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03-04-2024, 04:48 PM #1
- Join Date
- Apr 2013
- Posts
- 358
A Paper Lenders who will pay off 2 positions
Looking for suggestions besides On Deck and Kapitus.
Needs to go at least 24 months.
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03-04-2024, 04:58 PM #2
- Join Date
- Nov 2019
- Posts
- 685
The merchant already has 2 positions and looking for more money for 24 months which is hard to find. I can pretty much bet he will need more money within the next 12-24 months and will have to either stack or get refinanced again. You should pitch him a program on first positions that just extends the term out longer when he is qualified for more money and does not pay for it until the old balance is finished. He can get more money over the next 24 months with cheaper costs.
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03-04-2024, 05:17 PM #3
- Join Date
- Apr 2013
- Posts
- 358
I agree. He started with even more balances. After talking to us, he has diligently paid those down and now wants a single vehicle to go with. His cashflow is very strong so he's been taking advantage of additional financing but qualifies for better funding with one partner vs smaller amounts across several.
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03-05-2024, 10:57 AM #4
- Join Date
- Nov 2019
- Posts
- 685
My mca first position works like a line of credit as long as we stay in first position. I have merchants i have funded for over 5-7 years and there total cost has been between around 30-40% of the course of several years and 18-25 times funded. This option is so much better for the merchant and the broker gets a renewal every few months. Feel free to reach out to me to find out more.
Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872
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03-04-2024, 05:14 PM #5
Do a financial analysis of the business...
Are there better alternatives?
SBA 7A (Cadence bank 25 days)
LOC 10 days to 2 weeks
SBA Bolt
Personal loan - 2 weeks 650 Fico
Asset based lending
A/R, A/P, inventory, equipment to cash out or do a sale/leaseback
Factoring?
Purchase order financing
Cash out equity from real estate....business and primary residence
Can we start looking at better options than just MCA on top of MCA...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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03-04-2024, 05:45 PM #6
- Join Date
- Apr 2013
- Posts
- 358
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03-04-2024, 06:17 PM #7Steve 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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04-10-2024, 03:26 PM #8
We would be able to buy out positions but our max term is 18 months if the merchant wasn't funded yet.
Gabe Don
Director of Iso-Relations
Direct: (786) 208-3685 (Please Text or Whatsapp)
gabe@jaffecapital.com
www.jaffecapital.com
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