Results 1 to 6 of 6
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12-06-2023, 03:20 PM #1
- Join Date
- Mar 2022
- Posts
- 9
Structural Engineer with default (currently paying) needs another MCA
I have a prospect, structural engineering company with 3 positions totaling approx. $180k. Default on smallest one of $30k, but has been paying it weekly to the tune of $2,500. The other 2 advances are $9k monthly and $1,250 weekly. Is looking for additional funds and is open to a reverse consolidation. The reason for the default was due to the droughts in Nevada hindering the amount of jobs they had and loss of revenue...this has been resolved. Owner has taken advances for the better part of 6 years and is able to provide 12 months banks statements showing timely payments.
Needs funds to hire more employees, marketing. Not too experienced in this situation and I know the default, although being paid, puts a damper on the ability to get another MCA; but I thought I'd reach out here.
Please PM with any questions or to let me know if this is doable.
Ed
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12-06-2023, 03:24 PM #2
1. Does he have any property I can do collateral loan
2. Any assets I can use to get money
3. He needs accounting services - reach out
4. Can we factor his A/R?
5. Is his Fico over 700 and look at personal loan?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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12-06-2023, 03:28 PM #3
- Join Date
- Mar 2022
- Posts
- 9
Fico is approx. 580
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12-06-2023, 03:31 PM #4
could maybe do something not personal loan.
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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12-07-2023, 08:25 AM #5
- Join Date
- Oct 2022
- Posts
- 280
Is your "prospect" cashflow positive? Does he have any type of assets such as AR, INVENTORY, EQUIPMENT, REAL ESTATE? What is his FICO?
Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
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12-11-2023, 09:20 AM #6
- Join Date
- Dec 2023
- Posts
- 1
Could set him up with a debt restructuring program. Negotiate longer payment terms without changing the total amount owed. Save him weekly and the lender still gets paid, set him towards a working cap bridge or SBA loan.
Benjamin Reiboldt
Midwestern Financial Solutions
https://calendly.com/d/252-jwh-nx4/p...roduction-call
benjamin@midwesternfinancialsolutions.com
463-701-5584
Debt Restructuring
Working Capital Bridge
Invoice and PO Financing
Bespoke Lending and Private Investment
USDA B&I Loans
SBA
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