Results 1 to 6 of 6
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03-26-2024, 03:05 PM #1
- Join Date
- Mar 2020
- Location
- New York
- Posts
- 14
second position 275k a month
CA deal. The deal has decent credit, is profitable, has good balances and revenue. The merchant was funded a first position in the beginning of March, Deal was from an A- paper funder at 10 month term, low rate. He is seeking additional funds for a project he is working on. The issue I'm having is there's barely any pay history and offers I'm getting are high risk 4-5 month deals. Can anyone offer a decent second position here ? He understands he will be paying higher rate and shorter term but just looking for something reasonable ...
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03-26-2024, 03:07 PM #2
- Join Date
- Feb 2017
- Posts
- 3,463
You didn't say what industry
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03-26-2024, 03:13 PM #3
- Join Date
- Mar 2020
- Location
- New York
- Posts
- 14
Airbnb rentals. All deposits are from airbnb, multiple deposits a day.
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03-26-2024, 03:15 PM #4
Does he qualify for a different loan product other than MCA?
Can we stop with the stacking people with MCA product if they qualify for something better?
He got money less than a month ago...
Why does he need another round so soon?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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03-27-2024, 01:58 PM #5
- Join Date
- Jan 2024
- Posts
- 17
whats credit and TIB.
alexa@americanchoicecapital.com
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03-27-2024, 02:14 PM #6
- Join Date
- Nov 2019
- Posts
- 691
Depending on the credit and gross reserve and tib as well as exactly when in March he got funded and how much they gave him I can possibly give a descent second position offer. Hopefully we can take over the first position eventually since our renewals work kind of like a loc on first positions.
Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872
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