Results 1 to 11 of 11
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08-09-2019, 06:08 PM #1
- Join Date
- Jan 2019
- Posts
- 117
consolidation deal
I have a restaurant doing 35k, 19k, 32k, 23k, ending balances are 11k, $937, $174, and $180. Credit is
low sixes. Would like to consolidate a credit card split with $8800 balance and a cash advance with $11,000
balance. Needs to lower his daily. Can anyone do?
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08-09-2019, 07:22 PM #2
- Join Date
- Dec 2016
- Posts
- 37
Are the 35K and 32K spikes in revenues organic or from deposits of existing advance and CC split? If so, merchant seems overleveraged and unable to clear enough net for consolidation. Would need more information on credit card receivables over time to determine if this is a candidate for consolidation.
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08-10-2019, 07:08 AM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,956
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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08-10-2019, 03:54 PM #4
- Join Date
- Jan 2019
- Posts
- 117
average cc volume is $9500
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08-10-2019, 03:57 PM #5
- Join Date
- Jan 2019
- Posts
- 117
yes. The spikes were due to a 11000 cc split and 15,000 cash advance. He would like to get payments down. The split is 40% paid down, and cash advance 50%.
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08-10-2019, 04:16 PM #6
- Join Date
- Jan 2019
- Posts
- 117
Maybe a funder who could do a 20% net would work?
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08-11-2019, 11:07 AM #7
- Join Date
- Apr 2014
- Posts
- 781
No way, move on
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08-11-2019, 11:47 AM #8
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,956
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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08-12-2019, 04:48 PM #9
- Join Date
- Jan 2019
- Posts
- 117
could a consolidation of only the cash advance work?
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08-12-2019, 09:56 PM #10
- Join Date
- Jan 2017
- Posts
- 387
Not much to work with on this one. We do offer consolidations and CC splits if you are interested in future deals.
Paul Boxer
Merchant Marketplace
Chief Operating Officer
Chief Revenue Officer
Cell: (516) 805-9209
paul@merchantmarketplace.com
www.merchantmarketplace.com
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08-15-2019, 04:23 PM #11
Consolidation or another advance won't help this merchant. Try a term loan.
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