[fbilson]

Merchant has 3 loans out totaling around $310,000 and daily payments around $2500.

Has 4 bank accounts totaling on avg $240,000 monthly.

Merchant wants to consolidate 3 loans and set daily payments around $2000

Or have a buyout and get more $ on top.

Or take 4th position ?


Whose interested ??? or who can I send to ?

[SBF]

Will be tough.. Pearl or YS might consider doing a 4th layer.. or try Payroll Funding for consolidation..

[fbilson]

Not understanding how it works with Payroll funding as their terms are only 6 months ?

[Funder Mark]

That depends on his daily balances, if he gets a 4th, and geting a renewal would be tough, that depends on how much he can net after.

[J.Celifarco]

owes 310k and doing 240k this guy is already over leveraged.. How can anyone payoff that amount with the gross where it is.

240,000k gross if you want to do a 12 month program then most banks who offer that will take 10% of gross as payments which means max payments of $24,000 per month.
$24,000 x 12 months = total payback after the factor rate of $288,000

even if someone was willing to payoff 3 advances and give that kind of money to 3 of their competitors (which I highly doubt anyone would do). Even if they would the numbers just don't work. With the payments of $2000 a day that you are suggesting you are asking a bank to be ok with with a 17.5% gross for a 12 month program. Not going to happen

[Crdeals]

Any assets or colleteral

[Alberto Ruvalcaba]

Pm sent

[Alberto Ruvalcaba]

I have a lender who does exactly what you are trying to accomplish. Pm me for more info.

[SmartSeedCapital]

I have the perfect investor to handle this account, how much does this merchant bring in a month and what is there average reserve balance? lets get this deal done give me a ring or feel free to email it over ASAP.

Tel: (860) 890-7220
Toll Free Fax: 1(844) 279-7010
Email: Michael@smartseedcapital.net
Web: Smartseedcapital.com

[FCF Fund]

If you truly want to Refinance this merchant and get him out of the daily nightmare, assuming he is profitable in 1 of the 2 years, been in operation over a year and has 600 FICO with no liens/BK take him to some of the online term lenders. Online lenders will do about 20-25% of his gross so the merchant by the soft numbers could qualify for a 500k deal.

PFS basically reimburses the merchant the total weekly remittance plus their own daily debit and their commission structure is not very competitive, plus they charge high factors. Not a true refinance, just a high factor on top of other high factors and they pay off the other MCA phase by phase not a lump sum payoff.