I have a client who is looking for $7M.

He needs $2M in cash and a $5M letter of credit. The letter of credit will be used to create a captive and then once the captive is formed will be released back the lender never having to come out of their pocket.

The $2M will be used to merge with an existing Payroll company generating about $70M a year. Obviously that is not all their money since it is a payroll company.

He has a very intricate and detailed plan that makes complete sense to have this loan repaid in less than 2 years.

Any takers?