Results 1 to 2 of 2
-
09-29-2014, 01:28 PM #1
- Join Date
- Aug 2014
- Location
- New York
- Posts
- 61
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.
-
09-29-2014, 11:26 PM #2
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 730
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
Similar Threads
-
client needs money to pay his owed back rent
By Zach in forum Deal BinReplies: 4Last Post: 09-10-2014, 03:17 PM -
Monetize Your Client Base & Dead Leads
By LeadGrabba in forum PromotionsReplies: 0Last Post: 09-02-2014, 01:34 PM -
Funding for buying existing business
By Make yor luck in forum Business LoansReplies: 0Last Post: 06-30-2014, 06:17 PM -
Buyout and replace existing loans while subordinating their first lien position.
By bdshaw in forum Deal BinReplies: 4Last Post: 06-18-2014, 02:11 PM -
Client has open Chapter 13 on Personal Credit
By 1StopFunding in forum Deal BinReplies: 3Last Post: 05-21-2014, 08:06 PM