[skideeppow]

i have a merchant who contacted me this AM, Canadian Based, that is bringing in 5million n95 masks. They need to pay up front for the masks.

They are then selling them to a provisional govt in Canada.

They need $8 mil CAD in order to get this complete.

Business has been around for 5 years, did around $2.6 mill CAD gross rev last year.

Any idea where i could send this to get this done in a timely manner?

[Kevin Henry-Seacoast]

I have seen dozens upon dozens of these deals this week. There are too many challenges to get these done right now.
-We don't offer PO funding. we will consider factoring invoices for a distributor or manufacturers of PPE so long as they have a history in the business.
-PO funding can can be expensive right now in general.
-There is a ton of fraud in the industry right now.
-Finance companies have the risk of the masks being confiscated by federal agencies and re-distributed. This is happening a lot.

[Kevin Henry-Seacoast]

Canadian company is something we would not do. I would say try Bibby, but someone told me they shut down their Canadian operations.

[skideeppow]

Thanks Kevin

[michael2100]

PM me

[Red]

Almost did a deal like this, had a direct line with a factory overseas but backed out because there are too many problems with getting this done. Shipping ports are backed up, government is seizing masks at ports and paying "fair market value". factories are inflating costs. shipping costs are through the roof. boat delivery will take up to 4 weeks, air delivery is too costly will end up losing money, unless selling them for a very inflated cost which is immoral so we backed out. just too hairy to get done at the moment.

[abfunders]

I have a lender who was willing to do it. PO was going to be from the Israeli government's entity in NY, to a CA company who has a relationship with 3M. Problem was I never ended up getting the actual PO, I think the government actually cancelled it. The masks were being sold to Israel at a huge markup, going straight from 3M to Israel, they just needed a go-between. Lender I have, borrower I don't.

[@jeannette]

Try Truss - they have been inundate with Mask calls, but I have seen them get a few of them done. There are a lot of people trying to jump in that market and they just don't have the experience so a lot of the deals go nowhere. I have two contacts there and both have been swamped but try them both. Jacob@trusslending.com or joe@trusslending.com
Most PO needs to be secured with Factoring and these on off deals are just that One and Done and they can't secure a factor and they don't have a good exit or the financials to make the PO deal attractive to the lender.

[Kevin Henry-Seacoast]

I have seen in excess of 200 of these deals in the last 10 days. Less less than 10% have any experience what so ever in the industry. Lots of fraud running around AND the Feds have also been seizing a lot of goods. Not a fan of the industry right now unless they have a tone of experience and are selling to government agencies or very large hospitals. We do not do PO financing.....

[michael2100]

I have a friend who is sourcing and financing p.os for hopsitals and government pm me

[MCA]

I have a friend who is sourcing and financing p.os for hopsitals and government pm me

Are they working with LC for these PPE transactions? I know of some govt entities that are looking to purchase with bank and or country issued LC's but I am hearing most real suppliers right now are only dealing in cash.

Let me know if you have a source that can fulfill large govt orders with LC's

Thanks