Results 1 to 6 of 6
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09-13-2019, 04:49 PM #1
- Join Date
- Dec 2018
- Posts
- 38
Need a complete buy out of a reverse with no assets attached
Monthly Rev: 3.45mm a month
100k plus ending balances
CR: 620
Years in Buss: 11
Industry: Whole sale food
one owner
10 advances adding up to close to 950,000 all short short term
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09-13-2019, 04:59 PM #2
- Join Date
- Jun 2019
- Posts
- 78
$1mm in balances on just MCA, no assets for collateral with 10 advances? To say thats gonna be tough would be an understatement.....
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09-14-2019, 09:43 AM #3
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Certainly may not be impossible though- depends on all the other debt on the balance sheet.
While Cash flow appears decent refinancing 10 advances with another advance is like putting lighter fluid on a fire- and inviting the client to start the stacking process again.
Would need to see last Corporate and Personal return
Debt Schedule
Banks
Application
YTD Interim Financials
to see if there is a real path to making it happen..
Touch base if you wish to: rg@businesscapitalconsultants.com
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09-16-2019, 12:22 PM #4
- Join Date
- Jan 2014
- Posts
- 1,380
if they are wholesaler, they should have decent AR given their amount of monthly deposits. That would be way better way to go to wipe out all those advances in one shot instead of digging them deeper hole to get out of.
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09-16-2019, 02:58 PM #5
- Join Date
- Jun 2017
- Posts
- 2,049
There is one Broker reading this licking his chops....
Yesssssssss..... buy meeee outtttt..... mwahahahahahahahaha
950k on 9 Advances and a Reverse? When he is doing 3.45mill
Credit cant be that solid.
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09-16-2019, 04:20 PM #6
- Join Date
- Aug 2019
- Posts
- 197
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