Existing client wants to finance gov't invoices
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  1. #1
    Member Reputation points: 1336
    Join Date
    Aug 2014
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    New York
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    Spot factoring gov't invoices

    Spot factoring needed. We have an existing client who has approx $100k tied up in two invoices from state government contrats that they are looking to finance against. Work has been completed and shipped. (1) $39k invoice and (1) $58k invoice. The $39k work is for a new gov't client and the $58K is from a department that has ordered from them several times.

    Manufacturing. $3.5mil annual gross. $100k+ monthly cc processing. We own the processing. Funded an mca
    (ach) for $40k at 1.30 a few months ago. Not stacked, never stacked, and we won't let him stack. He isn't interested in anything over what would equate to >1.22 on these invoices. Suggestions?

    888-345-3053

    No trolls. Call me, DON'T PM because I probably won't see it.
    Last edited by SimplyMark; 09-29-2014 at 10:53 PM.
    Mark S.
    Simply
    (646) 661-2300
    Mark@simplymca.com
    www.simplymca.com

  2. #2
    Senior Member Reputation points: 16709
    Join Date
    Jul 2014
    Location
    Jackson Hole Wy
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    726

    It depends how long the invoices will be out and how the contract looks with the government.
    We would take a look at spot factoring with an advance at 70%
    Ben
    bzuniga@omegafund.com

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