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04-03-2020, 11:27 AM #1
- Join Date
- Apr 2020
- Location
- Broomall, PA
- Posts
- 123
REFINANCE ALL MERCHANT CASH ADVANCES TO A TERM LOAN w/ FIXED APR AND ONE MONTHLY PAY
REFINANCE ALL MERCHANT CASH ADVANCES TO A TERM LOAN w/ FIXED APR AND ONE MONTHLY PAYMENT
Pre-Qualification Requirements (listed on our application & answer in 24 to 48 hours):
Names of all MCA Companies owed
Total Amount Owed to each MCA company
Daily Payments to each MCA company
Status with each MCA company (current, default or currently in seizure/garnishment)
A current AR aging report
A current AP aging report / debt schedule
Interim P/L and Balance Sheet and previous year P/L and Balance Sheet
Last 12 months of bank statements
Completed loan application & documents listed on application (all listed requirements on last page)
MCA & Business Debt Refinancing General Loan Terms (typically 4 to 7 business days for full underwriting):
Refinance all of your current merchant cash advances into ONE MONTHLY PAYMENT
Save 50% to 90% on your total current monthly payment amounts
Re-amortize your advances to a 2 to 3 year amortization schedule
Working capital at closing is possible and determined in underwriting
Loan size (all outstanding advances must total a minimum of $150k up to $5mm+)
Anticipated annual interest rate (25% to 29%) (equivalent to a 12 month MCA with a factor of 1.25)
Anticipated average loan terms (1 year term with a balloon payment and renewable; 2 to 3 year amortization)
Personal & Spousal Guarantees required by all owners with more than 5% interest in Company
Stock pledge & UCC-1 lien filing
Sufficient receivable and/or asset coverage for the loan (determined in underwriting)
End of term refinance program options to renew or qualify for a new operating line of credit or term loan
Contact me for more details:
Stefan M. Bernarsky
Chief Investment Officer
KANJORSKI PARTNERS, LLC
Cellphone: 570-862-7279 call or text
www.kanjorskipartners.com/refinance
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