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06-24-2015, 11:14 AM #1
- Join Date
- Jun 2015
- Posts
- 32
Need a lender for a Merchant behind rent (Has a payment plan)
Will any Lenders do a deal with the merchant behind rent 4 months? He has been at the location for over 13 years & went thru a slow winter which got him behind. He currently has a payment plan in place with the landlord. Looking for funds to pay him off.
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06-24-2015, 12:08 PM #2
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
Balance with any MCA's? How much is the rent per month? Industry type?
That can be a tough issue but not impossible if other aspects of the deal can outweigh that negative.Isaiah Clark
General Merchant Funding
Hartford, CT 06103
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06-25-2015, 08:54 PM #3
- Join Date
- Jun 2015
- Posts
- 13
If he's in an area affected by the winter, actually affected is the key part, he shouldn't have too much trouble with the NY lenders.
Otherwise can the back rent be paid directly by the lender. A couple good lenders will pay it out of the loan but they each have particulars governing the max allowed (similar to paying another MCA off). GL.
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