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07-07-2015, 01:59 PM #1
- Join Date
- Jun 2015
- Posts
- 11
Seeking Lender to Buy Out Recentky Funded Loan
As you might be able to tell from our name, we are primarily factoring brokers. We have a prospect who recently received a loan from a lender who refuses to subordinate to an incoming factoring company. Looking for a funder who will take out the existing lender and subordinate their interest to the factor (or alternatively not file a UCC1).
Deal specifics are as follows: Small trucking company. Initial loan amount was $18,000. Loan secured June 10th. Daily debit is $139.05. The owner’s credit score is 610 and they avg. 15 deposits per month totaling approximately $27,000. Challenges are as follows: industry = trucking, loan just signed so prospect will not receive any funds from refinancing, current lender is difficult.
For further information or to express interest, please contact sales@factorfinders.com.
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07-07-2015, 02:46 PM #2
- Join Date
- Jul 2015
- Posts
- 58
Seeking Lender to Buy Out Recentky Funded Loan
Hay please give me a call if all us true I will go up to 26-k for the same daily amount.
Last edited by CLucas; 07-07-2015 at 03:26 PM.
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07-07-2015, 03:01 PM #3
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Seeking Lender to Buy Out Recentky Funded Loan
we are also a factoring broker and have successful in getting mca's subordinated.
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07-08-2015, 10:12 AM #4
- Join Date
- Mar 2014
- Posts
- 4
We work directly with Trucking industry. I am happy to take a look at this deal. Please contact me directly tdube@priorityfundingsolutions.com.
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07-08-2015, 10:23 AM #5
- Join Date
- Jun 2014
- Posts
- 59
This is a situation we are open to on deals >$50,000.
brandon@kalamatacapital.com
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07-08-2015, 10:25 AM #6
- Join Date
- May 2015
- Location
- NC
- Posts
- 208
with a 610 credit score?
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07-08-2015, 11:13 AM #7
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Seeking Lender to Buy Out Recentky Funded Loan
your client probably has about $40,000 in receivables. why not use the $32,000 advance to buy the lender out then get him a new MCA if he needs it.
i assume you are using your own factoring company. Even if not, whats the problem?
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07-08-2015, 02:19 PM #8
If the client has collateral, WBL can lend up to 3X their monthly deposit volume.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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