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10-08-2018, 02:41 PM #1
Who can refi 5 MCAs for 1.5M
Strong company in California.
5 MCAs with 600k balances.
Wants to refinance and get 1.5-2M for expansion
TVT says they can do it but we dont want another position
Any other funders can do this?
No invoice factoring , No real estate.
Senior debt in place with bank 2M
thanks
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10-08-2018, 03:19 PM #2
- Join Date
- Jan 2014
- Posts
- 1,378
no one in their right mind would expose themselves to buying $600k in mca debt from a serial stacker. Your only option is a reverse consolidation to get the client out of this if there is no collateral and factoring is not an option. Depending on industry they may be able to do ABL which could work since they are non notification which is why they don't want to factor most likely.
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10-08-2018, 03:23 PM #3
- Join Date
- Feb 2017
- Posts
- 3,456
"No" invoice factoring, "No" real estate, and senior debt? Something's fishy here. Senior debt always works with some collateral - so what is it?
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10-08-2018, 03:37 PM #4
- Join Date
- Feb 2018
- Posts
- 1,349
you will not find a first pos funder to payout $600k to other companies. also, a smart business? they took on way too much debt from mcas, thats not smart
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10-08-2018, 03:45 PM #5
- Join Date
- Mar 2017
- Location
- Nunya
- Posts
- 830
How "strong" is this company that they buried themselves like this?
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10-08-2018, 03:54 PM #6
- Join Date
- Jun 2018
- Posts
- 9
If he can wait a few months for the expansion capital, he can get a reverse consolidation and deleverage to where he has only 1 position left. At that point, he should have better options. I am not sure who would take out 5 positions and offer that type of additional financing.
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10-08-2018, 05:06 PM #7
- Join Date
- Jun 2015
- Posts
- 3,326
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10-10-2018, 05:07 PM #8
- Join Date
- Jan 2017
- Posts
- 26
Fund kite and arcarius
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10-10-2018, 07:25 PM #9
Lol fundkite. They have crap offers. I have a 1.5M offer but paperwork is a bit excessive
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10-11-2018, 06:06 PM #10
- Join Date
- Oct 2014
- Posts
- 260
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10-23-2018, 11:58 AM #11
- Join Date
- May 2017
- Posts
- 43
They don't know how it was 8 years okay !!!
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10-23-2018, 11:55 AM #12
- Join Date
- May 2017
- Posts
- 43
Did close the deal or did you get a better offer ??
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11-03-2018, 03:55 PM #13
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11-03-2018, 10:53 PM #14
- Join Date
- Jan 2015
- Location
- Laguna Beach
- Posts
- 463
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10-11-2018, 05:15 PM #15
- Join Date
- Jan 2015
- Location
- Laguna Beach
- Posts
- 463
Trying to close this type of deal is how brokers bald early
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10-11-2018, 06:20 PM #16
- Join Date
- Feb 2018
- Posts
- 1,349
here's how this game plays out- 5 MCAs with 600k balances.- you pay them off, merchant goes right back to 5 companies and stacks you. defaults on all of them eventually as the wheels on the bus eventually fall off
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10-11-2018, 06:24 PM #17
I will let you know how the funding goes in about 10 days.
best
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11-05-2018, 03:25 PM #18
- Join Date
- Oct 2018
- Posts
- 99
What kind of company is it? Do they have AR?
Adam Ward
911 Ave U
Brooklyn NY 11235
adam@Funding-Zone
347-269-1598
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11-05-2018, 03:59 PM #19
- Join Date
- May 2017
- Posts
- 43
Looking great ISO
Communication is the key to great business; I’m 100% reachable 24/7, as dedicated to closing deals as you are. My contact information is:
Email - steve.k@fundkite.com
I’m looking forward to having a great end of the year, let’s get deals done!
Best,
Steve Kamhi
Steve Kamhi
FundKite
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11-07-2018, 09:53 AM #20
- Join Date
- Oct 2018
- Posts
- 99
How is their AR? Any type of collateral? How much in sales a month?
Adam Ward
911 Ave U
Brooklyn NY 11235
adam@Funding-Zone
347-269-1598
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11-07-2018, 12:08 PM #21
- Join Date
- Oct 2016
- Posts
- 4,318
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11-07-2018, 11:25 AM #22
- Join Date
- Apr 2015
- Posts
- 300
this is how companies go out of business
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11-07-2018, 11:55 AM #23
- Join Date
- Oct 2016
- Posts
- 4,318
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11-07-2018, 12:01 PM #24
- Join Date
- Aug 2017
- Posts
- 249
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11-15-2018, 12:15 PM #25
- Join Date
- May 2017
- Posts
- 43
please call me 1929-999-6100
steven kamhi
fundkite
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