Consolidation Needed for 2 of 4 balances...
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  1. #1
    Senior Member Reputation points: 1393
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    Consolidation Needed for 2 of 4 balances...

    Thanks in advance for recommendations:

    Merchant averaging $475,000 over last 3 months.

    Has four balances totaling $350,000.

    Lowest two balances are $60,000 and $55,000 respectively, down each about $5K by end of week.

    Currently at a 32% draw on revenue. Looking to sub out at least the two lower balances.

  2. #2
    Senior Member Reputation points: 78900 Olderguy's Avatar
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    Sep 2021
    Location
    Irvine, CA
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    2,380

    Does this merchant qualify for something better than 4 positions at 7.5% of revenue?
    Taking out positions with positions?
    And he has cash flow issues?
    How are the financials?
    Any assets, real estate we can use?
    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.

  3. #3
    Banned Reputation points: 50761
    Join Date
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    Quote Originally Posted by Quickfunder View Post
    Thanks in advance for recommendations:

    Merchant averaging $475,000 over last 3 months.

    Has four balances totaling $350,000.

    Lowest two balances are $60,000 and $55,000 respectively, down each about $5K by end of week.

    Currently at a 32% draw on revenue. Looking to sub out at least the two lower balances.
    Appfundingbeta would do this deal for you.

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