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02-14-2024, 06:30 AM #1
- Join Date
- Dec 2016
- Posts
- 56
restaurant TIB 3 months avg $200k per
Have a restaurant in MN but only 3 1/2 months in business averaging $200k per month ( processing $70k) with daily balances avg $10k. Has a first with bal $25k
Would like to payoff first and get better terms
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02-14-2024, 07:30 AM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,993
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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02-14-2024, 11:37 AM #3
- Join Date
- Nov 2019
- Posts
- 691
The business has been opened 3.5 months and already took a first and is looking for more money. You are not going to get a better first position paying off the current one. If she waits until she is opened at least 6 months i can possibly pay that off and give a better term depending on the term she got now.
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