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10-18-2019, 08:31 AM #1
- Join Date
- Oct 2012
- Posts
- 142
Advice
We have a merchant that has a string of pizza parlors that is seeking funding. As addressed in an earlier post; the issue is that they are in Chapter 11 for a legal issue. Therefore, they cannot seek any type of MCA or Term Loan because of their filing. One option may be, and this is why we are posting this, is that they use the equipment in the locations for an Asset Based Loan. We have been told, and will receive a spreadsheet showing close to $3M in value, knowing that at a forced liquidation, possibly $.10 on the dollar would be received. So, our question is whether or not a direct Asset Based Lender would look at this deal.
As always, thanks!
Howie Dane
President
Funding Sources for Business
president@fundingsourcesforbusiness.com
(847) 831-4118
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