Results 1 to 18 of 18
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06-18-2019, 10:01 AM #1
- Join Date
- May 2019
- Posts
- 3
SBA or Line of Credit up to $250k needed ... Business Details Included
Hi -
I am looking for a SBA or line of credit up to $250k for a client who is over using MCA route for funding. He has had a few issues in the past with Bizfi and has around $150k in loans his is looking to consolidate, while have additional funds to hire new employees. Additional Details below
Started business in 2010
Industrial Refrigeration Business
Has taken loans from Everest and Bizfi ... has had a few red flags and had to settle with both at the start of 2018
Looking for funding on a loan consolidation with operating capital
Depositing $75k -$85k per month
$98k owed to Loanme ... IOU $32 .. BizFi / Everest = $5k/$10k respectively = $150k in total
Has not defaulted on these loans and NO Collateral
739-740 FICO scoreLast edited by willgordon; 06-18-2019 at 10:08 AM.
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06-18-2019, 10:06 AM #2
- Join Date
- Feb 2017
- Posts
- 3,464
Hey, that's Gary with the commercial fridge company! I had this file at least 3 times in the last 2.5 years. Anyone else?
Keep in mind he's also factoring already and he has Fundbox
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06-18-2019, 10:11 AM #3
1)you cant put an SBA with a factoring agreement in place as they both want first lien position.
2) no collateral also decreases chance of getting SBA
3) what is the business credit like?
4)if he had to settle with BIZFI and EBF, how did he not default.The Rose Funder l 917.228.4970
bander@therosefunder.com
Highlands NJ 07732
http://www.therosefunder.com
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06-18-2019, 10:13 AM #4
- Join Date
- Jun 2019
- Posts
- 287
Gary Marsh!!!! lmfaooo
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06-18-2019, 10:13 AM #5
- Join Date
- May 2019
- Posts
- 3
Lol you nailed it! It sounds like a lost cause, but figured I would throw it up her to see if there was an opportunity to help him out
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06-18-2019, 10:13 AM #6
- Join Date
- Feb 2017
- Posts
- 3,464
The guy can barely get a bank account BTW due to the BizFi issues, something about checks bouncing. His credit may be 740, but he has one credit card in the $500 range, the rest of the defaults are aged off of his credit report already.
Also, he's in California.
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06-18-2019, 10:22 AM #7
- Join Date
- Apr 2013
- Posts
- 245
Marsh Industrial? Jeez this guy! lol
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06-18-2019, 10:25 AM #8
- Join Date
- May 2019
- Posts
- 3
Thanks for confirming that this is dead and getting a good laugh to start the morning ... this thread is toast!
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06-18-2019, 10:32 AM #9Patrick Wilson
Managing Partner
www.PremierCapitalNetwork.com
(NO MORE LENDER/FUNDER CALL PLZ)
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06-18-2019, 10:56 AM #10
haha Ive had ol Gary Marsh as well a few times i remember this file now lol
The Rose Funder l 917.228.4970
bander@therosefunder.com
Highlands NJ 07732
http://www.therosefunder.com
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06-18-2019, 01:04 PM #11
- Join Date
- Nov 2014
- Posts
- 97
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06-18-2019, 03:02 PM #12
- Join Date
- Apr 2018
- Posts
- 144
Chapter 11
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06-18-2019, 03:04 PM #13
- Join Date
- Apr 2018
- Posts
- 144
Or Dave Ramsey's Debt Snowball and restart lol
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06-18-2019, 03:09 PM #14
- Join Date
- Feb 2017
- Posts
- 3,464
He's not interested in BK, not interested in restructuring, I can speak for Patrick that we are both super-surprised that he took the IOU offer to be honest. He's looking for something long-term. What he's got is pretty good, to be honest.
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06-18-2019, 03:22 PM #15
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Habitual stacker and half of DF has seen the Company......sounds like a gem.....
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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12-08-2019, 09:46 PM #16
- Join Date
- Oct 2018
- Posts
- 9
Mr. Marsh from Salina, CA must be pretty famous in DF. LoL
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12-09-2019, 12:53 PM #17
- Join Date
- Oct 2016
- Posts
- 4,318
Everybody hit that.
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12-09-2019, 02:26 PM #18
- Join Date
- Dec 2017
- Posts
- 238
Gary ****ing Marsh. Legend.
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