[Bps367]

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.

[abfunders]

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?

[Bps367]

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.

[abfunders]

Did you try the regular A-paper places? Seems like a slam dunk?

[Hedley Lamarr]

Most traditional and non tradition lenders and funders are avoiding anything tourism related.

[Bps367]

most traditional and non tradition lenders and funders are avoiding anything tourism related.

this

[abfunders]

this

Always need to post the "WHY" on the forum.
Firstly, is there any real estate?
Secondly, how's the credit?

[Bps367]

No RE. 750+ scores.
“WHY” is because many have temporarily restricted tourism related businesses due to Covid. Not all.

[abfunders]

No RE. 750+ scores.
“WHY” is because many have temporarily restricted tourism related businesses due to Covid. Not all.

Send me an email, I'll connect you with the people who can do this as a personal unsecured loan, with MONTHLY payments. If they don't like that, then they can do it as a business loan as well, but, like you said, tourism might be restricted.

[Connor Winn]

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)

[Ricky Belle]

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?