Results 1 to 12 of 12
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11-11-2015, 04:53 PM #1
- Join Date
- Jun 2015
- Posts
- 22
Restaurant/Bar with no positions
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.
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11-11-2015, 04:58 PM #2
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
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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11-11-2015, 05:03 PM #3
- Join Date
- Jun 2015
- Posts
- 22
Thanks, Zach. Unfortunately, he is renting the property as well as his current residence.
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11-11-2015, 06:41 PM #4
- Join Date
- Apr 2015
- Posts
- 297
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.
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11-11-2015, 06:58 PM #5
Don't think ARF would do a business only open for 9 months
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11-11-2015, 09:32 PM #6
- Join Date
- Apr 2014
- Posts
- 781
arf is out
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11-12-2015, 09:16 AM #7
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
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.
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11-12-2015, 09:23 AM #8
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Andy: Just guessing that CC account for 90% of the deposits. Restaurants NEVER want to pay sales tax on their cash sales
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11-12-2015, 09:37 AM #9
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
That was my thoughts too.
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11-12-2015, 11:12 AM #10
We're able to fund businesses as new as six months. Shoot me an email and we could talk more in depth
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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11-12-2015, 02:17 PM #11
- Join Date
- Jun 2015
- Posts
- 22
Andy,
100k is his current monthly gross and most is coming from deposits from merchant processing.
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11-18-2015, 06:17 PM #12
- Join Date
- Jul 2015
- Location
- Tampa Florida
- Posts
- 502
I can do deals with merchants open as little as 4 months
Jason H l Sales & Business Development
Quikstone Capital Solutions l Tampa FL
Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
Jason.Hausle@quikstonecapital.com
www.quikstonecapital.com
Direct Lender Since 2005
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