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  1. #1
    Member Reputation points: 10
    Join Date
    Oct 2020
    Location
    Kansas City, MO
    Posts
    6

    $12M loan needed for a Payment Processing Company

    Good morning all. I am currently looking for a lender that can help with this deal.

    ---------------------------------------------------------------------------------------------
    The Company is seeking a $12,000,000 loan to repurchase about 75-80% of their sales agent’s
    residuals.

    Company Industry: Credit Card Processing, POS sales, payment services to SME
    Market

    Requested Loan Terms:
    Loan Amount: $12,000,000
    Term: 6 year (P+I in years 2-6)
    Interest Only: 1st year
    Rate: 14.75% / 14.95% on 360 day basis

    Use of Proceeds: Acquire internal Sales Agent Residuals (COGS) only

    Prohibited Use of Proceeds:

    Any operating expenses of Borrower, including but not limited to salaries, bonuses, dividends, disbursement for expenses, etc.

    Prepayment Penalty: 0%

    Security:

    UCC-1 on all business units, control of disbursements from bank accounts, in the event of default Irrevocable assignment of monthly cash disbursements from processor (3 party
    agreement: lender, processor and borrower)

    Funds Disbursement:

    As borrower provides Repurchase of Residual agreement, along with corresponding documentation, executed by Sales Agent and Borrower. Not less than $100,000 per draw

    Monthly Monitoring Fee:

    $2,500 monthly, payable to Lender

    Audited Financials: Yes

    Financial Summary Pro Forma (YTD 2020 through June 2020)

    Prior to Loan Post Loan
    Gross Revenue $14,095,468 $14,095,468
    Less
    Processing Costs $9,638,244 $9,638,244

    Independent Sales Agents
    Residuals * $2,450,909 $ 350,909

    Equals Gross Profit $2,006,315 $4,106,315
    Less SG&A $1,127,872 $1,127,872
    Net Income from Operations $ 878,443 $2,978,443

    *Based upon the 6 month ytd figures; purchase approximately $2,100,000 ($350,000 monthly
    or $4,200,000 annually) of Sales Agent Residuals using the Loan proceeds.

    The borrower intends to repurchase $350,000 to $400,000 of monthly sales residual at
    $12,000,000 as the monthly P+I pmt will be $285,480 plus any monthly loan fees.
    -----------------------------------------

    Let me know if you can help me find a lender for this deal.

    Thank you,
    Alex Trigg
    Director of Commercial Lending

    Strategic Capital
    816.287.3808
    atrigg@capitalwithstrategy.com
    www.capitalwithstrategy.com

  2. #2
    Senior Member Reputation points: 337045
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    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    Alex-Check your email....
    Hedley Lamarr......That's Hedley

  3. #3
    Member Reputation points: 10
    Join Date
    Oct 2020
    Location
    Kansas City, MO
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    Thank you Kevin!
    Alex Trigg
    Director of Commercial Lending

    Strategic Capital
    816.287.3808
    atrigg@capitalwithstrategy.com
    www.capitalwithstrategy.com

  4. #4
    Senior Member Reputation points: 23750
    Join Date
    Aug 2014
    Posts
    194

    Have them call Super G Capital/ Darin Ginsberg, this is what they do.

  5. #5
    Member Reputation points: 10
    Join Date
    Oct 2020
    Location
    Kansas City, MO
    Posts
    6

    Quote Originally Posted by MCA View Post
    Have them call Super G Capital/ Darin Ginsberg, this is what they do.
    Will do. Thank you for letting me know.
    Alex Trigg
    Director of Commercial Lending

    Strategic Capital
    816.287.3808
    atrigg@capitalwithstrategy.com
    www.capitalwithstrategy.com

  6. #6
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Super G is now SG Credit Partners

  7. #7
    Senior Member Reputation points: 337045
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    Mar 2015
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    Quote Originally Posted by Alex Trigg View Post
    Thank you Kevin!
    My pleasure! It's been a while since I have done some investment banking work in the industry, but those two firms I mentioned are certainly worth calling.

    Now-Find me a big ass staffing company! I want to win another big client before the end of 2020.
    Hedley Lamarr......That's Hedley

  8. #8
    Quote Originally Posted by Alex Trigg View Post
    Good morning all. I am currently looking for a lender that can help with this deal.

    ---------------------------------------------------------------------------------------------
    The Company is seeking a $12,000,000 loan to repurchase about 75-80% of their sales agent’s
    residuals.

    Company Industry: Credit Card Processing, POS sales, payment services to SME
    Market

    Requested Loan Terms:
    Loan Amount: $12,000,000
    Term: 6 year (P+I in years 2-6)
    Interest Only: 1st year
    Rate: 14.75% / 14.95% on 360 day basis

    Use of Proceeds: Acquire internal Sales Agent Residuals (COGS) only

    Prohibited Use of Proceeds:

    Any operating expenses of Borrower, including but not limited to salaries, bonuses, dividends, disbursement for expenses, etc.

    Prepayment Penalty: 0%

    Security:

    UCC-1 on all business units, control of disbursements from bank accounts, in the event of default Irrevocable assignment of monthly cash disbursements from processor (3 party
    agreement: lender, processor and borrower)

    Funds Disbursement:

    As borrower provides Repurchase of Residual agreement, along with corresponding documentation, executed by Sales Agent and Borrower. Not less than $100,000 per draw

    Monthly Monitoring Fee:

    $2,500 monthly, payable to Lender

    Audited Financials: Yes

    Financial Summary Pro Forma (YTD 2020 through June 2020)

    Prior to Loan Post Loan
    Gross Revenue $14,095,468 $14,095,468
    Less
    Processing Costs $9,638,244 $9,638,244

    Independent Sales Agents
    Residuals * $2,450,909 $ 350,909

    Equals Gross Profit $2,006,315 $4,106,315
    Less SG&A $1,127,872 $1,127,872
    Net Income from Operations $ 878,443 $2,978,443

    *Based upon the 6 month ytd figures; purchase approximately $2,100,000 ($350,000 monthly
    or $4,200,000 annually) of Sales Agent Residuals using the Loan proceeds.

    The borrower intends to repurchase $350,000 to $400,000 of monthly sales residual at
    $12,000,000 as the monthly P+I pmt will be $285,480 plus any monthly loan fees.
    -----------------------------------------

    Let me know if you can help me find a lender for this deal.

    Thank you,
    have a guy who has done this before dm me

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