Results 1 to 21 of 21
-
09-27-2019, 08:20 AM #1
- Join Date
- Jul 2019
- Posts
- 17
400K contract with the city need 40K short term advance
A cleaning company just got a $400K contract with the city,only $10K in deposits , they need $40K working capital their contract pays them $44K a month.
-
09-27-2019, 09:40 AM #2
- Join Date
- Jun 2014
- Posts
- 541
City pays Net 30, or?
Robert S Bloink
EVP of ISO Partnerships
Direct: 248-341-9477
Email: bb@cooperasset.com
Web: www.cooperasset.com
-
09-27-2019, 10:23 AM #3
- Join Date
- Apr 2014
- Posts
- 781
Work hasnt been performed yet
-
09-27-2019, 10:26 AM #4
- Join Date
- Feb 2017
- Posts
- 3,463
I'm doing a file like this now, $650,000 contract with NY, funded $150,000 in $50,000 tranches.
-
09-27-2019, 10:34 AM #5
- 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
-
09-27-2019, 10:36 AM #6
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Hey Mike.. Understanding that prior to now the client was doing 10k per month and moving forward they will be billing NYC 44k correct?
Is there any other debt on balance sheet now? IS the guarantor credit worthy? Were they profitable in 18 (and also YTD)? If yes to questions (unless there is a large bank note) then yes to being able to secure Capital they need.
Contracts must have a firm start date- and be verifiable. Touch base with Jared Lagemann our Partnership Director- jared@bccusa.com or call him on mobile 435-513-9010 to discuss.
RG
Business Capital Consultants USA
3237 Route 112 Suite 9
Medford, NY 11763
www.bccusa.com
-
09-27-2019, 10:59 AM #7
Try loanme. If their balances are decent 3-4k average bank balances they should get that amount. Then use some credit cards
-
09-28-2019, 08:55 AM #8
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
-
09-28-2019, 11:44 AM #9
You must have inside information original post did not mention a city. Loanme is most likely the fastest route
-
09-28-2019, 11:56 AM #10
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
-
09-28-2019, 12:09 PM #11
-
09-28-2019, 12:10 PM #12
-
09-28-2019, 02:35 PM #13
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
brokerCompany,
Since UBC Funding is from NYC and post said, 'The City', I took that to mean New York City- seems to be likely- you'll probably agree. Why else would he say, 'the city?' What other city?
Happy that you are so pleased with Loanme- we recommend clients to them as well-when appropriate
-
09-30-2019, 07:28 AM #14
- Join Date
- Aug 2019
- Posts
- 197
-
09-30-2019, 09:20 AM #15
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Usury Law- in some states it is illegal to charge over a threshold APR. In NY for instance it is a civil and criminal offense to charge more 24% interest. Hence 'purchase of future receivables'- NOT a Loan
-
09-30-2019, 09:25 AM #16
- Join Date
- Aug 2019
- Posts
- 197
-
09-30-2019, 09:52 AM #17
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Combination of Loan (against property) with purchase of future receivables
-
09-30-2019, 10:32 AM #18
- Join Date
- Jul 2019
- Posts
- 17
They start today
-
10-02-2019, 04:20 PM #19
- Join Date
- Aug 2019
- Posts
- 197
yea Richard Gusmano is way too busy to look at your file directly, being that he is the CEO and Founder and all
But just reach out to Jared directly and skip the broker fees for going through Richard.
http://www.parkcitymortgage.com/lo_jared_lagemann.php
Jared Lagemann Sr. Loan Consultant
Jared moved his family to Park City in 2007 from the Tampa Bay, Florida. He has been originating loans for over 9 years and continues to service his clients in Florida along with those in the Park City Area. He has been involved in financial services for over 20 years. Jared was an equities trader and investment advisor for a major financial firm prior to the move to mortgage banking and continues to stay involved in the capital markets. His experience with high net worth clients and their particular corporate and personal situations has been a great addition to our team. The primary reason for his success comes from his personal investment in all of his clients loans. From the initial application through closing all loans are treated as if they were his own. He understands the underwriting guidelines in todayT ever changing marketplace and has never originated a loan that did not close!
Email Jared at Jared@parkcitymortgage.com
NMLS #315243
UT MLO #7734669
http://www.parkcitymortgage.com/lo_jared_lagemann.php
-
10-02-2019, 04:26 PM #20
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
-
10-02-2019, 04:31 PM #21
- Join Date
- Aug 2019
- Posts
- 197
Similar Threads
-
Company with a $400K city contract only $10k deposits needs $40k
By mike@ubcfunding.com in forum All Other LendingReplies: 0Last Post: 09-26-2019, 10:01 PM -
Short term deals
By DTFdowntofund in forum Merchant Cash AdvanceReplies: 4Last Post: 01-10-2019, 10:31 AM -
Need Short Term Lender
By BW Capital Solutions in forum Deal BinReplies: 8Last Post: 12-28-2015, 06:40 PM -
Short Term Loan
By wally in forum Business LoansReplies: 6Last Post: 08-05-2015, 12:04 PM -
How many cash advance and short term business loan lenders are there ?
By amikassar in forum Merchant Cash AdvanceReplies: 4Last Post: 07-03-2014, 02:28 AM