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09-21-2018, 10:24 AM #1
Reputation points: 31
- Join Date
- Apr 2017
- Location
- Orange County, CA
- Posts
- 90
Refinance - 15MM Company in 5 advances with 1.5MM Outstanding
Retail/Distribution company in CA took on 5 MCA loans totaling 1.5MM due to cash flow issue with a bad business deal, bridge funding in the toughest way.
They already have factoring which has also tied up real estate so no options with those two routes.
Trying to see if any large MCA lenders would consider refinancing a few of the MCA's into one with a 10-12 month term. Super G has already seen this a few times and passed.
Only thing uncollateralized is 2.5MM in inventory. Merchant has a good client list w/PO's but having kicked the can down the road 4-5 months ago they are now well into the cash burn period of this.
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