Results 1 to 15 of 15
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12-03-2018, 05:14 PM #1
- Join Date
- Jan 2018
- Posts
- 34
2-4 Year Term with Bank(-ish) Rates
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.
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12-03-2018, 05:18 PM #2
- Join Date
- Oct 2016
- Posts
- 4,318
Any real estate? If not, they’d need some good ass A/R.
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12-03-2018, 05:20 PM #3
- Join Date
- Jan 2018
- Posts
- 34
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.
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12-03-2018, 05:43 PM #4
- Join Date
- Jan 2014
- Posts
- 1,380
whats the industry if he has an aging report with outstanding invoices you may be able to establish an ABL facility for him
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12-03-2018, 05:46 PM #5
- Join Date
- Feb 2017
- Posts
- 3,463
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.....
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12-03-2018, 05:51 PM #6
- Join Date
- Nov 2018
- Location
- San Diego, CA
- Posts
- 75
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.
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12-03-2018, 06:09 PM #7
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 732
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
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12-04-2018, 08:57 AM #8
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
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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12-04-2018, 09:04 AM #9
- Join Date
- Jan 2018
- Posts
- 34
Medical
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12-05-2018, 12:42 PM #10
- Join Date
- Dec 2016
- Posts
- 49
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??
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12-05-2018, 01:23 PM #11
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
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12-05-2018, 01:39 PM #12
Try
Justin Williams
Gemino Healthcare Finance LLC
D: (770) 321-4033 Ext. 201
C: (210) 284-2260
Justin.Williams@gemino.comJeannette Nearing | Business Development Officer| AmeriFactors
| M (770) 362-2307
jnearing@amerifactors.com |
http://www.amerifactors.com
https://www.linkedin.com/in/jeannettenearing
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12-05-2018, 04:46 PM #13
- Join Date
- Jan 2018
- Posts
- 34
Update:
Roughly $400k A/R with 25% being insurance
$270k equipment free and clear with invoices ready
Anyone?
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12-05-2018, 04:47 PM #14
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
http://www.xynergyhealth.com/ Ben-Try these guys....
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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12-05-2018, 05:11 PM #15
- Join Date
- Jan 2018
- Posts
- 34
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