Results 1 to 7 of 7
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10-09-2018, 06:06 PM #1
- Join Date
- Apr 2014
- Location
- Chicago, IL
- Posts
- 185
MCA on a future business purchase for $1.3MM
I'm trying to see if there's any truth to this.
Spoke to a prospect today who has an offer from a MCA company for $1.3MM over 2 years. Here's the kicker: he doesn't own the firm. In fact he's about to buy it and they're advancing him the funds on the day he closes.
I never heard of these types of deals. Is it real? Can any lender out there compete on this??
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10-09-2018, 08:35 PM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,982
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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10-10-2018, 10:59 AM #3
- Join Date
- Apr 2014
- Location
- Chicago, IL
- Posts
- 185
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10-10-2018, 11:13 AM #4
- Join Date
- Sep 2018
- Location
- Indianapolis
- Posts
- 29
That would be a first I have ever seen, if there is ANY truth to this merchant's story (we all know they lie) I would LOVE to sign a ISO agreement with that company immediately! Please keep us posted, here at Metromedia we have a in office term we use on merchants like that, we call them unicorn chasers here and sometimes they swear they catch one. The morale of the story I tell my sales crew is just because you strap a broom stick on the head of a donkey does not qualify them to be a unicorn.
But just on the off chance there is some company giving millions to trucking companies for buy out acquisitions in the format of a merchant cash advance, we would defiantly keep that firm very busy!
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10-10-2018, 11:39 AM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,502
Maybe new for MCA, but these deals are done all the time in different forms. I am working on one right now. A group of investors are buying the assets of a manufacturing business. The AR, AP, and Liabilities are staying with the owners. They set up a NEWCO to acquire the other assets and need a working capital facility in place the day they take over operations.
We have financed buy outs of several companies in this manner and some we financed the AR and Inventory to round out the financing and provide a facility going forward.
KHKevin 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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10-10-2018, 12:59 PM #6
- Join Date
- Apr 2014
- Location
- Chicago, IL
- Posts
- 185
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10-10-2018, 01:03 PM #7
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,502
AAK723: My e-mail: Kevin.Henry@SeacoastBF.com Yes-We pay referral fees.....
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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