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03-29-2023, 03:24 PM #1
- Join Date
- Nov 2021
- Posts
- 10
Merchant looking for $100k 90 day loan secured by contract with the state of NC
Message from merchant
"I have a business that has a contract with the North Carolina Forest Service (NC State Agency), we provide pumps when they have large wildfires. Usually this is about every 7 years. We have currently been called to provide pumps to flood a 5800 acres fire in Tyrrell County NC. In the past we usually take in over $1,000,000.00 in these operations. We anticipate providing minimum 30 pumps with a daily incomer of over $45,000.00. The company I use for this contract is Mattamuskeet Management and Consulting LLC. It is 100% owned by me. It is used solely for pumping operations and has no income in a couple of years. The usual outlay of cash it takes to fund this operation is about $150,000 and can be secured by the contract with the State of NC. What I would propose is 5% origination fee $100,000 90 day loan interest 5% per month minimum payback $20,000. I have 2 other sources to go to but I thought I would reach out to you first. The state has 30 days to pay from invoicing date. Sometimes they let us invoice bi-monthly sometimes every 30 days."
Merchant has other company that we have funded a couple of MCA's to.
Reach out if you are interested in looking more into this deal!
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