AM #3
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
-
09-04-2018, 03:26 PM #4
- Join Date
- May 2016
- Posts
- 42
To clarify, we do NOT have a 50% paydown or 50% net rule though (they can net 0) but we would need to buyout both positions. We can definitely take a look at this file as I would estimate on a straight consolidation over 12 months, we would lower the daily payments by about 15%-20%.
Feel free to reach out to me directly with any questions.
Thanks,
Steven Safirstein
Vice President of Sales & Head of ISO Relations
Breakout Capital Finance, LLC
6862 Elm Street | 3rd Floor | McLean, VA 22101
O: 703.852.6013 | steven@breakoutfinance.com
-
09-05-2018, 12:22 AM #5
- Join Date
- Dec 2017
- Posts
- 277