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  1. #1
    Senior Member Reputation points: 17055
    Join Date
    Dec 2013
    Posts
    562

    Transportation Company Just Recovering From IRS Levy Needs $60K

    This company used to do an easy $230K/mo (AND IS HEADING BACK THERE!)
    recent IRS levy of over $150K in payroll taxes resulted in terrible business pain.

    Bank statements dropped below $40K deposits in Sept because the merchant gets paid from the State so the funds never even made it to the bank account.

    Right now, payment plan is in full effect. No more levy whatsoever. Merchant did over $80K last month.

    Seeking $60K working capital BUT will not do 1.49s (I already tried & offered).

    Credit is in low 500s but mainly due to IRS complications.

    Please PM if you think you can get something done at a decent term (no 80-100 payments). Needs min 7 months.

  2. #2
    Senior Member Reputation points: 61233
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    1,382

    Credit in low 500's and the merchant is attempting to dictate terms?

    Merchant generated $80K Gross and wants roughly 70% of their revenue in unsecured capital?

    Are they serious?
    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    http://www.fcbankcard.com
    1-727-291-7890 (Text or Leave Message)
    Office: 727-233-1111

  3. #3
    Senior Member Reputation points: 14294
    Join Date
    Apr 2014
    Posts
    756

    At least u didnt tell him sba loan

  4. #4
    Senior Member Reputation points: 61233
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    1,382

    Quote Originally Posted by golf2014 View Post
    At least u didnt tell him sba loan
    In many instances an SBA Loan is a good option - Commissions are low compared to MCA, therefore an SBA is not offered
    by Brokers .
    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    http://www.fcbankcard.com
    1-727-291-7890 (Text or Leave Message)
    Office: 727-233-1111

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