A few minor challenges

**socalgav** · 10-20-2014, 06:44 PM

I have a restaurant owner who is looking for Money . His annual revenue is approximately $800K. However, there are a few challenges:

He had two restaurant locations with different names/DBA listed under one holding corporation. He sold one of the locations last winter and at the advice of his attorney/CPA, he dissolved the holding entity for liability purposes and established a new holding entity in July. However, he didn’t change the bank account and/or name on the account because Chase allowed it to remain as is since the DBA is listed on the account.

1. Is the recently established entity OK considering the long established DBA?
2. Although the DBA is listed on the bank account, will the bank account be OK considering the name is different than the new corporation entity? Though the DBA is listed on the bank account.

Had an Offer form CAN at 24 months , however the POO was not significant as he has yet to file taxes ( under new entity ) and the Art of Inc were not notarized .

**Eagle Funding** · 10-20-2014, 09:30 PM

I have a few more questions email me the details more clearly please cscuderi@mcamerchant.com

**anydealfunded** · 10-20-2014, 10:31 PM

I could do a cash advance, abl, middle bridge, or maybe bank depending on his FICO and assets. Please email me at henry@mcamerchant or call 7742088118

**bdshaw** · 10-21-2014, 09:03 AM

Depending on the usual credit criteria we could do a term loan depending on why the taxes have not been filed.
The amount would be based on their cash flow.
Bob Shaw
734.929.3800

**socalgav** · 10-21-2014, 10:10 AM

Hello folks I hope to clear this up a bit. Merchant sold company A , but kept the DBA. Was doing Business under the DBA then Started a NEW CORP in AUGUST of this year, taxes have not been done yet has it has not been a year. The bank account he has had both the OLD corporation and the DBA so he never closed the bank account , as Chase let him keep it open since he had both the DBA and OLD corp name.

**BB_Cooper** · 10-21-2014, 02:59 PM

How long has the location the merchant didn't sell been operating?

Robert S Bloink
EVP of ISO Partnerships
Direct: 313-218-4663
Email: bb@cooperasset.com
Web: www.cooperasset.com
logo-01smaller.jpg

**socalgav** · 10-28-2014, 11:48 AM

Would like to thank you all for reaching out, but CAN CAP got this one funded after all.

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