[Chambo]

Need a direct funder for a 2nd position. Construction. revenues declined by half due to winter and coming into busy season.

150K monthly. Need a 6-9 month term.
Not interested in 1.4+
They currently average 150k monthly

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

[brokerCompany]

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

[Lmonus]

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

150k avg rev 2nd position sounds like a deal most funders would love to price and fund. Why is there an issue placing this deal? Are Balances bad? Did they just take funding last week? Seems like an easy to fund file no?

[brokerCompany]

150k avg rev 2nd position sounds like a deal most funders would love to price and fund. Why is there an issue placing this deal? Are Balances bad? Did they just take funding last week? Seems like an easy to fund file no?

Decline in revenues. they were doing 350k monthly. seasonal they will be back to work with similar deposits starting next month

[Lmonus]

Decline in revenues. they were doing 350k monthly. seasonal they will be back to work with similar deposits starting next month

Grab 12 months statements so you can show the "In Season" rev - this seems doable to me.