Quote Originally Posted by stat View Post
John, qualifying or not qualifying for a refi isnt the issue here, the nature of my question was regarding 2nd position lenders not how to refi. Merchant is 40% paid off on an 18 month term and is not interested in paying the balance off to get additional capital, he wont budge with me or any other guy who sells him "hard" on a first position deal, the numbers just wont work in his favor and he is aware of this. These situations do exist, and there are lenders who specialize in this...and thats what im looking for.
I was referring to your first post where you said the sticking point is interest on interest, you didn't saying anything about 40% paid in. If that is the case IOU, and Quaterspot are the only banks I know that gives a decent factor rate and term for second position deals.