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  1. #1
    Senior Member Reputation points: 4567 NickHubbard's Avatar
    Join Date
    Jun 2015
    Location
    Saint Louis, Mo
    Posts
    326

    Consolidation + No Net Requirement

    Hey,

    Have a merchant looking to consolidate 2 advances plus net some cash.

    Can any direct funder make this work?

    -------------------

    Design/Build contracting business
    7 Years in business
    Monthly revenue averages 60k to 100k
    Credit score is in low 700's

    Currently has approx $152,000 in contracted work backlog
    $26,742 in accts. receivable

    -Bizfund balance is $44k with daily payment of $452
    -Ondeck balance is $30k with daily payment of $187

    Looking to consolidate MCAs + net approx $25k

    And obtain a min 1yr + term and weekly or monthly payment schedule
    Last edited by NickHubbard; 02-05-2019 at 04:24 PM.
    Nick Hubbard
    Senior Loan Advisor
    314-252-0299 - Office
    314-885-2262 - Direct
    nick@elitefactoring.com
    www.elitefactoring.com

  2. #2
    Senior Member Reputation points: 69645
    Join Date
    Mar 2016
    Posts
    897

    You should mention the company names of the Two MCA's.

    If both are Swift and OnDeck, your request might be very doable. But if its YSC and Richmond, i doubt anyone will pay them off.
    Thank you,

    Lior Monus
    Business Development Manager
    CFG Merchant Solutions


    Direct: (646) 880-6764
    Cell: (516) 319-5826
    Fax: (646) 278-7322
    Lmonus@cfgms.com
    180 Maiden Lane New York, NY 10038

    www.cfgmerchantsolutions.com

  3. #3
    Member Reputation points: 1949
    Join Date
    Nov 2018
    Location
    San Diego, CA
    Posts
    75

    Try Quarterspot. You only need to net 20%.

  4. #4
    We can consolidate and also have a no net requirement but we secure our loans with real estate. If the merchant has, then feel free to send it over to WBL.

    kcalderon@wbl.com

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