Results 1 to 9 of 9
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12-28-2015, 11:54 AM #1
Need Short Term Lender
Trucking Company - TIB 3+ years - Mid 500's Credit - Deposits over $150K each month - Decent balances - Looking for $50-75K for no longer than 30 days.
Already approved for $75K but the lender doing the loan wants somewhere in the neighborhood of $9,000 for the cost of money. Can anyone do it cheaper for a 30 day note?
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12-28-2015, 11:56 AM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Would they consider factoring their receivables?
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-28-2015, 12:11 PM #3
Possibly...He does have some outstanding receivables to the tune of $70-80K a piece
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12-28-2015, 12:15 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Please give me a call when you are free. 561-623-1872
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-28-2015, 12:23 PM #5
- Join Date
- Apr 2015
- Posts
- 42
Just sent you an email.
Let's chat.Ron Hizkiyahu
Business Development & ISO Relations
VitalCap Fund | 48 Wall St. | New York, NY 10005
P. 212.994.6996 Ext.101 | F. 646.219.7949
ron@vitalcapfund.com
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12-28-2015, 12:32 PM #6
We work with a variety of invoice factoring companies (IFC) to fund businesses. Works like an credit card split. On each invoice the IFC pays the business on, a specific amount is sent to us to pay down the funds. We currently work with seven factor companies and have the ability to set up businesses who qualify with IFC's.
Feel free to reach out for more information
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12-28-2015, 01:28 PM #7
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
What are the use of proceeds? We can go as low as 1.08x but won't be able to do that with up front 5% commission.
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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12-28-2015, 02:01 PM #8
He's using the funds to bridge a gap in his pay cycles. He was used to getting paid every week...but recently it switched to every three weeks.
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12-28-2015, 06:40 PM #9
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
As Kevin said, he is probably best suited for factoring, but we are happy to take a look if factoring won't work.
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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