MCA debt settlement Company needs 20k
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  1. #1

    MCA debt settlement Company needs 20k

    • Company has a Merchant Cash Advance debt of 40K .
    • They are working on settling half.
    • 9-year-old business
    • 30k a month in revenue
    • 700K in rent over 9 years in great standing
    • Paid off 300k in equipment leases.
    • 600 Credit for owner

    The company took out a MCA to fund a startup. It failed they have paid off two of the 3 MCA loans.
    The last one is the one they are requesting help on. Need about 20K.

    The company is a distributor of patented exercise equipment.

  2. #2
    Senior Member Reputation points: 1755
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    Oct 2022
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    Why are they overleveraged if they paid off all the equipment? I am assuming this is trucking and they need help on debt refi and working capital. I would use my accounting services to help them with R&D Tax Credits for the IP. I would also analyze their financials to look at cashflow since you mentioned that the EQ is LEASED so the debt schedule is low. It seems like an SBA makes sense.
    Elon Henek
    HCI - Glen Cove, NY
    Main: 1-516-676-1854
    Cell: 1-516-236-4086

  3. #3
    If credit file is not shot, I can definitely help with traditional banking and credit products
    Feel free to reach out if interested.
    Joseph Zafir
    754-610-2148
    yossi@siysolutions.com

  4. #4
    Senior Member Reputation points: 72398 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,244

    If they have equipment free and clear, I can take it out with asset based loan - probably 50% of auction value. Should be a reasonably liquid asset.

    Just realized this was an old post...
    Last edited by Olderguy; 01-08-2024 at 07:18 PM.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  5. #5
    Senior Member Reputation points: 72398 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,244

    Quote Originally Posted by dealmax View Post
    Hi Dell here. Any success with this ? If not, send me your file. I can get you a quote
    by thursday, the latsest. emailuni@proton.me
    No offense but your cell phone doesn't seem to work...it just beeps (there is no name or voice mail) and your office call requires a $.01 cent a minute charge.

    No address or phone on your website.

    Not a good sign.
    Last edited by Olderguy; 01-08-2024 at 08:13 PM.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

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