second position 275k a month
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  1. 03-26-2024, 03:05 PM #1
    Southern_Funding
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    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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  2. 03-26-2024, 03:07 PM #2
    abfunders
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    You didn't say what industry
    Micah Markowitz | mmarkowitz@abfunders.com | 314-396-2828 | abfunders.com
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  3. 03-26-2024, 03:13 PM #3
    Southern_Funding
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    Airbnb rentals. All deposits are from airbnb, multiple deposits a day.
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  4. 03-26-2024, 03:15 PM #4
    Olderguy
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    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
    1012 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
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  5. 03-27-2024, 01:58 PM #5
    alexandra23
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    Quote Originally Posted by Southern_Funding View Post
    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 ...
    whats credit and TIB.

    alexa@americanchoicecapital.com
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  6. 03-27-2024, 02:14 PM #6
    closer129
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    Quote Originally Posted by Southern_Funding View Post
    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 ...
    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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