Retail Shop With 1mil gross rev needs a good second position offer***HOT HOT HOT

**JHausen** · 01-05-2015, 06:13 PM

Current offer 44 paying back 66 (merch has not agreed to......yet) 699 Credit

Outstanding 72
22

Grossed 1mil for 2014.

Doesn't Need a Third. Looking for consolidation or a competitive second.

**cardinalequity** · 01-05-2015, 07:19 PM

how much is he looking for? 44k didn't work for him?

**WhoisKingsley** · 01-05-2015, 08:03 PM

Ok 1 Mil a year isn't a huge number when broken down and the amount is dissected into how much it costs to run a business.

He has 2 advances out- the first amount I understand... Why did he take a second? Now a third? Did you get this off of a UCC list? Merchants won't take more money unless it's a large amount that attracts them. Regardless, paying back more that 50% in 3-5 months of your lucky probably won't make him budge either.

Look into a better product instead of digging a business owner into a hole.

**JHausen** · 01-05-2015, 08:59 PM

@WhoisKingsley
I apologize I should have clarified we're not looking for a third. We're either looking for a good consolidation or a competitive second

**WhoisKingsley** · 01-05-2015, 10:11 PM

Gotcha. Sorry got a little angry there

Okay- as in someone to buy out that second and become a second? Do they take a good amount of CCs? If so, we can get a split put in place to take out the second if it's been more than 30 days.

Consolidations are tough with just 2 positions. There are some that will take a look like fund my payroll? Right? Other than that you can try to get them into a term loan... That would make more sense. PM me if anything

**omegafund** · 01-05-2015, 10:23 PM

We have term loan lenders, you don't make much but a better product for the borrower. As long as the are not running in the red and in business for 3+ years you should have a better product than an advance

**Erin Dreselly** · 01-05-2015, 11:33 PM

Hello! If you still need help with this please contact me! Edreselly@wbl.com or 860-692-4636! l

**FIGCAPITAL** · 01-05-2015, 11:56 PM

JHausen I am new to the forum but not the business. I think I could help you with this. Please feel free to contact me at your convenice.

Robert Scarpaci
FIG Capital
212-776-4385
Rscarpaci@figfunding.com
75 Broad St. Suite 1904
New York, NY 10004

**MoneyMatchMaker** · 01-06-2015, 07:20 AM

Get him an SBA 7a 150k 10 year term @ 6% need a 680 cs your merchant qualifies. PM I have a back that gives approvals in 24 hours & funds in 3-5 biz days.

**ezcapital** · 01-06-2015, 11:54 PM

I can offer a term loan for 5-10 yrs with a monthly payment regardless of any existing working capital cash advances.

Contact me to see if they qualify!

Thread Tools

Display