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  1. #1
    Senior Member Reputation points: 117
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    MCA Refinance

    We are looking for a directly lender willing to pay off multiple MCA balances & allow client to net additional cash for business expansion & inventory. Good credit, healthy bank statements, good revenue & profit margins.

    Term Loan with monthly payment 5%-15% APR depending on term.

  2. #2
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    Revenue is around $7m

  3. #3
    Senior Member Reputation points: 1232
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    Quote Originally Posted by Red View Post
    Revenue is around $7m
    Does he own any real estate?

  4. #4
    Senior Member Reputation points: 39157
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    Hi Red, let's talk about it...

    1 - multiple MCA balances: means when he needed funding, he was desperate and couldn't wait.
    2 - needs additional capital: means he needs more money DESPITE the multiple positions
    3 - good credit, healthy banks, good revenue & profits: contradicts 1 & 2
    4 - Term loan with monthly payment: Probably not possible with multiple cash advance positions, unless he has some form of collateral.
    5 - 5-15% APR (depending on term?): Hard money is your best option here considering all of the factors above.

    There are some guys on here who say they dedicate themselves to this niche of business... In my humble opinion, if he doesn't won't take another MCA, or reverse (to get out of the problem) you're probably beating a dead horse.

  5. #5
    Senior Member Reputation points: 4567 NickHubbard's Avatar
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    Quote Originally Posted by Red View Post
    We are looking for a directly lender willing to pay off multiple MCA balances & allow client to net additional cash for business expansion & inventory. Good credit, healthy bank statements, good revenue & profit margins.

    Term Loan with monthly payment 5%-15% APR depending on term.
    FlashCap SBA Loan | https://www.firsthomebank.com/creditbench
    Nick Hubbard
    Senior Loan Advisor
    314-252-0299 - Office
    314-885-2262 - Direct
    nick@elitefactoring.com
    www.elitefactoring.com

  6. #6
    Senior Member Reputation points: 203054
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    7mill a year he probably qualifies for inventory LOC or factor his invoices if he has commercial clients

  7. #7
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    Quote Originally Posted by Red View Post
    We are looking for a directly lender willing to pay off multiple MCA balances & allow client to net additional cash for business expansion & inventory. Good credit, healthy bank statements, good revenue & profit margins.

    Term Loan with monthly payment 5%-15% APR depending on term.

    when you say multiple balances exactly how many are you talking. Also with how you described the deal a term loan at those rates is not going to happen.
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  8. #8
    Senior Member Reputation points: 4457
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    Quote Originally Posted by Red View Post
    We are looking for a directly lender willing to pay off multiple MCA balances & allow client to net additional cash for business expansion & inventory. Good credit, healthy bank statements, good revenue & profit margins.

    Term Loan with monthly payment 5%-15% APR depending on term.
    Rapid and many others will pay off two positions. If client is in a LoanMe state (states that LoanMe will do a regular business loan), I would see about getting enough to pay \off some or all of the MCA's. This is high interest, but hopefully only temporary. With the good credit, you should be able to work them into an SBA loan. A portion can be allocated to pay off LoanMe.
    Shannon Harris
    Funding Specialist
    888-705-8818 phone
    239-790-2664 fax
    Shannon@StellarBusinessFunding.com
    www.stellarbusinessfunding.com

  9. #9
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    Irvine, CA
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    2,084

    I've done SBA 7A with multiple MCA's that were paid off in the funding. Need business assets, A/R, commercial property, primary residence or NOO property as collateral. 10 year term at 6% is the range. Have they applied for an EIDL or additional funding EIDL?
    Steve Benjamin
    Professional Business Loans

    1012 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  10. #10
    Send
    It over we will restructure his advances
    And cut the down the
    Payments to get out
    Quick he won’t have to borrow
    Additional
    Money because well
    Reduce
    His overall principle balance by doing so
    Without hurting his ability
    To get funded again Offc makes the deal easy for you. We chase your defaults to
    And get them
    To pay you guys back

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