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01-28-2016, 09:08 AM #1
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- Join Date
- Nov 2014
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$4.5 million revenue fitness/health & wellness biz, seeking consolidation
Trying to assist a fast growing business that manufactures and sells a popular fitness product. They launched the sale of the product last year to both the gym channel and direct to consumer and are on an annualized revenue run rate of approx $4.5 million.
Revenue for last 3 months is as follows:
Oct 2015: Approx $487k
Nov 2015 Approx $550k
Dec 2015 Approx $550k
Because they experienced so much growth, they have been scrambling to pay for the increased production runs of their product. As a result, they took the following advances/loans:
1.BIZ FI: $250,000 (Merchant Loan with 300k to pay in a first position).....$1362 per day
2. Smart Business Funding (second position of 75k with about 85k owed).....$690 per day
3.TVT Merchant (third position of 60k with about 85k owing)....$750 per day
4. Yellowstone Capital (4th position of $37,500) ....$799 per day
Total payment of $3601 per day..they are managing this total amount without any problem (daily balances in high five figures) but would like to consolidate and refi positions 2 through 4 (total of approx $205k) or all of them (total of approx $500k). In either scenario, they would like to net $100k to $150k if feasible. But the main objective is getting these payments on a longer term payback schedule so will have a little less impact on the cash flow. He is NOT interested in stacking another balance.
I know this may be a tall order given his existing balances. But I wanted to see if there are any direct funders here that would be interested in digging and seeing if there's a deal here
Please PM me if so.
thanks
Allen
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