Looking for lender to take out a 2nd position
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  1. #1

    Looking for lender to take out a 2nd position

    I've got a merchant who has 3 positions. Banks are strong and can handle it comfortably.

    I've gotten them to agree to not stack anymore and let the advances pay-off in the next few months. However, they would like to obtain some capital now but really don't want to increase their daily output. My thought was to perhaps take out the second position and put it on a 6 month turn whereas it matures with the remaining advances.

    Deposits are $1.3MM per month, high average daily.

    WBL Disclaimer: No, there isn't collateral available.
    Last edited by Miller192; 07-01-2015 at 09:20 PM.

  2. #2
    Senior Member Reputation points: 23085
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    What are their balances with each position? Not many lenders will payoff a high individual balance.

  3. #3

    try financingsolutionsnow.com

    Formally payroll financing solutions they do a lot of debt restructuring with clients in multiple positions. 973-917-2012 Stefani www.financingsolutionsnow.com

  4. #4
    Senior Member Reputation points: 14
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    Quote Originally Posted by Miller192 View Post
    I've got a merchant who has 3 positions. Banks are strong and can handle it comfortably.

    I've gotten them to agree to not stack anymore and let the advances pay-off in the next few months. However, they would like to obtain some capital now but really don't want to increase their daily output. My thought was to perhaps take out the second position and put it on a 6 month turn whereas it matures with the remaining advances.

    Deposits are $1.3MM per month, high average daily.

    WBL Disclaimer: No, there isn't collateral available.
    Shoot me an email and talk nathaniel@vanduraconsultant.com

  5. #5
    Member Reputation points: 194
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    New York
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    please contact me @
    Lmangiameli@lexgf.com
    646 556 6669
    Thanks

  6. #6
    Member Reputation points: 14
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    Jul 2015
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    San Diego California
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    25

    Give me a call (619) 727-6012 Jesus @ Trade capital finance
    Jesus Infante
    Account Executive
    619.592.8000 ext. 409
    619.727.6012
    “Developing Your Company’s Growth And Success Is Our Goal”

  7. #7
    Absolutely.

    Send me an email.

    lconnell@yellowstonecapllc.com

  8. #8
    We often payoff existing positions. Generally we consolidate so long as the merchant can net about 40%. I am sure we can do something here depending on the individual balances.
    Kaitlyn Miller
    ISO Coordinator
    770-617-2377
    KM@SuperiorCapitalfund.com
    http://superiorcapitalfund.com/

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