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03-04-2020, 05:08 PM #1
- Join Date
- Apr 2017
- Location
- Orange County, CA
- Posts
- 90
2nd Position Software company - ok a/r but bad deposits in Feb
Client has 4 big projects in the pipeline, needs 100-150k second position.
First position is a NEWTEK loan for 228k
Feb was superlight
Feb 1 deposit for 7500 (yes less than 8K)
Jan 3 deposits for 62k
Dec 3 Deposits for 250K
November 3 deposits for 125k
Outstanding A/R is 450k
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03-04-2020, 05:13 PM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,483
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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03-05-2020, 06:47 AM #3
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
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03-05-2020, 08:26 AM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,483
No. We would have to have enough availability to pay them off or have them subordinate behind us....which they have done.
Here in-lies the pitfalls of using SBA loans to finance working capital for a growing company. Eventually you will hit a wall if you do your job right.Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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03-04-2020, 05:15 PM #5
- Join Date
- Dec 2013
- Posts
- 4,713
you can try Mantis ... A/R helps at mantis ... it can go either way ..I get complimentary emails all the time hey Marcus mantis just funded a file no one else wanted to touch or for the amount.
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
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03-05-2020, 10:59 AM #6
- Join Date
- Jan 2017
- Posts
- 387
We could help with this file.
Paul Boxer
Merchant Marketplace
Chief Operating Officer
Chief Revenue Officer
Cell: (516) 805-9209
paul@merchantmarketplace.com
www.merchantmarketplace.com
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