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03-17-2019, 11:00 PM #1
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Restaurant needs a CC deal
I have a good file that I need a lender to get creative on:
File details:
Restaurant
Merchant Fico is high 600’s
Deposits are 200k a month
CC sales are 60k a month
1st position with loandbuilder, balance is 90k
2nd position balance is with a well known high risk lender at 30k
3rd position balance is with a well known high risk lender at 20k
4-5 negatives a month
I am looking for a lender that will do a cc deal (lockbox) or split if you can apply a split to worldpay, that will lend 90-100k to pay off 2nd and 3rd position balances and leave loanbuilder.
Please don’t waste my time and read thoroughly to the above deal stats. Thanks all.
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03-18-2019, 10:32 AM #2
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sent you pm
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03-18-2019, 11:39 AM #3
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- Mar 2014
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- Florida
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Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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03-18-2019, 12:56 PM #4
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- Nov 2018
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If you put a 20-25% split on the CC sales, you should easily be able to get to 80K-90K at 8-9 months
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03-18-2019, 01:40 PM #5
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- Phoenix AZ
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03-18-2019, 02:32 PM #6
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03-18-2019, 04:23 PM #7
Reputation points: 13
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- Nov 2018
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His current 2nd and 3rd positions go out 4 months. Consolidating that and stretching it to a 7 month term would enable more cash flow and put his business in a much better position. He doesn't want a 4th position because that would hurt him.
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