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  1. #1

    Any funders/lenders who would consolidate 4 positions?

    The merchant is averaging over $400,000 for the past 3 months and has 4 advances with a total balance of $160,000.

    The average daily balance for the past 3 months is $92,000.

    The last advance was received back in July of this year.

    Retail with over 2 years in business located in Florida.

    Credit score over 700.

    (No business lines of credit, reverse consolidations, bank term loans or SBA loans)

    Thanks,
    Mike

  2. #2
    Senior Member Reputation points: 216519
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    FYI, you asked for lenders in the subject to consolidate and then excluded them on the last line. If you don't try to consolidate with something normal, the client might do it himself!

  3. #3
    Quote Originally Posted by abfunders View Post
    FYI, you asked for lenders in the subject to consolidate and then excluded them on the last line. If you don't try to consolidate with something normal, the client might do it himself!
    Lenders as in companies like OnDeck, IOU, Fundation who provide short term loans.

  4. #4
    Veteran Reputation points: 134971 Chambo's Avatar
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    This merchant is a perennial stacker. They will take the true consolidation, and come back in three months looking for more money. when tey get declined (too soon), they will go out and stack again

    Who wants to take that kind of risk for $250-350K?

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