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05-02-2024, 01:20 PM #1
NO WAY you are getting$150K as a second, when they average $150K. Also depends on what the first position offer was. 99% of funders out there will NOT offer more money or longer term on a second.
Unless they are willing to go the invoice factor or SBA route (but those sources are going to want to have 1st pos on UCC, so they would look to buy out whatever is already out there), 1.4+ rates are what are going to be offered across the board
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05-02-2024, 01:37 PM #2
I was not asking for 150k MCA, that is what his current monthly deposits ar 150k monthly. Invoice Factoring, equipment financing not a fit for the merchant. Also they just did not want a loan that showed up under personal credit inquiry or as a debt on the personal credit.
If he get over 1.4 on a 2nd then we sell it. Just wanted to know who does the 2nds positions on seasonal type business.
Thanks for all those who responded we are well aware of the other options that are out there but they dont work for this merchant
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05-02-2024, 01:43 PM #3
- Join Date
- Mar 2016
- Posts
- 904
Thank you,
Lior Monus
Business Development Manager
CFG Merchant Solutions
Direct: (646) 880-6764
Cell: (516) 319-5826
Fax: (646) 278-7322
Lmonus@cfgms.com
180 Maiden Lane New York, NY 10038
www.cfgmerchantsolutions.com
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05-02-2024, 01:49 PM #4
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05-02-2024, 02:20 PM #5
- Join Date
- Mar 2016
- Posts
- 904
Thank you,
Lior Monus
Business Development Manager
CFG Merchant Solutions
Direct: (646) 880-6764
Cell: (516) 319-5826
Fax: (646) 278-7322
Lmonus@cfgms.com
180 Maiden Lane New York, NY 10038
www.cfgmerchantsolutions.com
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