$60,000 monthly deposits, needs to re-fi 2 outstanding advances
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  1. #1
    Senior Member Reputation points: 8723
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    $60,000 monthly deposits, needs to re-fi 2 outstanding advances

    Hi, having a tough time finding a home for this deal.

    -Metal fabricating company
    -Avg. monthly deposits $60,000
    -NSFs June and July, but none in Aug, Sept.
    -Outstanding: PIRS - $700, last payment 10/22
    -Outstanding: Yellowstone - $6,800
    -Credit sub-600

    Wants to re-fi and net $15-$20k for working capital.

    Where can I take this?

  2. #2
    Senior Member Reputation points: 113 MatthewAStucchio's Avatar
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    Quote Originally Posted by helpinghand View Post
    Hi, having a tough time finding a home for this deal.

    -Metal fabricating company
    -Avg. monthly deposits $60,000
    -NSFs June and July, but none in Aug, Sept.
    -Outstanding: PIRS - $700, last payment 10/22
    -Outstanding: Yellowstone - $6,800
    -Credit sub-600

    Wants to re-fi and net $15-$20k for working capital.

    Where can I take this?
    If any RE is available with equity and client is willing to pledge WBL can help.
    Regards,

    Matthew A. Stucchio
    Associate

    World Business Lenders, LLC

    120 W. 45th St.
    5th & 29th Floor
    New York, NY 10036

    Main: (212) 293-8200
    Direct: (212) 220-6018
    Fax: (646) 417-7161
    Email: Mstucchio@wbl.com
    www.WBL.com

  3. #3
    Email me, joe@berkmanfinancial.com. I may be able to work this.

  4. #4
    Banned Reputation points: 4530
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    Metal company

    Quote Originally Posted by helpinghand View Post
    Hi, having a tough time finding a home for this deal.

    -Metal fabricating company
    -Avg. monthly deposits $60,000
    -NSFs June and July, but none in Aug, Sept.
    -Outstanding: PIRS - $700, last payment 10/22
    -Outstanding: Yellowstone - $6,800
    -Credit sub-600

    Wants to re-fi and net $15-$20k for working capital.

    Where can I take this?
    If there are no underlying liens the client could factor their receivables and the NSF's would not be meaningful.
    Bob Shaw
    rshaw@millenniumfundingusa.com
    rshaw@advancecredit.com
    734.929.3800

  5. #5
    Member Reputation points: 10
    Join Date
    Jul 2015
    Location
    Michigan
    Posts
    36

    Hi,

    Please check your PM.

    Thank you,
    Tony Colón
    Business Funding Specialist
    248-743-5127
    tcolon@leasecorp.com
    www.LeaseCorp.com

  6. #6
    Senior Member Reputation points: 16709
    Join Date
    Jul 2014
    Location
    Jackson Hole Wy
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    Quote Originally Posted by helpinghand View Post
    Hi, having a tough time finding a home for this deal.

    -Metal fabricating company
    -Avg. monthly deposits $60,000
    -NSFs June and July, but none in Aug, Sept.
    -Outstanding: PIRS - $700, last payment 10/22
    -Outstanding: Yellowstone - $6,800
    -Credit sub-600

    Wants to re-fi and net $15-$20k for working capital.

    Where can I take this?
    Loanme if it is in the right state. Or do invoice factoring. Get him out of a cash advance.
    If you need direction with either contact me.
    info@omegafund.com

  7. #7
    With good balances you can always do a LOC somewhere (if no one will take out both advances)

  8. #8
    Senior Member Reputation points: 68233
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    Dec 2014
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    Quogue, NY
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    How much inventory do they have? Receivables? Are the principals homeowners? Is there equity in residence? Do they have contracts or purchase orders?

    If there are assets this should not be challenging..

    Richard

    www.businesscapitalconsultants.com

    Direct 516 510 3855

  9. #9
    This sounds doable especially since his balances are low. Shoot me an email and we'll see what we can get done!
    Michael Jagiello
    Director of Client Acquisitions
    Blue Granite Funding LLC
    mjagiello@bluegranitefunding.com
    1(718)873-6407 Cell
    1(917)791-8911 Fax

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