Results 1 to 7 of 7
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12-06-2019, 01:33 PM #1
- Join Date
- Dec 2019
- Posts
- 9
Maintenance Company 2.4 Million AGR
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
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12-07-2019, 07:34 AM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,996
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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12-07-2019, 12:52 PM #3
- Join Date
- Dec 2019
- Posts
- 9
Hi Dave, unfortunately not. Thanks for asking.
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12-07-2019, 01:16 PM #4
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,996
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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12-07-2019, 01:53 PM #5
- Join Date
- Dec 2019
- Posts
- 9
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.
Last edited by exactly1212; 12-07-2019 at 01:54 PM. Reason: Needed to add more to my response
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12-09-2019, 12:43 PM #6
- Join Date
- Nov 2019
- Posts
- 5
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/
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12-09-2019, 07:46 PM #7
- Join Date
- Dec 2019
- Posts
- 9
Thanks Erik. I will give you a shout.
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