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07-14-2022, 11:51 AM #1
- Join Date
- May 2022
- Posts
- 62
High risk high Rev Need help! --- 1.2 Mil/ Month Rev
Im stuck in an unfortunate situation with a high revenue construction company. Ballpark 1.2-1.6 mil a month , So here's the deal , guy got caught up when covid hit with high material costs , turned to small mcas (nowhere near what he would've actually qualified for with his rev) to purchase bulk materials at a cash discount. Something like 25-50k, Well he had rinsed and repeated this process and has paid off several , had plenty of renewals etc. Here's the problem. Because he started with low amounts , and jobs pay out at completion he has ended up at this point with 5 pos and one small loc, He wants a reset button , one massive mca to clear out all his pos, ball park liberal estimate is about 250k and that's accounting for any interest or lack of early pay off discounts. and he wants around 200k on top to just have one mca, Obviously you can imagine that without an explanation like this lenders including mine are not willing to give him much , only have two offers for him and they are on par with his others , accepting one only prolongs his cycle. To his credit , and I have personally combed through the statements he has never missed a payment and is making around 27k worth of payments a week! His ideal offer would be 400-500k and min 10-12 month term, Hes not really in a position to argue about rates so thats up to the lender whos willing to take on the "risk" . I am ready to iso up with any lender. One last hangup we have is that he has some criminal background from way back in 2012, got roped into some fraud that was happening with checks at an auction house for cattle. Let me know if you can find him a home.
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07-14-2022, 03:11 PM #2
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- Jun 2022
- Posts
- 15
this is prefect for us, send me an email aron@hybridadancellc.com
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07-14-2022, 03:21 PM #3
- Join Date
- Jul 2022
- Location
- NYC
- Posts
- 34
Hi Matt Im Gary from Infusion capital and this deal is right in our wheel house! My email is gary@infusioncapital.org and my number is 718-2074804. We mainly fund high risk deals and can have numbers for you today. The merchant sounds like that have great payment history and should be a slam dunk. Give me a call so we can get this wrapped up today!
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07-14-2022, 03:46 PM #4
- Join Date
- Oct 2016
- Posts
- 4,318
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07-14-2022, 04:16 PM #5
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07-19-2022, 07:33 AM #6
- Join Date
- Nov 2020
- Posts
- 3
So bottom line did anyone fund this deal?
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07-19-2022, 09:27 AM #7
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07-19-2022, 10:44 AM #8
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07-19-2022, 11:40 AM #9
- Join Date
- Jun 2022
- Posts
- 15
sorry about that, aron@hybridadvancellc.com this one is definitely correct
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07-19-2022, 11:41 AM #10
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- Jun 2022
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- 15
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07-19-2022, 04:57 PM #11
- Join Date
- May 2022
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- 62
Well I had a few lenders kick back criminal records so I did my research , I can only pull up charges and a brief article that names him way down in a small paragraph , underneath a bunch of other fellas that did more news worthy dealings and got more article space. so its vague , said he settled but I believe he still has the charges until the settlement is paid , so its still on his record .
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07-19-2022, 04:59 PM #12
- Join Date
- May 2022
- Posts
- 62
Not at the moment , I have one promising route but as you can imagine a guy with this revenue is hard to get ahold of and has pawned me off the secretary who is also a pain but marginally less. waiting on her to get me a bunch of docs for the one option we may have that would be what they are looking for .
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07-19-2022, 07:43 PM #13
- Join Date
- Nov 2013
- Posts
- 600
If hes doing that type of volume ask if hes got any assets free and clear or with equity (real estate, construction equipment etc)...that may be a good angle there. Heavy Iron (cat excavators etc) there are lenders that will go 50%+ LTV, so if he own outright and its worth 100k, thats 50k right there as an example. Same for RE, if theres equity get a bridge loan.
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