[Triton]

I have a client who does about $750-800k a month. His factoring company is screwing him with a 50-55% lockbox so he is only showing $250-$350k a month in bank statements. Averages $40-50k in cc's and has a credit score of 700+.
Also has 6 balances. 1 will be paid in full this Wednesday and another on Monday. Currently paying over $2000 a day and the total balance is around $70k.

Looking for 1st position for $250k. Willing to sign a declaration with any recourse deemed necessary by the lender swearing to not take additional funding after you.

If you can help with this let me know.

I will say direct lenders only because most brokers cannot guarantee they can do this and I do not want to shop my client. I have been sitting on this file for a week looking for the right place for them.

Thanks in advance

[dpFund]

Triton,

Thanks for your thoughtful presentation for the client consolidation. This is directly in my wheelhouse. I am a direct lender and I have a dozen clients on the way to closure right now that fit the profile you describe above.

6 balances at $70k is not a problem. Cash out is not a problem either (but also not a requirement), as long as the numbers add up and the client can meet his obligations. Payments are monthly, so it looks like a term loan.

Here is what I would need to give you quick feedback:

1.) 2014 and 2015 YTD P&LK and Balance Sheet
2.) Six months of Bank Statements
3.) Brief (1 page or less) Exec Summary describing the client's business and what they need
4.) Debt Schedule showing amount owed and daily payments

Let's talk at your earliest convenience.

Please call me at (303) 938-8280 or email dan@fundingstrategypartners.com.

I'm on the phone with clients a lot, so sometimes the best way to catch each other is through my online scheduler:

http://meetme.so/DanPage

Thanks,

Dan Page

[bdshaw]

Why is the factor screwing them?
If not for a good reason you should explore having your client change factors to us.
You can do this in conjunction with an advance if you make sure the advance lender either does not file a lien or agrees to subordinate the one they do file.
Bob Shaw
734-929-3800
rshaw@millenniumfundingusa.com
rshaw@advancecredit.com

[Robert Morris]

Call me 1917-742-4585 we can def work something out

[Triton]

Robert what company do you work for?

[DWAYNE WEBSTER]

Give me a call I can help on this one 3474528009

[Triton]

Same question for you Dwayne.

What company do you work or?

[FundMaster82]

Is the merchant in the health/medical industry? If so give James Graydon a call at ProMED Healthcare Financing, 631-468-6325.

I have a client who does about $750-800k a month. His factoring company is screwing him with a 50-55% lockbox so he is only showing $250-$350k a month in bank statements. Averages $40-50k in cc's and has a credit score of 700+.
Also has 6 balances. 1 will be paid in full this Wednesday and another on Monday. Currently paying over $2000 a day and the total balance is around $70k.

Looking for 1st position for $250k. Willing to sign a declaration with any recourse deemed necessary by the lender swearing to not take additional funding after you.

If you can help with this let me know.

I will say direct lenders only because most brokers cannot guarantee they can do this and I do not want to shop my client. I have been sitting on this file for a week looking for the right place for them.

Thanks in advance