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  1. #1
    Member Reputation points: 10
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    Aug 2014
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    San Juan, Puerto Rico
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    14

    Does any lender fund gas stations in Puerto Rico?

    The merchant needs only $15K. He has another business (Tire Center) in the same location, but actually has a 1st position advance and no margin for a 2nd one. However, the monthly deposits in the gas station account averages above $50K and no advance or pending balance in this one.

  2. #2
    Senior Member Reputation points: 34509 Jstarr's Avatar
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    Nov 2014
    Location
    South Florida
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    838

    Thats a tough one, not that it's in PR, it's because of the asset type - normally any financing on a gas station will require an environmental( phase 1 and possible 2) especially after a a storm, they could possible have leakage -and this could get very expensive, and lender like myself dont like taking that type of risk.

    We've had money tied up in escrow for long periods of time until a clean up was complete... no fun.
    Jerry Starr
    Insource Funding
    433 Plaza Real, Ste 275 Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    Jerry@insourcefunding.net | insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

  3. #3
    Veteran Reputation points: 134971 Chambo's Avatar
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    New York City
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    3,174

    wow,...not only a gas station...but a gas station in storm ravaged Puerto Rico

  4. #4
    Senior Member Reputation points: 27404
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    Dec 2015
    Location
    Texas
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    552

    Quote Originally Posted by rickyortizmatos View Post
    The merchant needs only $15K. He has another business (Tire Center) in the same location, but actually has a 1st position advance and no margin for a 2nd one. However, the monthly deposits in the gas station account averages above $50K and no advance or pending balance in this one.
    whats the balance on the first position? we can probably do a second on a cc split message us!

  5. #5
    Senior Member Reputation points: 54975
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    Dec 2013
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    Quote Originally Posted by Chambo View Post
    wow,...not only a gas station...but a gas station in storm ravaged Puerto Rico
    could be worse chambo can be does anyone one fund a gas station in purto rico that has defaulted and has 3 partners 2 not willing to sign and btw they also sells cars.
    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

  6. #6
    Senior Member Reputation points: 3706
    Join Date
    Jan 2017
    Posts
    378

    We do fund in Puerto Rico if you would like to discuss this deal further with me.
    Paul Boxer
    Merchant Marketplace

    Chief Operating Officer
    Chief Revenue Officer

    Cell: (516) 805-9209
    paul@merchantmarketplace.com
    www.merchantmarketplace.com

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