[Fundyman]

Company has some months doing close to $1MM.
One large advance over $360K; other smaller ones.
FICO is in the high 6's.

Looking for $850-950K to pay off existing advances, and take a bit in cash out.

If you are able to do such deals in-house for that amount, send me a shout.
PM or email: solidmerchantsolutions@yahoo.com

[MatthewAStucchio]

Company has some months doing close to $1MM.
One large advance over $360K; other smaller ones.
FICO is in the high 6's.

Looking for $850-950K to pay off existing advances, and take a bit in cash out.

If you are able to do such deals in-house for that amount, send me a shout.
PM or email: solidmerchantsolutions@yahoo.com

If client has real estate with equity WBL can get this done. Give me a call to discuss. Thank you

[omegafund]

He may be a candidate for invoice factoring line of credit.
What are the exact balances with the other advances?

info@omegafund.com

[bdshaw]

I agree with Omegafund.
We have several companies on the books in that industry.
Bob Shaw
rshaw@advancecredit.com
734.929.3800

[Fundyman]

He may be a candidate for invoice factoring line of credit.
What are the exact balances with the other advances?

info@omegafund.com

Total about 670K between other advances. They do about $7.5MM gross yearly.

[Michael I]

Wow who are they with ? Did you see he's finicails is he like the standard staffing companies working on 2% margins ? Usually with staffing money is mainly a pass through. 1 million usually turns into like 100k - 200k in real revenue

[sigmundpannu]

sounds to me like he is already maxed out. he does about 625k gross/MO and already has out 670k in advances. plus most companies who offer consolidations won't consolidate that much in fear the merchant will stack again. Nulook and golden pear may be worth a shot but I wouldn't bank on this or spend your comission before you get paid.

[Fundyman]

sounds to me like he is already maxed out. he does about 625k gross/MO and already has out 670k in advances. plus most companies who offer consolidations won't consolidate that much in fear the merchant will stack again. Nulook and golden pear may be worth a shot but I wouldn't bank on this or spend your comission before you get paid.

Thanks for the wise advice! I've learned this already in the past the hard way.

[bdshaw]

I would guess at their sales level they have around $900,000. of receivables that will result in $720,000 in cash.
Additionaly we have had success in convincing MCA lenders to subordinate their liens lifting the requirement to pay all of them off.
Bob

[Fundyman]

I would guess at their sales level they have around $900,000. of receivables that will result in $720,000 in cash.
Additionaly we have had success in convincing MCA lenders to subordinate their liens lifting the requirement to pay all of them off.
Bob

Well, that would be great! In that case, it seems they can consolidate the MCAs and still get factoring done..

[GMFunding]

Do they own their own personal residence? Don't need to use it as collateral but could work on a consolidation for them. More than likely Invoice Factoring isn't going to work as they most likely have one already with that volume or have a lien from a bank/lease in place which won't subordinate.

[Fundyman]

Do they own their own personal residence? Don't need to use it as collateral but could work on a consolidation for them. More than likely Invoice Factoring isn't going to work as they most likely have one already with that volume or have a lien from a bank/lease in place which won't subordinate.

Owns 3 properties, 2 small ones free&clear, I believe, with about $300K equity total.

[bdshaw]

I agree. Lets talk about the details of the deal.
Bob Shaw
bshaw@advancecredit.com
734-929-3800

[MechantLoans]

If you are talking about the Staffing company in Ohio, they already defaulted with their main lender, didn't make a payment for over a month. I hear they got funded and then stacked up with three different lenders, lol, this industry is out of control, why shop a piece of do-do deal like this?

[bdshaw]

Regardless as a factor we finace co.panirs that have defaulted on loans frequently.

[Fundyman]

If you are talking about the Staffing company in Ohio, they already defaulted with their main lender, didn't make a payment for over a month. I hear they got funded and then stacked up with three different lenders, lol, this industry is out of control, why shop a piece of do-do deal like this?

Hey, if it's a piece of doodoo deal, thanks for the heads up! But then again, knowing the industry, you got expert stackers selling the merchant the world $50-100K at a time; any wonder why they default, with 8K in daily payments?? Whatever the scenario, I won't waste too much time on this deal if it isn't fundable..

[MatthewAStucchio]

Owns 3 properties, 2 small ones free&clear, I believe, with about $300K equity total.

WBL can take look if they are willing to use these properties...