Results 1 to 11 of 11
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11-11-2020, 09:10 AM #1
- Join Date
- Nov 2020
- Posts
- 5
Bus Charter Co
Was doing $4mil a year. Covid cut rev down to half around $2+mil. Seeking $250-300k on weekly payment for 12 months. 1st position. A paper. Need very competitive rates.
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11-11-2020, 09:21 AM #2
- Join Date
- Feb 2017
- Posts
- 3,463
Definitely look into a factor. Could be they're getting paid on terms.
Why wouldn't a standard A-paper funder do this? Have you tried with the regular places like OnDeck, IOU, National, Bluevine, etc?
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11-11-2020, 09:29 AM #3
- Join Date
- Nov 2020
- Posts
- 5
I asked the owner. Groups book them to visit DC/NY touristy areas and they get paid upfront at the time of booking, so no 30-60-90 day invoices really for factoring purposes.
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11-11-2020, 09:38 AM #4
- Join Date
- Feb 2017
- Posts
- 3,463
Did you try the regular A-paper places? Seems like a slam dunk?
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11-11-2020, 09:51 AM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Most traditional and non tradition lenders and funders are avoiding anything tourism related.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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11-11-2020, 10:24 AM #6
- Join Date
- Nov 2020
- Posts
- 5
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11-11-2020, 10:27 AM #7
- Join Date
- Feb 2017
- Posts
- 3,463
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11-11-2020, 10:30 AM #8
- Join Date
- Nov 2020
- Posts
- 5
No RE. 750+ scores.
“WHY” is because many have temporarily restricted tourism related businesses due to Covid. Not all.
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11-11-2020, 10:34 AM #9
- Join Date
- Feb 2017
- Posts
- 3,463
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11-11-2020, 01:01 PM #10
- Join Date
- Nov 2020
- Location
- Santa Barbara
- Posts
- 2
They very well may qualify for my firm to help fund them. Shoot me an email: cwinn@alantes.com to discuss further. (We pay generous referral fees)
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11-11-2020, 06:34 PM #11
If revenue is still the same its poss. Reach out if you cant get it done however my rates will be on more of a Dbank level. Do you have credit?
Ricky Belle
Rapid-BC ( Direct Funder!)
President.
201-600-7411
Rbelle@tmfcapitalgroup.com
http://rapid-bc.com
http://fundrycap.com
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