[benmcgary]

Merchant has approximately $550k in balances between Funderlink, Libertas, and OnDeck.

He wants a traditional term loan from 2-4 years with a fixed interest rate.


Basic details:

710 credit score
5 years in business
New York
$320k/month in revenue


Any advice out there DF?


*We already had a reverse consolidation offer of $710k that he turned down* Please no MCA Consolidation/Reverse Consolidations.

[WestCoastFunding]

Any real estate? If not, they’d need some good ass A/R.

[benmcgary]

None that he's looking to put up. However, I don't think we would have to wrap it all up to get the deal.

He does understand his situation sucks and wants to start working back out of it (hence the reverse we offered.) Getting his A/R wouldn't be a problem though.

[Sachip24]

whats the industry if he has an aging report with outstanding invoices you may be able to establish an ABL facility for him

[abfunders]

This guy is hysterical!

Doesn't want to put up collateral? What for? He's going to run away with the money and they'll take the real estate?
Real estate as collateral is a far better option than a COJ for enforcing payments!

I sent you an email.....

[FroFunds]

If his clientele is B2B/B2G only and he has enough available A/R, Internex Capital offers a great LOC that could work for you here.

[omegafund]

With 320K monthly his AR is probably not sufficient to take out all those other funders. Real estate is the only option unless they run very healthy profit margins and have great credit. But then again if he did he would not have 3 MCA out. All of the sudden business owners think they can get a term loan with bank rates. Lol. Should have thought about that before taking out all those MCAs. Have him payoff 2 himself than he might have a chance

[Kevin Henry-Seacoast]

Merchant has approximately $550k in balances between Funderlink, Libertas, and OnDeck.

He wants a traditional term loan from 2-4 years with a fixed interest rate.


Basic details:

710 credit score
5 years in business
New York
$320k/month in revenue


Any advice out there DF?


*We already had a reverse consolidation offer of $710k that he turned down* Please no MCA Consolidation/Reverse Consolidations.

Ben,

I sent an e-mail. Call me when you are free.

KH

[benmcgary]

Medical

[profunder]

Dr about 10 deposits per month has bfs 25k balance and loc from ondeck 35k
have offers for 30k+ 7 mos but wants a payoff 12-18 months rate concious any suggestions??

[Davincinc]

Dr about 10 deposits per month has bfs 25k balance and loc from ondeck 35k
have offers for 30k+ 7 mos but wants a payoff 12-18 months rate concious any suggestions??

try breakout

[@jeannette]

Try
Justin Williams
Gemino Healthcare Finance LLC
D: (770) 321-4033 Ext. 201
C: (210) 284-2260
Justin.Williams@gemino.com

[benmcgary]

Update:

Roughly $400k A/R with 25% being insurance
$270k equipment free and clear with invoices ready

Anyone?

[Kevin Henry-Seacoast]

Update:

Roughly $400k A/R with 25% being insurance
$270k equipment free and clear with invoices ready

Anyone?

http://www.xynergyhealth.com/ Ben-Try these guys....

[benmcgary]

http://www.xynergyhealth.com/ Ben-Try these guys....

Thanks Kevin, just talked to them. They aren't a player for this but we'll be able to work them on others.