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  1. #1

    Logistics Company $8 Mill Gross Annual

    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?
    Last edited by lsone; 02-12-2020 at 09:58 PM.

  2. #2
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    Are they already factoring?

  3. #3
    Senior Member Reputation points: 212
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    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?
    This sounds like a deal we like, we come in strong on 2/3rds especially larger files.

    Sent you a PM.
    Eli S.
    FOx Business Funding
    Iso manager
    347. 562. 8796
    elis@foxbusinessfunding.com


  4. #4
    Senior Member Reputation points: 337045
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    Mar 2015
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    Rock Ridge
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    3,453

    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
    Hedley Lamarr......That's Hedley

  5. #5
    We can get this done. Give me a call 848-245-6156

  6. #6
    Senior Member Reputation points: 54975
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    Dec 2013
    Posts
    4,713

    all else fails Mantis would love to add it to the dozens of deals we got in final.
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
    覧覧覧覧覧覧覧覧覧覧覧覧覧
    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  7. #7
    Senior Member Reputation points: 503040
    Join Date
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    4,319

    Quote Originally Posted by Kevin Henry-Seacoast View Post
    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
    This is the way to go, Isone

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