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06-17-2021, 02:28 PM #1
- Join Date
- Jun 2021
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- 42
Who offers consolidations????
Does anyone know who actually offers real consolidations? Heard about Kanjorski Partners a while back. I have been working with them for 3 months now and A ll I keep hearing from them is "we're hoping to have an answer for you by this week, we have a pipeline of existing investments that need to be closed before issuing a term sheet".
My merchant makes 1m in monthly rev and has positions totaling around 400k, any idea who can do this?Last edited by Barbarag; 06-23-2021 at 12:36 PM.
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06-17-2021, 03:18 PM #2
- Join Date
- Feb 2017
- Posts
- 3,433
https://dailyfunder.com/showthread.p...ight=kanjorski
They got banned him a while back.
This is an AR play, don't you think? What's the industry?
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06-17-2021, 03:38 PM #3
- Join Date
- Jun 2021
- Posts
- 42
He is a Fedex Contractor, so trucking. At this point, I have no idea. They ask for over 8 stips BEFORE even looking at the file. They set up a call, made my merchant go through hoops getting them other stips. Once he got everything over, they say they love the file but have to wait 2 weeks before moving forward. 2 WEEKS PASS, they say the next week they will be issuing term sheet. 3 months later and my merchant is down to 400k from the 700k that we first presented to them. And not to point out that their communication is terrible. You can call, email, text, and no response.. only answer once a week to give me the same response.
Last edited by Barbarag; 06-23-2021 at 12:38 PM.
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06-17-2021, 03:50 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
They are probably a last mile contractor for FedEx. Most likely your best option is obtaining a factoring facility for them. If they are billing $1Mil/month they likely have 1.3-1.5mil in AR outstanding. You will get them more working capital liquidity by factoring the AR, the facility is revolving, and it would be much more cost effective than MCA.
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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06-17-2021, 03:51 PM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,490
Kevin 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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06-17-2021, 03:59 PM #6
- Join Date
- Feb 2017
- Posts
- 3,433
Definitely an AR play, like I said. What's Kevin's dust is my gold, let me know if you want my help on getting the client a good credit facility to refi out of this mess.
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06-17-2021, 05:11 PM #7
- Join Date
- Jun 2021
- Posts
- 42
thank you guys! I will reach out
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07-28-2021, 03:16 PM #8
- Join Date
- Jul 2021
- Posts
- 28
Hi Barbara!
we are Mr. Advance, High risk in house direct lender with years in the industry. We do real Consolidations.
Reach me out so I can help you
Direct:1(201)-616-6331\
daniela@mradvancellc.com
Fax:1(315)-758-1743
35-12 SUITE 3-W 19TH AVE,
ASTORIA, NY 11105
Website: www.MrAdvancellc.com
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