[allfunds]

Have a merchant who does residential and commercial construction looking for 350k / 9mo min. In business since 2010 and has been steadily growing ever since, did over 9million for 2018. Has 17million in signed contracts for 2019, all project are already underway. I've had declines for 2 reasons, 1 - low # of deposits / volatile monthly revenue and 2 - they have a RE investor fund as another part of the business. They were funded once in the past and that deal is about to roll off the books. Merchant has months over 1 million and months of 200k, but the daily balances are always super strong. December not a day under 275k on the bank statement. Credit is 650+ but I seem to be struggling to even get in the ballapark. Highest offer was 195k / 10mo. Any ideas?

[Michael_Prompt]

Have a merchant who does residential and commercial construction looking for 350k / 9mo min. In business since 2010 and has been steadily growing ever since, did over 9million for 2018. Has 17million in signed contracts for 2019, all project are already underway. I've had declines for 2 reasons, 1 - low # of deposits / volatile monthly revenue and 2 - they have a RE investor fund as another part of the business. They were funded once in the past and that deal is about to roll off the books. Merchant has months over 1 million and months of 200k, but the daily balances are always super strong. December not a day under 275k on the bank statement. Credit is 650+ but I seem to be struggling to even get in the ballapark. Highest offer was 195k / 10mo. Any ideas?

Pm'd

[WhoisKingsley]

Have a merchant who does residential and commercial construction looking for 350k / 9mo min. In business since 2010 and has been steadily growing ever since, did over 9million for 2018. Has 17million in signed contracts for 2019, all project are already underway. I've had declines for 2 reasons, 1 - low # of deposits / volatile monthly revenue and 2 - they have a RE investor fund as another part of the business. They were funded once in the past and that deal is about to roll off the books. Merchant has months over 1 million and months of 200k, but the daily balances are always super strong. December not a day under 275k on the bank statement. Credit is 650+ but I seem to be struggling to even get in the ballapark. Highest offer was 195k / 10mo. Any ideas?

Depends on the state. This type of "deal" I would have to introduce you to the direct outlet. PM me your email so you know what to do with these types of files here on out

[abfunders]

Because you're probably offering them the wrong product.
This is a Subcontractor or a contractor?
There's definitely real estate collateral there, also, so this should be pretty simple. I'm not sure what the problem should be Give me an email if you'd like to discuss more!

[abfunders]

To clarify, there are several funds out there, based on the info you've provided, who can do this deal with using their RE or their AR as collateral, depending on the quality of both. It's just a matter of looking at the balance sheet as well as packaging it up and sending it to the correct lenders.

[allfunds]

No RE to pledge.

[Jstarr]

One of the problems with GC's are, they can walk off the job without recourse, and in most states deposits arent refundable. If they want to secure Real Estate, and depending in state and asset class, we could assist.

[abfunders]

Are they GCs or SCs?

[RichardGerard]

All good points but I haven't seen anyone ask if there is any other debt on the balance sheet. Had a similar client that was working with Hedge Funds on REIT's on one side of his business, and the other was residential construction development.

Client had loans for the land with local banks- with robust contracts in hand. We brought in a group to cross collateralize the land- and gave the business 2M. Also, client needed immediate capital so we were able to secure an advance (with the approval of the group investing 2M) as a Bridge.

Happy to assist on these type of deals..

RG

Business Capital Consultants
3237 Route 112 Suite 9
Medford, NY 11763

rg@businesscapitalconsultants.com

[ABL Rob]

This Client might be a better fit for A/R Factoring if they have B2B or Govt receivables.
I am not concerned about credit score, or bank statements - we look at the A/R.

AmeriFactors is a direct lender and has funded over $5BILLION since 1990.

We pay brokers recurring monthly residual commissions, on closed deals funded.
Send me a pm or give me a call or email, and I'll be happy to discuss.

Rob Brownell
AmeriFactors Financial Group
215 Celebration Place, Suite 340, Celebration, FL 34747
p: 772-419-8606
e: rbrownell@amerifactors.com
w: www.amerifactors.com