[Will Sanio]

I have TX Co; Has 2 Adv; Curr Bal $200K; Does $443/Mo; Would Like up to $150K

I am interested in talking about / discussing this deal. If you respond thank you, however,
please reply with more than "we may be able to help". I can contact you or you / me to discuss
specifics. Want to discuss first to try to determine if viable, not assembly line processing. Don't want to get useless inquiries. Thanks,

Will
Tel: 919-771-4177

[Chambo]

Merchant does $443,000 a month? If CLEAN, they qualify for $250-275K. Rapid only required 40% net, and that isn't enough.

Will have to try ARF or WBL in this case. Or take a (gulp) third position

[anonymous]

Or have someone take out the lower balance and come in at 2nd (for $150K, less the lower balance) if its clean. Or if one of the existing positions is a CC split, you can come in with a $150K 18 month 3rd position as some A-Paper funders don't consider a CC split to be a position. Additionally, those same lenders base their approval amount on ave balances more than revenue - making the deal/amount possible.

Not going to tell you how or where, just letting you know what we (DF community) can get done, which is what you're up against in this industry... Good luck out there.

[Chambo]

Or have someone take out the lower balance and come in at 2nd (for $150K, less the lower balance) if its clean. Or if one of the existing positions is a CC split, you can come in with a $150K 18 month 3rd position as some A-Paper funders don't consider a CC split to be a position. Additionally, those same lenders base their approval amount on ave balances more than revenue - making the deal/amount possible.

Not going to tell you how or where, just letting you know what we (DF community) can get done, which is what you're up against in this industry... Good luck out there.

They don't ? WHO?!?!

[anonymous]

will pm you

[Regium]

If they do, not an A-paper funder

[anonymous]

If they do, not an A-paper funder

If you say so.

[Sachip24]

if you're still looking for place, I have a lender that will lend 10% of gross annual income going strictly off past two years tax returns no credit or anything else. if interested PM me and I will send you over an agreement.

[CreditGuy]

If you say so.

I'm an A paper funder, and I say so.

One way I could think you arrived at this conclusion is it is a funder that has a program that only requires banks (no processing statements), and you know about the split and don't disclose it to them, and there is also no UCC filing from the split lender so it slips by their UW. If that's the case, that's you being dishonest and not the lender not considering it a position.

The other option is that they truly don't care, in which case they are stupid because while the cash flows reflected on the banks are net of the repayment on the split product, there is already a sizable chunk of revenues coming off the top given the split lender UW a first position deal, so likely 15-20% assuming a term under 12 months. As such, taking another position would further eat into cash flows, which are already discounted due to the split, so in terms of total repayment the borrower is looking at 30-40% of gross revenues, which is suicidal. If you sell them on the second, you aren't working with the borrower's best interest in mind and the lender is equally greedy and/or culpable.

Selling seconds, selling thirds that are really seconds based on ignorance/loopholes, calling lenders that do seconds "A-paper"...are you frittata or just greedy?

[anonymous]

Well... A Paper lender or not, you are incorrect. Also worth noting that I disclose everything to our lenders and scrub files like no other. I have nothing to gain by saying any more and you're all welcome to assume that I am lying.

[CreditGuy]

K.

[dpFund]

Will Sanio - I am copying another post I just made to a similar situation, below. If your client is looking to consolidate and take out cash, I can likely help (I am a direct lender). If he simply wants a third position, I am not your guy. :-)

Please see below:

I am not a MCA lender, but I consolidate MCA loans (Over $2M consolidated in the last 60 days). It would require consolidating all the current MCA loans and client would need to understand he cannot stack on top of us for the term of funding (yes, I do prevent him from doing so).

Twelve month term, monthly payments. Can go longer if the numbers shake out. I can usually get payments down to about one third of what they are paying now. Multiple positions are OK, as long as the numbers flush out and the client can demonstrate the ability to meet their financial obligations.

In order for this to work, the client's business would need to be right side up and generating a profit (sorry, cannot consolidate clients that have painted themselves into a corner so badly they are losing money, even with my consolidation), or clearly demonstrate how they will turn a profit after the MCA consolidation.

Email me to set up a time to talk if you are interested.

Best,

Dan Page
dan@fundingstrategypartners.com
Direct: (303) 938-8280