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03-04-2013, 10:31 AM #1Senior Member
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I have a merchant with a PNC Bank UCC filed against the legal name. The UCC covers his invoices/receivables. The merchant doesn't factor his invoice right now. I think the UCC is blank to protect PNC on a general business loan. Has anyone ever heard of a invoice factoring company taking second UCC position?
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03-07-2013, 08:58 PM #2Member
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Originally Posted by Scott Williams
As long as the bank is willing to take a second position on the receivables, we can factor their invoices. we do an intercreditor agreement. it depends on the other assets that the company has whether pnc would do it.
Ralph
FinishLineCapital.com
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12-30-2013, 06:07 PM #3Veteran
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why would a bank take a second position to a funding company? Why would ANYBODY give up first position? Originally Posted by ralphtomm
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04-23-2013, 11:44 AM #4Veteran
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They demand first position....and they bank most likely did tha due to a loan of some sort. NO WAY they will take second position to a factoring company....EVER Originally Posted by Scott Williams
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03-26-2014, 11:10 AM #5Senior Member
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I've definitely never heard of any Factoring company taking second position. Would be interested to know if one exists anywhere. Originally Posted by Chambo
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