Results 1 to 6 of 6
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12-15-2023, 02:51 PM #1
- Join Date
- May 2023
- Posts
- 47
Need a Solution for Security Company doing $3MM
I Have a client with $350K in MCA debt that needs consolidation, his credit is 650. I have it submitted to reverse lenders however is this the best solution for the merchant? Are reverses truly helpful or does it put them in more debt that makes it worse in the end? They are barely over the 2.5 TIB mark but could SBA be an option?
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12-15-2023, 02:56 PM #2
if they are in a desperate position overall regarding the need to consolidate the payments, then they are all but surely not disciplined enough to complete a reverse of that size.
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12-15-2023, 03:08 PM #3
Asset Based Lending - A/R aging, A/P, inventory, equipment, property - any of that amount to much?
Factoring?
Purchase order financing?
Are they buying any equipment or is it just a service company?
If their employees are W-2 could qualify for a $500 each tax credit.
If I could see their tax returns and P & L and balance sheet, plus schedule of liabilities, I would also maybe recommend virtual CFO or accounting services.
Maybe too much debt for SBA....SBA lenders want debt consolidation and working capital to grow the business...not just to pay down debt.Last edited by Olderguy; 12-19-2023 at 11:05 AM.
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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12-15-2023, 06:36 PM #4
- Join Date
- Sep 2023
- Posts
- 42
There are plenty of options to move forward with here if you’re trying to do right by the merchant and still eat at the same time. Shoot me an email or call to discuss. I’m sure we can get something done here.
Andrew@arkcapitalfunding.com
9082083593
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12-19-2023, 11:00 AM #5
- Join Date
- Jun 2021
- Location
- miami
- Posts
- 436
Midwestern Financial Solutions
CEO
Office - (954) 694-6402
email- Info@midwesternfinancialsolutions.com
MidwesternFinancialSolutions.com
Where your box ends ours begins.
https://www.linkedin.com/company/mid...ial-solutions/
linkedin.com/in/brandon-cooper-426615267
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12-19-2023, 04:14 PM #6
- Join Date
- Aug 2021
- Location
- nyc
- Posts
- 17
There are plenty of options to move forward with here if you’re trying to do right by the merchant and still eat at the same time. Shoot me a call to discuss
929-996-8972
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