Need a new 2nd position
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  1. #1

    Need a new 2nd position

    I have a trucking company that averages $170K in monthly deposits with a 574 credit score. The merchant has 3 positions. The 3rd position will be paid in full within the next couple of days. They would like to pay off the current 2nd position & net $20-$30K. The balance on the 2nd is approximately $32,500.
    Where lending is FUNDamental!!!!

  2. #2
    Senior Member Reputation points: 64
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    Jul 2014
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    Need a new 2nd position

    That's probably the best way to go getting that 2nd payed off and putting it in as a first to get a better rate. With those numbers that shouldn't be a problem. Also keep in mind the amount of deposits they do per month. This shouldn't be hard to do with the small amount there asking for.

    Mike@SamsonPartnersLLC.com
    office# 347-492-1801.

  3. #3
    Senior Member Reputation points: 50583
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    PM me I will put you directly in touch with the lender I use for my trucking companies.

  4. #4
    Banned Reputation points: 4530
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    This not a big problem. You should consider letting go of the short term gains in MCA and put your client into a longer term factoring relationship.
    I can help you having been a Factor for a number of years.
    Bob Shaw 734-929-3800

  5. #5
    Senior Member Reputation points: 1422
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    GoldenPearl, some of the cheapest 2nd's in the space (can't be CA).

  6. #6
    I can do this please contact me!
    Erin Dreselly

    World Business Lenders
    81 Market Sq., Suite 7
    Newington, CT 06111

    Direct: 860-549-2419
    Cell: 860-692-4636
    Fax: 860-499-5413
    Email: edreselly@wbl.com
    Web: www.wbl.com

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