Results 1 to 15 of 15
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12-27-2014, 05:56 PM #1
- Join Date
- Feb 2014
- Posts
- 7
Need list of companies that does 2nds and consolidation
Happy Holidays to everyone:
I have a client - owns restaurant - have a 1st lien with balance around $23k and 2nd balance around $2900 - Need to either consolidate and to net $15k or payoff the 2nd and net $20k
Average Monthly volume is $15,000
clients need funds asap.
Interested? email me at: felix@1stbusinessfinance.com 817-722-7582
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12-27-2014, 08:25 PM #2
- Join Date
- Nov 2014
- Posts
- 4
Need list of companies that does 2nds and consolidation
email me I can get it done john@omnivestholdings.com
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12-29-2014, 07:54 AM #3
- Join Date
- Jun 2013
- Posts
- 351
How the hell do you know you can get this done???? First off, you know nothing about the SIC, nothing about the TIB, nothing about the credit, and most importantly nothing about the banks. Throwing out a blanket statement like this just tells me you are either terribly inexperienced or are just saying whatever it takes to get someone to send you a deal. On top of it all, the numbers in either of those situations are terribly far off from what the merchant would qualify for barring them having extremely high daily balances which is unlikely given his predicament of having 2 open advances and needing more cash.
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12-29-2014, 08:32 AM #4
- Join Date
- Jul 2014
- Posts
- 128
Need list of companies that does 2nds and consolidation
Well said!
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12-29-2014, 08:55 AM #5
- Join Date
- Nov 2014
- Posts
- 4
Need list of companies that does 2nds and consolidation
been at this for over a decade guys and have gotten crazier things done.
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12-29-2014, 09:01 AM #6
- Join Date
- Nov 2014
- Posts
- 4
Need list of companies that does 2nds and consolidation
the fact that he's with on deck tells tin is over 6 MN the sic code not really relevant to us
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12-29-2014, 10:00 AM #7
- Join Date
- Apr 2014
- Posts
- 92
Felix,
When was ODC funded or what completion % are they? To have someone pay off ODC and the 2nd and expect a competitive rate like ODC will be pretty unrealistic if you are not near 50% completion. In any event, we may be able to consolidate the 2nd if we have more information on the balances and a better look at their bank/cc statements.
We are currently offering a promotion of 11% on the funded amount for new submissions for the end of the year push to finish 2014 strong.
Pm us for details!
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12-29-2014, 10:18 AM #8
- Join Date
- Jan 2013
- Location
- Berlin, CT
- Posts
- 191
I don't see any mention of ODC in Felix's post. Merchant does $180k/yr in sales and has $26k in balances still looking for more? Why does it matter what % completed they are?
Last edited by GRP Funding; 12-29-2014 at 10:20 AM.
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12-29-2014, 11:18 AM #9
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
What I am trying to figure out is how they have an Average Monthly volume of $15,000 (less than $200k annually) but has a first balance of $23k... how long ago did this merchant get a 1st let alone a 2nd that their balances exceed their monthly volume so much?
If a merchant got funded with an additional position within 30 days and looks to consolidate with nothing backing it- it would be hard to do. Think about it... you got a loan, okay. You needed more money so you got an expensive second position and now you can't afford either. You want to "refi" or "consolidate" your balances? Well, you better have something to back it up because you, as a business owner, already show signs of instability.
- Credit = 650+ in this situation because his annual is so low
- Does he own the place? The property? - If he doesn't want to use collateral, it will be based on credit and TIB, and the business and personal financials need to be reviewed.
It doesn't matter who he got funded with before. If he wants a term loan or line he needs to have decent credit and is able to show financials.
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12-29-2014, 11:31 AM #10
- Join Date
- Apr 2014
- Posts
- 92
Brian,
I think being just recently funded or having been funded months ago makes a big difference, don't you think? You are right there was no mention of ODC, we were under that assumption to the follow up by Jmuller
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12-29-2014, 12:04 PM #11
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12-29-2014, 02:00 PM #12
- Join Date
- Jan 2013
- Location
- Berlin, CT
- Posts
- 191
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12-29-2014, 04:26 PM #13
- Join Date
- Nov 2014
- Posts
- 6
I am crying so hard at how well this was said lol!
Cherelle T. Blaize
ISO Relations Manager
S.O.S. Capital, Inc.
540 Madison Ave, Suite 17B
NY NY 10022
Phone: 212-235-5455
Fax: 212-235-5459
www.soscapital.com
sales@soscapital.com
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12-30-2014, 08:29 AM #14
- Join Date
- Jun 2013
- Posts
- 351
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12-30-2014, 04:56 PM #15
- Join Date
- Dec 2014
- Posts
- 93
I emailed you
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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