Results 1 to 8 of 8
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12-07-2020, 11:04 AM #1
- Join Date
- Oct 2020
- Posts
- 28
Manufacturer seeking a consolidation with or without additional cash
Hello Friends,
I've got a client who needs a consolidation. He has been in business from 2014. did over 1 million last year. has 4 MCA loans totaling 55k. in November he earned and deposited 125k , 60k in October and 79k in September. Client has 2 prior defaults from different MCAs than the ones he currently owes, one happened back in in 2018 the other in 2019. both were satisfied. Is there anyone here that will work with this guy. His business is strong and he needs a consolidation. Please text me if you can do this deal. I'm very busy so Id appreciate it if I don't get offers looking to sign me up if you cant do this specific deal. Thank you for your consideration.
Greg Cooper
Wall Street Corporate Finance
3475230827
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12-07-2020, 11:20 AM #2
- Join Date
- Apr 2020
- Posts
- 127
Do they own any real estate? Credit score?
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12-07-2020, 12:35 PM #3
- Join Date
- Oct 2020
- Posts
- 28
600 fico owns 2 homes
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12-07-2020, 12:40 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,485
Greg,
This would be way too small for us, but you might want to consider a factoring facility. If they billed $1Mil in revenue last year, they are billing just shy of $100K/month on average. That being said, they likely have $100K to $125K in AR outstanding which would be more than enough to pay off the current advances, net some additional liquidity, and have a revolving facility going forward.
Best,
KHKevin 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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12-07-2020, 12:52 PM #5
- Join Date
- Oct 2020
- Posts
- 28
Thanks for the advice Kevin.
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12-08-2020, 01:25 AM #6
- Join Date
- Oct 2020
- Posts
- 129
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12-09-2020, 03:47 PM #7
Factoring options for $1MM AGS are Eagle Business Credit, TBS Capital Funding, and Versant Funding. Some have higher amounts.
If they settled on the defaults, LCF Group might be interested in it. They've opened their box and have done large reverse consolidations.
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12-09-2020, 03:58 PM #8
- Join Date
- Apr 2020
- Posts
- 127
How much equity in both homes? Location?
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