Results 1 to 7 of 7
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10-29-2019, 10:51 PM #1
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- Jun 2019
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Who can fund more than $10 million using a $100m purchase order from the gvmt?
He has paperwork from the VA and the DOD directly on this deal validating the $98M purchase order and needs $25M over the next 12 months to fill the order and he has a 7 year contract to do the same order every year. Since 2011 he has put in a about 7.5M into the business already. He has been a trauma surgeon for the last 20 years with a $700k salary and now is focusing more time on his business! His credit is in the 680's.
The time line of this deal to get it ready to be shipped is 12-18 months so he won’t receive any income on this deal until it ships so we would need either a big line of credit that they can pull from as they are producing the product and that the fees or payments can be pulled from as well. Or we would need a deferred payment for 12-18 months as he would only be able to afford a payment for the first 12-18 months of less than $10,000 if needed and then can pay off the full balance once the customer (U.S government) gets the shipment and makes the payment.
The schedule of funds needed are as followed
Day 1 is $5M for getting the formula, some equipment they need, getting everything ready to be able to submit to the FDA for approval
6 months in $5M for testing, validation and procurement of all the raw materials for the order
1 year mark $10M to produce the products for the order to be shipped to the customer which is the U.S government at which point they will pay him $98M upon receiving the shipment.
Keep in mind this is just the first year order, there will be many more moving forward as they have a 7 year order minimum so there is a lot of room to fund a lot more money over the next 7 years.
He has 250 acres of vacant land near Daytona beach worth $2.5M free and clear
Personal house $2M still owes $1M
Total of 18 acres of industrial land in Martin county FL worth about $5M free and clear
Then about another million worth of land and real estate.
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10-30-2019, 12:21 PM #2
Sent you a PM
Nick Hubbard
Senior Loan Advisor
314-252-0299 - Office
314-885-2262 - Direct
nick@elitefactoring.com
www.elitefactoring.com
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10-30-2019, 12:27 PM #3
Reputation points: 232300
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- Feb 2017
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There may be a way to get him a term loan that has a one-time payment at the end of the year, using the government's contract as the collateral. That's without the land as collatearl.
Send me an email, I think I can help you out with this one.
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10-30-2019, 12:37 PM #4
Reputation points: 340558
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- Mar 2015
- Location
- Boynton Beach
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- 3,501
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
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10-30-2019, 12:54 PM #5
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- Jul 2014
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- Jackson Hole Wy
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10-30-2019, 12:58 PM #6
Reputation points: 232300
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Yeah, cancel my post. I saw "PO" and thought it meant "contract"
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10-30-2019, 01:54 PM #7
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- Mar 2016
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Sent you a PM
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