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  1. #1
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    Fund this ? revenue about 75k

    This is the situation:

    Merchant doing around 70-80 in trucking, has a 35k MCA he wants to get paid off, plus 10k for business capital. He currently pays about 1300 weekly, which he says he cannot afford. He would like a long term deal, around 6 months or so. He delivers mainly for Costo. Can you help?
    Last edited by Iscibibi153; 11-12-2020 at 03:21 PM.

  2. #2
    Senior Member Reputation points: 208
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    no one lol?

  3. #3
    Senior Member Reputation points: 3229
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    If somebody did this deal and gave you the 6 month term weekly you're asking for.... the weekly debit will be north of 2,400 at best. You say he cant afford 1,300 a week.
    Direct Funder | MCA | Public Companies | Convertible Notes | Hard Money
    D. 516-667-6817
    paul@coolidgecapital.com

  4. #4
    Quote Originally Posted by Iscibibi153 View Post
    This is the situation:

    Merchant doing around 70-80 in trucking, has a 35k MCA he wants to get paid off, plus 10k for business capital. He currently pays about 1300 weekly, which he says he cannot afford. He would like a long term deal, around 6 months or so. He delivers mainly for Costo. Can you help?
    No one will go out longer than 6 months on trucking unless he has established a relationship with a lender/funder. If he can't afford 1300/week, he won't be able to afford buyout + netting some cash type deal as it will be 6 months at best.

  5. #5
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    he jsut got offered 53,000.00 52 payments of 1,440.00 =74,880.00, can you beat this?

  6. #6
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    Can anyone beat this offer ? he wants money today

    53,000.00 52 payments of 1,440.00 =74,880.00 trucking..

  7. #7
    Quote Originally Posted by Iscibibi153 View Post
    53,000.00 52 payments of 1,440.00 =74,880.00 trucking..
    That's a pretty good deal for 12 months trucking.

  8. #8
    Senior Member Reputation points: 4262 Magicmike18's Avatar
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    Normally I'd be surprised to hear anyone is doing 12 months on trucking company. However with everything going on currently I'm even more shocked to hear that. Would love to know which lender is offering that?

  9. #9
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    no clue lol

  10. #10
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    Quote Originally Posted by Iscibibi153 View Post
    53,000.00 52 payments of 1,440.00 =74,880.00 trucking..
    You should have closed the deal TODAY! If he needed the money Today -

    if you offered him the same deal tomorrow will he sign the contract?
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  11. #11
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    yes, he said he wants to see if i can beat his current offer.

  12. #12
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    Quote Originally Posted by Iscibibi153 View Post
    yes, he said he wants to see if i can beat his current offer.
    Get the agreement from him... That's always first instinct. If he wont give it to you the offer is most likely fake- if he got it and really wants better he'll send it... I've gotten 12 months on transportation pre-covid many times but haven't came across any recently

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