borrow against 500k of copper wire.
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  1. #1

    borrow against 500k of copper wire.

    Have an electrician client who has 500k copper wire inventory does 70k monthly. Has three positions currently totaling 30k and September had a bunch of nsfs but October statement is clean. He is looking to do a consolation of all or some of his positions against copper inventory. And take out a bit extra.

  2. #2
    Senior Member Reputation points: 32658 Zach's Avatar
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    I don't know anyone who would use copper (perhaps Pledgecap), but if he has some real estate to pledge I can probably provide exactly what he's asking for.

  3. #3
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    Go direct to a commodity firm that will allow marginable assets.

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    Quote Originally Posted by Zach View Post
    I don't know anyone who would use copper (perhaps Pledgecap), but if he has some real estate to pledge I can probably provide exactly what he's asking for.
    Unfortunately, I think Pledgecap would require them to put the copper wire under Pledgecap's control, which I doubt the client would want to do.

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    Whatever they do even in a grain storage house it will have to be placed there. Try CME, LME. Might even turn out thats where he purchased them from. Should just use margin and take delivery when he needs it from the hedge.
    Last edited by John Galt; 11-08-2015 at 04:10 PM.

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    Suggest to look at the balance sheet and interims. Since the liabilities aren't staggering there a few ABL's out there that give credit lines. If client is a homeowner (and a positive balance sheet) it is almost a certainty. Touch base if you would like assistance.. 100k seems very possible based on info given.

    Richard 516 510 3855

    www.businesscapitalconsultants.com

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    borrow against 500k of copper wire.

    I have not seen this for a while but years ago a lender would place the wire in a bonded warehouse. The bonding company would collect an appropriate amount for whatever inventory the borrower used.
    You might try googling them.
    Bob

  8. #8

    borrow against 500k of copper wire.

    Primebusinesslending.com Nathan is grey over there they will do consolidation and might not even need to collateralize it

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    Advance

    I will be able to help you get the capital you need my email is aaronharrishawkins2013@gmail.com send me and email and let's move forward

  10. #10
    Senior Member Reputation points: 32550 Funder Mark's Avatar
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    Quote Originally Posted by ahawkins12 View Post
    I will be able to help you get the capital you need my email is aaronharrishawkins2013@gmail.com send me and email and let's move forward
    Still with the gmail account? If you cannot afford a website, why would anyone trust you with a deal?

  11. #11
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    Quote Originally Posted by Funder Mark View Post
    Still with the gmail account? If you cannot afford a website, why would anyone trust you with a deal?
    and then after you send it to him he will come on here asking where to send it . I hope people have more sense these days

  12. #12
    Try Credit Junction. They offer an inventory-based revolving line that starts at $200k in inventory or A/R.

  13. #13
    Administrator Reputation points: 59875 admin's Avatar
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    Quote Originally Posted by ahawkins12 View Post
    I will be able to help you get the capital you need my email is aaronharrishawkins2013@gmail.com send me and email and let's move forward
    Nope. Aaron, you're going to have to do better than that. Corporate email address going forward and also provide your company name and office address.

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