[snk1lp]

I have a prospect with strong financials: 100k/mo bank deposits with 2-4k avg balances processing 90k in credit cards.

Restaurant/bar 9 months in business. The issue is the merchant is an immigrant investor who received an SSN in May and only has one trade-line open.

He is looking for 50-90k, I am thinking MCA but he will only be receptive to offers below 1.30. His family provided him the capital to start the business and this is his first time not using a bank, so he is rate conscious.

He also has over 100K in FF&E if it helps.

Anyone think this is doable? Looking for direct lenders.

[Zach]

If he has real estate to pledge, WBL would be a great fit for this one. Depending on the program we can get it below 1.30

[snk1lp]

Thanks, Zach. Unfortunately, he is renting the property as well as his current residence.

[Triton]

Try ARF. They specialize in brick and mortar locations. QS would also be a good fit, especially for the factor rate. Plus they are fully amortized by the day.

[Chambo]

Don't think ARF would do a business only open for 9 months

[golf2014]

arf is out

[AndyYSCISOdept]

I can think of a number of options right now, I'll PM them to you, but the one question I do have is this, when you say the merchant has, "100k/mo bank deposits with 2-4k avg balances processing 90k in credit cards."

Do you mean his total is 100K gross and CC's make up 90% of the gross or that he is doing 100K in cash and check and 90K in CC's for a total of 190K?

That'd make a big difference.

[snk1lp]

Andy,

100k is his current monthly gross and most is coming from deposits from merchant processing.

[RichardGerard]

Andy: Just guessing that CC account for 90% of the deposits. Restaurants NEVER want to pay sales tax on their cash sales

[AndyYSCISOdept]

That was my thoughts too.

[Michael Jagiello BGF]

We're able to fund businesses as new as six months. Shoot me an email and we could talk more in depth

[Jason Sterling]

I can do deals with merchants open as little as 4 months