Looking to buy out a 2nd advance
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  1. #1
    Senior Member Reputation points: 18402
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    Apr 2014
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    Looking to buy out a 2nd advance

    If a lender is going to use his send me the paper for the deal and i'll look at it, then I won't send it. My customer has a 2nd that he owes 50 and he is maybe 30 percent thru it. He DOESN'T want a third advance, the only option is to payoff the 2nd and get him more. The responses will be entertaining..lol

  2. #2

    Looking to buy out a 2nd advance

    Why not pay off 1st & 2nd with a 36 month term loan around 11%apr and Additionally give him a line of credit or 2. Let me know if helping your merchant is of interest to you.

  3. #3
    Banned Reputation points: 4530
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    Mar 2014
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    Ann Arbor, Michigan
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    why not pay it all off

    Quote Originally Posted by golf2014 View Post
    If a lender is going to use his send me the paper for the deal and i'll look at it, then I won't send it. My customer has a 2nd that he owes 50 and he is maybe 30 percent thru it. He DOESN'T want a third advance, the only option is to payoff the 2nd and get him more. The responses will be entertaining..lol
    and perhaps qualify for more capital with a 6% interest, 10 year bank loan.
    Let me know if I may contact you.
    Bob Shaw 734-929-3800

  4. #4
    Senior Member Reputation points: 68233
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    Dec 2014
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    Quogue, NY
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    Above poster is correct: If the clients cash flow (projected with a term loan), balance sheet and financials support a more traditional product, lenders will buy out both advances and take a collateralized position.

    These products take 7-10 days to fund.. Feel free to reply for more information or call 866 681 1227.. Ask for Richard

  5. #5
    Member Reputation points: 10 Miguel martinez's Avatar
    Join Date
    Dec 2014
    Location
    Connecticut
    Posts
    52

    We can buy out both positions and come in on a 1st with a collateralized loan and may be able to get him a line of credit as well
    Miguel Martinez
    Financial Coordinator

    World Business Lenders
    81 Market Square Unit 7
    Newington, CT 06111

    Toll-Free: (888) 441-9500 ext 235
    Efax: (646) 417-7150
    Mobile: (860) 759-6365
    Email: mmartinez@wbl.com

    www.wbl.com

  6. #6
    I can definitely help you with this! Please contact me at funding@berkmanfunding.com
    We do deals like this everyday. Would love to help.
    Last edited by SK215; 01-23-2015 at 02:16 PM.

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