Results 1 to 7 of 7
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10-05-2019, 12:19 AM #1
- Join Date
- Sep 2019
- Posts
- 2
Need Lender willing to buyout 2 positions 160K Balance Monthly volume 1+M
Merchant qualifies for 400-500K advance.
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10-05-2019, 12:28 AM #2
- Join Date
- Jul 2015
- Posts
- 1,202
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10-05-2019, 12:54 PM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,952
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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10-05-2019, 07:57 PM #4
- Join Date
- Sep 2019
- Posts
- 2
Cant go to SBA over 1M in payment plan with IRS.
1st position original funding amount was 365K current ballance around 110K
2nd position original funding amount was 135K current balance around 50K
Merchant has been offered many options on 2nd position buyout and/or a 3rd position. Merchant is only interested in one payment. Looking for 400K with a 9 month term minimum.Last edited by romeo@nebulafinancial.com; 10-05-2019 at 08:04 PM.
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10-06-2019, 12:08 AM #5
- Join Date
- Apr 2017
- Location
- Orange County, CA
- Posts
- 93
Maybe Quarterspot or IOU depending on credit of course.
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10-11-2019, 09:14 PM #6
- Join Date
- Mar 2019
- Posts
- 95
On that note if they qualify for such an advance wouldn’t they qualify likely for a much better product?
A co-broker today brought me a lead like this, 300-500k advance.
Sure but he qualified Bc he has 400k deposits and is profitable etc so why not get him a real loan lol?
Broker answer pretty much “uh well what’s commission on sba loan?”
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10-12-2019, 08:32 AM #7
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Clients CAN qualify for Bank or Small Business Administration Loans- with an IRS Payment plan- as long as the payment fits into their Debt Service Coverage. If the amortization on the payment plan is short (say 36 months or less) the coverage to payback anyone else becomes challenging depending on profitability, accounting, shareholder comp etc.
If there is a legitimate path into a loan- we work with groups that will be HAPPY to Bridge the gap and make money by buying out both positions, and allowing the client to net the cash they need.
On files like this we need to see 2 years personal and corporate returns, PFS, YTD Financials, copy of the payment plan with IRS, and debt schedule. After we review file, do a soft pull on credit and lien search, our Partner can Fund the client (purchase of future receivables) within 3 days.
Please feel free to touch base if you would like assistance or additional perspective.
Business Capital Consultants USA
3237 Route 112 Suite 9
Medford, NY 11763
631-880-7501
richard@bccusa.com
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