Quote Originally Posted by lsone View Post
Looking for 500K, merchant wants to consolidate some MCAs and net some capital.

Credit 790
Monthly Deposits approx 800k
Average Balances approx 100k

Has 2 MCAs totaling about 27K in payments a month. (one weekly, one daily)
1 monthly loan paying 24K monthly. (approx 320K balance)
1 monthly loan paying 4.5k monthly


Ideally wants to pay off the 2 MCAs and 1 monthly total balance approximately 150k and net the rest. Leaving 1 monthly loan which is at about 320K. Anyone do this?
Isone,

Sound like a $1Mil factoring facility to me. We are a factor and asset based lender that is a division of a bank. We could potentially clean up the not-so cost effective advances and provide plenty of liquidity going forward in a revolving facility.

Best,

KH