BIG DEAL Need 3rd pos!

**patrickw** · 03-19-2019, 02:47 PM

Hi Guys,

I need 200k 3rd for this deal (NO 1.49 please) Merchant won't go! IOU won;t move forward due to high balance.
Credit: 720, Industry: Security Guard
He has 2 account under same business. He has 2 advances:
Quaterspot: 143K as of today (funded on Feb)
Milligan: $343K (funded on Jan)

Account 1: No advances on this acc.
Feb: dep 741K, 8 deposits ending 109K, Daily: over 30-40K everyday
Jan: dep 993K 13 deposits ending 59K avg: 30K everyday
Dec: dep 708K 7 deposits ending balance: 47K daily balance: avg 50k+

Acc: 2 (has 2 advances on them)
Dec: 6 deposits 58k ending 27k, no negative
Jan: 9 deposits 360K, ending 25K no negative few days less than 1K daily balance.
Feb: 4 deposits 183K ending balance 87K no negative

**Kevin Henry-Seacoast** · 03-19-2019, 02:54 PM

Originally Posted by patrickw

Hi Guys,

I need 200k 3rd for this deal (NO 1.49 please) Merchant won't go! IOU won;t move forward due to high balance.
Credit: 720, Industry: Security Guard
He has 2 account under same business. He has 2 advances:
Quaterspot: 143K as of today (funded on Feb)
Milligan: $343K (funded on Jan)

Account 1: No advances on this acc.
Feb: dep 741K, 8 deposits ending 109K, Daily: over 30-40K everyday
Jan: dep 993K 13 deposits ending 59K avg: 30K everyday
Dec: dep 708K 7 deposits ending balance: 47K daily balance: avg 50k+

Acc: 2 (has 2 advances on them)
Dec: 6 deposits 58k ending 27k, no negative
Jan: 9 deposits 360K, ending 25K no negative few days less than 1K daily balance.
Feb: 4 deposits 183K ending balance 87K no negative

Patrick,

It there a bank line or factor ahead of the advances? Security Guard companies kinda fall into our staffing bucket. Happy to take a look.

kevin

**mcaguru** · 03-19-2019, 03:12 PM

Patrick -
If all and all fails ...Mantis Funds all day long these scenarios Many are 100K+

**Kevin Henry-Seacoast** · 03-19-2019, 03:20 PM

What this prospect needs is a flexible, cost effective, and large working capital facility. Stacking a low margin business is not the answer.

**Anthony@torro** · 03-19-2019, 03:30 PM

Patrick call me on this one please.

**Lmonus** · 03-19-2019, 03:33 PM

Ide Love to take a crack at this deal.

**mcaguru** · 03-19-2019, 03:35 PM

Originally Posted by kevinhenry0527

What this prospect needs is a flexible, cost effective, and large working capital facility. Stacking a low margin business is not the answer.

I agree Kevin ..I also think every trucker should be able to call his pastor and take 100K interest free vs taking a low cost (yet still costly!!) factor !

**Kevin Henry-Seacoast** · 03-19-2019, 03:42 PM

Originally Posted by mcaguru

I agree Kevin ..I also think every trucker should be able to call his pastor and take 100K interest free vs taking a low cost (yet still costly!!) factor !

The most expensive factors out there are still far cheaper than your money! We have the luxury of a ridiculously low cost of funds, can provide very flexible terms, and give the client the ability to graduate to even better working capital facilities within the same institution.

Based on the deposits mentioned in the original post, the Company is doing north of $8Mil a year in revenue. Are you able to offer the client a $1.5Mil facility with terms less than 15%?

**mcaguru** · 03-19-2019, 03:53 PM

Originally Posted by kevinhenry0527

The most expensive factors out there are still far cheaper than your money! We have the luxury of a ridiculously low cost of funds, can provide very flexible terms, and give the client the ability to graduate to even better working capital facilities within the same institution.

Based on the deposits mentioned in the original post, the Company is doing north of $8Mil a year in revenue. Are you able to offer the client a $1.5Mil facility with terms less than 15%?

precisely why i said (look again) if all else fails...

**patrickw** · 03-19-2019, 05:10 PM

Originally Posted by kevinhenry0527

The most expensive factors out there are still far cheaper than your money! We have the luxury of a ridiculously low cost of funds, can provide very flexible terms, and give the client the ability to graduate to even better working capital facilities within the same institution.

Based on the deposits mentioned in the original post, the Company is doing north of $8Mil a year in revenue. Are you able to offer the client a $1.5Mil facility with terms less than 15%?

Based on what you wrote on the comment, I think we can work together.

**Kevin Henry-Seacoast** · 03-19-2019, 05:13 PM

Originally Posted by patrickw

Based on what you wrote on the comment, I think we can work together.

561-623-1872 is my direct Kevin.Henry@SeacoastBF.com

**mcaguru** · 03-19-2019, 06:43 PM

Kevin is longest and perhaps now ONLY factor that has been consistently on the forum !

**patrickw** · 03-20-2019, 02:59 PM

Can anyone do 1.15 for 3-4 months term on 3rd?

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