[ThorCapitalGroup]

Hi,

I have a merchant with 3 positions totaling roughly 140k. They are looking to consolidate and net an additional 40-60k if possible. They do about 110k a month. Always paid their bills on time with no NSF's. Would any lender touch this?

[freeprocessing]

Hi,

I have a merchant with 3 positions totaling roughly 140k. They are looking to consolidate and net an additional 40-60k if possible. They do about 110k a month. Always paid their bills on time with no NSF's. Would any lender touch this?

lol get him a reverse or another position.

[ThorCapitalGroup]

lol get him a reverse or another position.

Got him another offer but he's looking to consolidate.

[abfunders]

Well clearly an MCA isn't going to do this, so you have to be a bit more specific:
- What's the industry?
- Is there collateral?
- What's the FICO?
- Is there senior debt that are not MCAs?

[ThorCapitalGroup]

Well clearly an MCA isn't going to do this, so you have to be a bit more specific:
- What's the industry?
- Is there collateral?
- What's the FICO?
- Is there senior debt that are not MCAs?

Industry is Construction doing asphalt work.
No collateral is on any of the loans
FICO is good on both owners
No senior debt.

[abfunders]

Industry is Construction doing asphalt work.
No collateral is on any of the loans
FICO is good on both owners
No senior debt.

B2B or B2C? If they're B2B, they're a subcontractor, and that's factorable with the right factor.
What does "FICO is good" mean? 700+? If so, there's opportunity for unsecured money, assuming the credit usage and inquiries are low.

[ThorCapitalGroup]

Yes credit above 700 for both owners. Which lenders would do a consolidation?

[abfunders]

They can qualify for good unsecured debt with REAL banks. Just a matter of knowing how to monetize.

And if they're truly B2B, factors who do subcontractors will. Can you ask them why they're not factoring?

[NationalCorporateData]

Discount Merchant Funding, IOU Financial, QuickSilver, Quikstone Capital, The Smarter Merchant, VitalCap Fund

Probably can count Quikstone out. If it's construction, most likely don't accept CCs.

[Xman]

G&G Funding can look into a reverse consolidation with capital on top if it makes sense

[Yankeeman07]

Hi,

I have a merchant with 3 positions totaling roughly 140k. They are looking to consolidate and net an additional 40-60k if possible. They do about 110k a month. Always paid their bills on time with no NSF's. Would any lender touch this?

Get them out of the MCA World - that is what is choking them
Term Loan with a Private Lender (Quicker Closing - 15 business days) or look into a SBA 7(a) Loan (of course that is a much longer closing time)


**Keep in mind EIDL Loans are still available if they have not participated before.

https://www.sba.gov/funding-programs...disaster-loans

[syavask]

Premier Capital would definitely like to take a look at this one.

[ThorCapitalGroup]

Get them out of the MCA World - that is what is choking them
Term Loan with a Private Lender (Quicker Closing - 15 business days) or look into a SBA 7(a) Loan (of course that is a much longer closing time)


**Keep in mind EIDL Loans are still available if they have not participated before.

https://www.sba.gov/funding-programs...disaster-loans

This comment was really helpful. They never applied for the EIDL and will most likely get approved. Ty.

[brandon_]

EIDL is the best possible option for any business owner right now. 600+ credit score on Experian. What happens down the line when they use the money for the wrong things - we shall see

[MCA]

EIDL is the best possible option for any business owner right now. 600+ credit score on Experian. What happens down the line when they use the money for the wrong things - we shall see

I think you are referencing PPP and people that misuse those funds. EIDL is an actual business loan that is paid back and doesn't have the restrictions that the PPP has in regard to the % that must be used for payroll.

EIDL will require you to obtain Hazard Insurance within 12 months of funding your EIDL loan as well.

[FRANKSCARSO]

We wil do it

[Josh1810]

fundworks would do a buyout of a b deal with 3 positions if it makes sense. going for reverse would probably end your control of the deal, as well as turn away future interest by good funders