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05-23-2019, 12:39 PM #1
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- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,509
Interesting conversation......
I received a call from a broker that after doing a little research also boosts about being a direct "lender".
Broker: Hey Man, you do factoring stuff right?
Me: Yes-We offer factoring and asset based lines of credit.
Broker: Hey Man-I got this guy a few advances and now he's having trouble making payments. Can you help him out?
Me: We might be able to provide a facility that pays off all the outstanding advances and provides a flexible working capital facility going forward. How many advances did you get him? What is owed ? What industry?
Broker: He had one before I got him three more. About $240K is owed in total. I am not sure exactly what they do. I think they manufacture stuff.
Me: Do you have a recent AR Aging or Income Statement & Balance Sheet that shows the AR outstanding? How much revenue did they do last year?
Broker: I have an income statement. They did 4Mil last year. He has $770K outstanding.
Me: We might be able to help, but I need to learn more about the Company. Can you see if they are available for a call tomorrow at 1PM?
Broker: Sure. Hey Man, How much do I get paid and if you can refinance all the stacks, can I stack you.
That's when I hung up.....Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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