[upperlinecap]

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

[Zach]

WBL would be a great fit for a client like this. We can pay off all of their balances and allow them to net some additional capital. Even without collateral, it's possible we can help them get something done.

Feel free and call or email me to discuss.

[fnunez]

..

[Chambo]

Hello Allen,

I am with BFS Capital (a direct lender) if you want me to turn this file into underwriting e-mail me at fnunez@bfscapital.com and I can have an answer for you in a day or less.

Thank you.

BFS won't touch this deal....too many positions. Plus, BFS requires on TWO positions that the merchant net 75% of the deal....

If you are going to advertise on this board, please be honest and accurate

[FUNd]

He said he'd have an answer, he just left out the part that the answer will be "NO".

[dpFund]

Hey Allen,

I am a direct lender and do the types of consolidations you are requesting all the time. From your description above, the biggest issue I see is their time in business. If they just launched in 2015 and are less than a year old, I'm likely to choke on it. But if there is some history, then it might be a fit. Feel free to reach out.

Best,

Dan Page

dan@fundingstrategypartners.com

[bdshaw]

I've thought about this since we last spoke. Since there are no assets to secure, the client may be prime for a SBA Fast Track loan.
They have a 150K program that is uncollateralized, mid single digit interest rate and 10 year terms and generally 30 days to put in place.
Dan's correct about their time in business but we can get around that if the principals have other experience in the same industry.
Bob