Which lenders can pay off $160K exisiting loan?

**NCL** · 02-09-2015, 04:41 PM

I know most lenders can only payoff up to $75K existing balance. Can anyone suggest one, I have a client doing over $300K a month in bank deposit but has $160K in existing balance. Wants $100K cash too.

**Jared_Weitz** · 02-09-2015, 04:45 PM

Is it one balance that equals 160k or 2 or 3 that equal 160k?

**NCL** · 02-09-2015, 04:55 PM

2 balances, 1 is $160K, the other one is just a small 2nd position $11K balance.

**mcaguru** · 02-09-2015, 05:06 PM

email bizdev@cresthillcapital.com i can lead you in the right direction.

**MikeC524** · 02-09-2015, 05:32 PM

It would be easier to pay off the 11k and get a nice amount on a 2nd. It's probably going to be difficult to pay off the 160k until you wait to get that amount lowered. It's possible but would all depend on industry, credit, and what state there in.

Mike@SamsonPartnersLLC.com
O# 347-492-1801
C# 917-689-1502
F# 718-304-1163

**mcaguru** · 02-09-2015, 05:50 PM

Mike at Samson can get it done!!
bizdev@cresthillcapital.com

**TheChoice** · 02-09-2015, 11:55 PM

It would be much easier to assume the second, than buy out first and second, however, if the merchant does have A credit, good industry, healthly ledgers, numerous deposits, high monthly revenue, and numbers that substantiate the payment as well as the advance, feel free to call me. As long as the deal make sense, you should be able to buy out both positions, make the client happy and fund top dollar. PM Me if you would like to discuss. Choice.

**TheChoice** · 02-10-2015, 12:05 AM

If you take the lower tier position, most likely you'll be offered a third and it would be the merchants responsibility to buy out the second. It should be a nice second, but if the merchants looking to maximize dollar amount with one position and payment, you can go a whole different route. It's all about managing the expectations of the client as long as its a reasonable request substantiated by their financials and credit history. Choice.

**jhancockMAE** · 02-10-2015, 07:29 PM

Why would you re-factor 160k? In the end the merchant would only net approximately 140k, don't you think it makes more sense to get him in a new 3rd position for 100k over 6 months? I have relationships with lenders who would be more then happy to look into a file like that. E-mail me with more information regarding the file. jhancockmae@mcamerchant.com

**Chambo** · 02-10-2015, 08:03 PM

A six month 100K THIRD position? for real?

**JSL23** · 02-10-2015, 08:22 PM

i had a Merchant who owed about the same amount and got a $400,000 offer, so it is doable but their statements have to be PERFECT...deposits, balances, no NSFs, good credit, etc. It will help a lot if they take credit cards as well.

**anydealfunded** · 02-10-2015, 08:43 PM

A 6th month 100k 3rd position......who does that???? They must be in the business of losing money. In my opinion speak to funding circle for a refinance and that will open up their affordability again. Feel free to reach out if you have any questions. Henry@trustcapitalfunding.com

**bizloanbroker** · 02-11-2015, 06:45 AM

Cap assist

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