Results 1 to 5 of 5
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09-10-2019, 02:50 PM #1
- Join Date
- Jan 2018
- Posts
- 92
Question about equipment purchase
Hey guys,
I am talking to a merchant that has good credit (750) and just has a loan with Chase. Does $3mil annually
Been in business for 40 years and is a home audio store
They are looking to buy a brand new speaker from a manufacturer that is worth $170k and would get a discount if he pays with cash.
I was pitching the merchant a funding circle loan, but he doesn't want to sign a PG.
Let me know your thoughts on something like this please.
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09-10-2019, 03:35 PM #2
- Join Date
- Aug 2019
- Posts
- 43
Amiran5,
We would need to see 3 years of financials, 3 years of tax returns, a debt schedule, 3 months of banks statements and a interim financial statement with a comparable. We are able to do leases where there is no PG.
We would advance the merchant/lessee, whatever the invoice said for the equipment, $150,000 to $170,000.
I would love to discuss further.
Phone. 847-784-0011
Email. CalFalkenhayn@elgallc.com
Regards,
Cal FalkenhaynCal Falkenhayn | Senior Account Executive
Equipment Leasing Group of America
211 Waukegan Road, Suite 100 |Northfield, IL 60093
O: 847-784-0011 | F: 847-784-0066 | M: 847-922-2729
calfalkenhayn@elgallc.com | www.elgallc.com
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09-10-2019, 03:40 PM #3
- 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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09-10-2019, 05:24 PM #4
- Join Date
- Jan 2018
- Posts
- 92
Thanks guys
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09-11-2019, 11:07 AM #5
- Join Date
- Jul 2015
- Posts
- 168
Is the Chase loan one of those dailies/weeklies through OnDeck? If so they had to sign a PG on that.
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