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10-07-2019, 05:30 PM #1
- Join Date
- Jul 2019
- Posts
- 17
$400k contract with the city pays $44k a month net 60 days need advance $20-$40k
My client has a new city contract they started last week that's for 9 months that pays them $44k a month total is $402,000 they need an advance of $20 to $40K there deposits are $10 to $12K This contract they just landed will put them on the map - lets make a deal they have a standing renewal with this Organization for 3 years
This is a lucrative contract worth $3 MillionLast edited by mike@ubcfunding.com; 10-07-2019 at 05:48 PM.
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10-07-2019, 05:33 PM #2
- Join Date
- Feb 2017
- Posts
- 3,429
Mike, I sent you an email about this 11 days ago
I can probably get him $80,000 and get him factored. Put a fee agreement in place, make 3-4 points, get some residuals.
I'm doing this now with a construction company, it's working really well. He has (so far) one $650,000 contract with NYC, and another $3mm contract up-coming.
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10-09-2019, 07:11 AM #3
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Morning Micah... Curious about this: If the group has not performed services yet, how can an invoice that hasn't been completed be leveraged/sold to a third party?
What happens if there is a delay in the start date of the contract?
As for the initial 80k you mentioned: assuming that is a purchase of future receivables based on contract- How can that amount exceed the 44k contract monthly billing by such a large margin, since their prior sales are only 10k per month?
Terrific that you have had success with a NY based Construction deal- but numbers don't make sense to me on this one. What am I missing?
RG
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