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  1. #1
    Senior Member Reputation points: 47257
    Join Date
    Apr 2013
    Location
    Basalt CO
    Posts
    867

    Home Health Care looking for 20k-60k

    This merchant has the following:
    2 paypal loans for a total of 68k monthly payments 2200
    Blue vine $14k $690 weekly
    Fundbox $10k $717 weekly
    Kabbage $19k $4117 monthly

    He does $1.2 mill a year in gross

    No real estate or hard assets to speak off.
    He wants to get rid of the weekly payments.

    I dont think i can do anything here but wanted to see if there were any other thoughts.
    I put my contact info in here, and
    was bombarded with spam from funders
    if you need to reach me PM me

  2. #2
    Senior Member Reputation points: 4457
    Join Date
    Feb 2014
    Location
    Florida
    Posts
    251

    If it were me I would offer a 7A SBA Loan as a long term solution (up to $500k with no real estate). However, I suspect he won't want to wait, so I would still try to get him qualified at Rapid or some funder that has reasonable rates. Rapid will pay off 2 positions and only offer first position loans, and must net at least 35% of the funds. Here are their latest rules.
    THEY PAY OFF PAYPAL/SWIFT/LOAN BUILDER
    THEY CAN LEAVE KABBAGE AS WELL AS FUNDBOX AND ON DECK LOC PRODUCTS IN PLACE IF AGGREGATE BALANCE IS UNDER $50K
    THEY PAY OFF ALL BLUEVINE POSITIONS OVER 50K THAT ARE DAILY OR WEEKLY – THEY CAN LEAVE MONTHLY PAYMENTS IN PLACE FOR BLUEVINE
    Seems like a viable option in the short term, if it qualifies.... good luck!
    Shannon Harris
    Funding Specialist
    888-705-8818 phone
    239-790-2664 fax
    Shannon@StellarBusinessFunding.com
    www.stellarbusinessfunding.com

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