[TheMattTasticVoyage]

EDITED , No longer need help. Thank you all

[Olderguy]

Has he applied for a SBA or Term Loan? Does he qualify? Does he have any real estate for a hard money loan?

[TheMattTasticVoyage]

I don't think he has but he would certainly take a term loan so long as it served the same purpose for him.

[abfunders]

GC or SC? Can any of his AR be factored? That would definitely be the best way here.

[TheMattTasticVoyage]

Gc I believe , and I imagine they can.

[BroadstWolf]

call me at 631-835-3987

[abfunders]

Gc I believe , and I imagine they can.

Matt, while it's a bit harder, most construction is doable with the right factor, please email me or call me.

[abfunders]

GCs are harder than SCs, that's what I meant. The good news is that there's probably room on the AR to sustain his business and buy out the MCAs.

[ryanh]

Matt pretty sure I know the deal, bigger issue is the Average Daily Balance if so, his ADB is under 2k.

[TheMattTasticVoyage]

Sounds like you do know him. RIP

[NCP Russell]

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.

Matthew K - www.Requilend.com

Hi Matt. I see the issue you have with this client. With the low balances and his background I'm sure its difficult to find something that works for the client. If you can not get an approval, the client is declined across the board and they are in danger of defaulting, we should jump on a call. National Credit Partners is a debt modification and restructuring firm. We are not a debt settlement company and we do not offer any financing. We work directly with the lenders and get brand new contracts in place while still paying back the lender in full. Russell 949-288-0702