[exactly1212]

Indiana Maintenance Company 2.4M a year 3 years in business

He's got 4 positions right now, he can't mess with the 1st but wants to consolidate 2nd-4th and get cash if possible.

Nov-Dec are typically his slowest times so his last month statement was for 115K

Also he had 7 nsfs last month, prior to that he averaged 1-3 nsfs or less
Credit is 500tu 523 exp 563 equifax credit is low at the beginning of the month because he runs his personal cards up for the biz

1st is about 4 months left for total of 67K

2nd -4th total 70K about 3 months on each one left. Total amount of loans with payoff is 144K

Ultimately he wants to clean it all up and be able to get to a place where he can qualify for better terms and more money.

Who will do this loan or consider it, and not a 5th position or consolidation.

Thanks

[Yankeeman07]

Indiana Maintenance Company 2.4M a year 3 years in business

He's got 4 positions right now, he can't mess with the 1st but wants to consolidate 2nd-4th and get cash if possible.

Nov-Dec are typically his slowest times so his last month statement was for 115K

Also he had 7 nsfs last month, prior to that he averaged 1-3 nsfs or less
Credit is 500tu 523 exp 563 equifax credit is low at the beginning of the month because he runs his personal cards up for the biz

1st is about 4 months left for total of 67K

2nd -4th total 70K about 3 months on each one left. Total amount of loans with payoff is 144K

Ultimately he wants to clean it all up and be able to get to a place where he can qualify for better terms and more money.

Who will do this loan or consider it, and not a 5th position or consolidation.

Thanks

Any commercial real estate with equity?

[exactly1212]

Hi Dave, unfortunately not. Thanks for asking.

[Yankeeman07]

Hi Dave, unfortunately not. Thanks for asking.

Why cannot the current 1st be touched?

[exactly1212]

It's with a lender who has specific guidelines about stacking, so he would be in for hefty penalty should he go to pay it off and they got wind of him having 4 position. It's one of the A paper lenders, I will say that much. I think I may have found a solution though. Private investor min loan amount 500K wraps up all business debts etc. Rate of 6-7.5% over 10 to 20 years. Going down the road now to see if it's a fit.

[BCP Funding]

Hello,

We may be able to help out on this one. We typically do larger 2-4th offers with buyouts of 2-3 positions.

It looks like this merchant has some seasonality to his business and the approval would be based on his payback months and A/R coming up in the first quarter of 2020.

Give me a quick call if you would like to discuss the file in more detail

Erik Marin
Senior ISO Relations Manager
E: Erik@bcproviders.com
O: 888-255-1819 Ext. 201
D: 954-364-7909
F: 954-534-9267
2501 Hollywood Blvd. Suite 210
Hollywood, FL 33020
Find Us on Google Maps
https://bcproviders.com/

[exactly1212]

Thanks Erik. I will give you a shout.