Looking for lender to take out a 2nd position
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  1. 07-01-2015, 06:46 PM #1
    Miller192
    Miller192 is offline
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    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.
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