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12-17-2018, 11:50 AM #1
- Join Date
- Aug 2014
- Posts
- 35
Second or Third Position Split w/ Baggage or a Consolidation
I have a men's clothing store producing 25k per month in revenue - 20k in credit card processing. Looking for a split fund. The owner has a weak credit score and w/ negative days and overdraft charges. Slow paid an MCA that resulted in a coj being filed but now has been paid and UCC released with a Zero Balance letter. Currently has WBL in first position with a $65k and Ace in second position with a $7k balance.
Aug - Had 0 negative days, 20 overdraft charges
Sep - Had 1 negative days, 23 overdraft charges
Oct - Had 2 negative days, 28 overdraft charges
The merchant is open to paying off WBL or consolidating using the equity in home he lives in. The merchant's home is valued at $286,000
Looking for a max offer.
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12-17-2018, 12:45 PM #2
We would not be able to do a split but the merchant potentially qualifies for a Reverse Consolidation. feel free to call me with questions
--
Warm Regards,
Jon Tastaca
Managing Partner
1979 Marcus Ave
New Hyde Park NY 11042
www.BayPointFunding.com
Direct: 001+646.478.6824
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