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03-05-2015, 05:45 PM #1
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Restaurant - AZ, NSFs- Good Deposits
I have a Restaurant that has had some substantial offers and died due to NSFs. He is tired of getting low balled and would like substantial funding for St. Patties Day and he is wanting to expand to another location (eta summer/fall).
He has a first position that he owes $6,xxx. NSFs happened 2 days out of the month due to funds not clearing. I would like to get him a split over the next 10 Months at about $70-90k if possible. Credit 600ish - No collateral - In Business since 2008 - ongoing Grouponer, business is consistent.
Bank
Dec - $116k
Jan - $81k
Feb - $116k
CC
Dec $66,811
Jan $66,822
Feb $75kAmanda Kingsley
DailyFunder: WhoisKingsley
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03-05-2015, 05:54 PM #2
is the position a cc split? seems pretty reasonable if you say he only had 2 NSFs
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03-05-2015, 06:03 PM #3
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- Jul 2014
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3 days of NSFs ... = so about eh... 21 X_X. It was all checks that didn't clear. We have had several talks about money management.
He has a split now- yes. Cards are consistent and are about 90% of his sales. Processes with PriorityAmanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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03-05-2015, 06:12 PM #4
why would a CC split care about negative days? youre getting played
Anthony Diamond
Underwriter
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03-05-2015, 06:20 PM #5
Amanda, lets talk PM me
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03-05-2015, 06:42 PM #6
Restaurant - AZ, NSFs- Good Deposits
Call CapRock!
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03-05-2015, 07:11 PM #7
$80K 10 month, 1.30 would suck out 9.9% of his gross sales. I guess it depends on what the fund would be comfortable with. They would have to buy out that CC deal and replace it with their own split. 3 days of NSF's a month is not going to get him a 10 month ACH deal
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03-05-2015, 07:54 PM #8
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Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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03-06-2015, 03:14 AM #9
- Join Date
- Jan 2015
- Posts
- 23
Restaurant - AZ, NSFs- Good Deposits
i can have this funded by the end of the,day tomorrow. 7182393527 or 9177544566 JR
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