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  1. #1

    trucking 1 pos

    trucking

    merchant has one pos balance is 30k

    grosses 60k

    wants to pay them off and get a long of a term as possible

    credit 620

  2. #2
    Member Reputation points: 780
    Join Date
    Feb 2019
    Location
    FL
    Posts
    86

    Must do a buyout?

  3. #3
    Senior Member Reputation points: 1519
    Join Date
    Aug 2020
    Location
    New York, NY
    Posts
    123

    Based on the rev you mentioned and the balance merchant has, I doubt anyone would do a buyout netting the merchant much. a 2nd position seems like a better option in this case.
    Underwriting Desk | ClearFund Solutions | New York, NY.
    P: 855-543-2133 E: deals@clearfund.co W: www.clearfund.co
    _____________________________

    ClearFund is a Direct Funder
    ISO inquires: partners@clearfund.co

  4. #4
    Senior Member Reputation points: 4118
    Join Date
    Jan 2020
    Location
    Brooklyn, New York
    Posts
    122

    A buyout netting the merchant an appropriate amount seems like a bit of a stretch. If this merchant is looking for a second position, Lending Valley can take a look at it. We just funded a trucking company with similar numbers on a third.
    Clark Sica
    Business Development Manager
    Lending Valley, Inc.
    Office Line: 347-478-5161
    Mobile Line:347-536-0528
    Fax: 1-888-850-1971
    www.LendingValley.com

  5. #5
    Member Reputation points: 18
    Join Date
    Jun 2021
    Location
    New York
    Posts
    31

    We can look at a buyout but I can't make a guarantee. Open to taking a look

    Brian O'Neill
    ISO Relationship Manager
    Vitalcap Fund
    Phone: 845-665-1845
    Email:Briano@vitalcapfund.com

  6. #6
    Buying out the first based on the limited details provides seems like a definite possibility. How long has the merchant had the first position and is it an A, B/C or D funder?

    Robert S Bloink
    EVP of ISO Partnerships
    Direct: 248-341-9477
    Email: bb@cooperasset.com
    Web: www.cooperasset.com

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