Merchant looking for $100k 90 day loan secured by contract with the state of NC
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  1. #1

    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!

  2. #2
    I can help with this! call me 754-778-8448
    Mark Perlman
    BlackTieFunding.com
    Mark@blacktiefunding.com

  3. #3
    Sounds like something we can possibly get done.
    Shoot me an email or call and we can discuss further.
    Cris Gonzalez
    Iso Relations Manager
    (786) 368-1815
    Cris@clarityadvance.com
    www.clarityadvance.com

  4. #4
    Senior Member Reputation points: 4567 NickHubbard's Avatar
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    Quote Originally Posted by jtsfunding View Post
    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!
    Government Contract Financing
    Nick Hubbard
    Senior Loan Advisor
    314-252-0299 - Office
    314-885-2262 - Direct
    nick@elitefactoring.com
    www.elitefactoring.com

  5. #5
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    send it over

  6. #6
    Senior Member Reputation points: 338677
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    Live Oak Bank in NC has a government contractor financing group. It might be worth giving them a call.......
    Kevin Henry
    VP-Business Development
    Seacoast Business Funding, a division of Seacoast Bank
    561-850-9346
    Kevin.Henry@SeacoastBF.com
    1880 N Congress Ave., Suite 404
    Boynton Beach, FL 33426

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