[edom4578]

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

[Olderguy]

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?

[edom4578]

Fico is approx. 580

[Olderguy]

could maybe do something not personal loan.

[Ehenek]

Is your "prospect" cashflow positive? Does he have any type of assets such as AR, INVENTORY, EQUIPMENT, REAL ESTATE? What is his FICO?

[Reiboldt97]

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