[Keysade]

I have a client with a 700 fico score who has been in business for over 20 years. The industry is storage. The current monthly deposits are 800k. He took on a few mcas recently that shocked his cash flow so he is looking for a longer-term remedy. Any assistance would be appreciated.

[Olderguy]

I can pay them off with a hard money loan on the commercial property if he has equity. Reach out a I need more details. Monthly payment at 1% a month interest only.

[Yankeeman07]

I have a client with a 700 fico score who has been in business for over 20 years. The industry is storage. The current monthly deposits are 800k. He took on a few mcas recently that shocked his cash flow so he is looking for a longer-term remedy. Any assistance would be appreciated.

What amount is the pay-off

How many MCA's?

What are the terms?

[Keysade]

The MCAs are paid off. He has commercial property but it doesn't have much equity.

[Ehenek]

Can you elaborate a bit more on the business/file.

[Yankeeman07]

The MCAs are paid off. He has commercial property but it doesn't have much equity.

I must be missing something - his MCAs are paid off - He does $800K per month.
What is the "cash flow shock" - Property paid off- No Mortgage, correct?

I would anticipate with the amount of cash flow, T.I.B. they would qualify for a better
product than an MCA?

[Olderguy]

Too little information and too vague.

Send me loan app
6 months bank statements
2 years business and personal tax returns
2023 and 2024 YTD P & L and balance sheet
Schedule of liabilities
Fico

If the information is correct, sounds like weak margins.
Need to do a deep dive into the financials to determine what financial instrument would fit now or in the future
Maybe needs accounting team to go in and review and amend financials.

Without this information further discussion is fruitless.

[NickHubbard]

I have a client with a 700 fico score who has been in business for over 20 years. The industry is storage. The current monthly deposits are 800k. He took on a few mcas recently that shocked his cash flow so he is looking for a longer-term remedy. Any assistance would be appreciated.

https://bayfirstfinancial.com/creditbench/

[Keysade]

Correct. He is looking for a longer-term product. He immediately needs extra capital and doesn't have 45-60 days to wait for an SBA. So I was inquiring if anyone had a remedy. Thanks

[Olderguy]

Yes....get him a LOC in 2 weeks and a SBA in 4 weeks. Or get him an immediate MCA with early pay discount and then fund a SBA. I've done a SBA in as little as 25 days with one bank that I deal with....uncollateralized up to $500,000