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04-28-2015, 05:18 AM #1
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- Join Date
- Apr 2015
- Location
- Louisiana
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- 299
Fuel Transportation Company
I am working with a fuel transportation company in Florida with gross revenues of $12MM. Merchant took out 3 MCA loans with a broker who stacked them within 5 days of one another for a total funding of $450k. Merchant owes about $325k now, and is trying to roll them into 1 new loan in the amount of $500k. Excellent cash flow, and is currently paying $88k/MO on those 3 loans. Owner has 630 credit score, however has a personal tax lien in the amount of $500k from several years ago which is currently in a documented repayment plan with proof of payments. Business had a CH11 in 2008 with successful completion in 2012. Company delivers all over the SE US, has over 100 trucks/trailers. Anybody knows who will fund this type of loan?
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