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08-05-2023, 12:09 PM #1
- Join Date
- Mar 2023
- Posts
- 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.
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08-10-2023, 01:10 AM #2
- Join Date
- Oct 2022
- Posts
- 291
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
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08-16-2023, 03:38 PM #3
- Join Date
- Aug 2023
- Posts
- 5
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
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01-08-2024, 04:13 PM #4
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.
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01-08-2024, 07:19 PM #5
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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