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11-12-2019, 06:51 PM #1
- Join Date
- Feb 2017
- Posts
- 3,426
US/Canadian Large deal
I have US entity, doing large numbers, but CEO with 20% ownership is the only one who can/will sign for this, everyone else (about 12 members) is 10% OR LESS. And that CEO and the manager with combined 30% are both Canadian with E2 visas.
Cash advance is the right move for this client, bank is taking too long to close and they need to move now (they were late setting this up, for sure). They really only need the money until February when they'll start doing 8x their current revenue. I can get authority from the LLC to give fiscal responsibility, but underwriting at a few places won't even look at it until they see 51% ownership.
Suggestions? Post here, or email me with ideas, please don't call, I'll call you back if you have something to offer.
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11-12-2019, 07:14 PM #2
- Join Date
- Jan 2014
- Posts
- 1,374
hmmmm not sure how much your merchant needs, but Cancapital used to only need 5% ownership. not sure if thats still requirement as well haven't used them in a while.
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11-13-2019, 09:20 AM #3
- Join Date
- Dec 2018
- Posts
- 28
IOU MIGHT do it . "Might" being the key word here. Good luck.
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