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12-08-2014, 11:37 AM #1
- Join Date
- Aug 2014
- Posts
- 20
Need advice please
I have a merchant that I helped get out of a stacking issue. He went from 4 positions to 2, which he will be paying off one of the lenders back in full this week. I have two renewals ready to go but he wants a higher amount and better terms. I feel he has proven that he can handle the payments and the outrageous terms. So how should I handle this? any advice is appreciated.
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12-08-2014, 11:43 AM #2
- Join Date
- Sep 2014
- Posts
- 720
Consolidate the balances into a new 1st position or leave 1 in place and consolidate the 2nd into a new 2nd (hopefully at 1st position rates if you know which a-lenders will stack on each other) netting him extra money. Tough to say with the limited amount of info provided.
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12-09-2014, 10:37 AM #3
- Join Date
- Apr 2013
- Location
- NY
- Posts
- 203
It is pretty easy to get a funder to consolidate with only 2 positions now, to buy them both out and do 1 longer term 1st position. Its a lot harder when they have more than 2. Sounds like you've been doing everything right so far, and almost have him back to 1 funder. Send it to one of the funders you do a lot of business with along with that explanation. If you don't have anyone who will do it, PM me
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12-30-2014, 02:42 PM #4
please let me take a look at it being said that you have got him down to only 2 positions it makes it easier to but out the other 2 and have him net a decent amount if he is willing to put up collateral we may be able to get him an even higher offer and get him on track with only one position
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
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