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08-13-2019, 02:13 PM #1
1 deposit
Who can consider 1 deposit per month? Merchant in Texas has contract with the state and gets over $200k a month.
Good credit
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08-13-2019, 02:17 PM #2
- Join Date
- Feb 2017
- Posts
- 3,463
Factoring should be pursued, and that has nothing to do with credit. I just closed with a client upgrading cell towers in Tulsa (city contracts), and he hasn't done any revenue in the last 3-4 months.
If the credit really is 700+ (that's called "excellent" or "great" not just "good," I know), unsecured LOCs should be pursued.
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08-13-2019, 02:25 PM #3
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08-13-2019, 02:37 PM #4
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- Feb 2017
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- 3,463
So that's easy enough with the right partners.
Classically Quickbridge.
However there are also good banks that provide UBLOCs. Just gotta who they are. Contact me, I'll put you in touch with some of these people.
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08-13-2019, 02:39 PM #5
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- Feb 2017
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- 3,463
Correction: He's not doing the cell towers, he's upgrading the radio towers...
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08-13-2019, 02:45 PM #6
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
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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08-13-2019, 02:45 PM #7
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
State contractor billing $200K/month with good credit should be able to walk into any community bank in Texas and get a $150LOC. There margins are probably 25% and the LOC should be used to cover payroll and only used to cover payroll. When the remittance comes in for the invoice they should pay down the line and draw the next payroll period.
Texas like many other states are required to pay invoices to small contractors within 30 days.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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08-13-2019, 02:48 PM #8
- Join Date
- Aug 2019
- Posts
- 36
Warm Regards,
ABE KAND
Lifetime Funding
ISO Manager
Direct: (516) 604-0602
Address: 585 Stewart Ave Suite L90 Garden City, NY 11530
Website: www.Lifetimefundingllc.com
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08-13-2019, 02:56 PM #9
- Join Date
- Feb 2017
- Posts
- 3,463
Kevin's advice is sagely. Problem is that we're brokers, and we can't make money off of that ;-) Unless Kevin's tell you to just move onto the next file, since client knows that, is already working on doing that, and you just made a cold call, and that's what he responded with.
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