Results 1 to 13 of 13
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01-28-2016, 03:09 PM #1
- Join Date
- Jan 2015
- Posts
- 77
Subordinate to a factoring company (Time-Sensitive)
I am doing a general inquiry on who will subordinate to factoring company and simultaneously payoff another lender?
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01-28-2016, 03:24 PM #2
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
We do that with about half the of the deals we fund, especially when consolidating. Just sent up an Intercreditor agreement with the factor. In fact, we have two that we are funding right now (one for $400k and one for $1.3M) where there is a factor in place and we fund behind them with an Intercreditor.
Best,
Dan Page
dan@fundingstrategypartners.com
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01-28-2016, 03:37 PM #3
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,499
Just sent a PM
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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01-28-2016, 07:23 PM #4
- Join Date
- Apr 2015
- Posts
- 297
Most lenders will. Haven't really ran across any that wouldn't but that doesn't mean there aren't any who won't.
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01-29-2016, 11:18 AM #5
- Join Date
- Jan 2016
- Location
- New York City
- Posts
- 9
Quarterspot does not file UCC and we consolidate up to 2 positions.
Last edited by alima-Quarterspot; 01-29-2016 at 11:25 AM.
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01-30-2016, 01:31 AM #6
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01-30-2016, 01:36 AM #7
- Join Date
- Jul 2014
- Posts
- 1,746
Subordinate to a factoring company (Time-Sensitive)
Quarterspot still not requiring personal guarantees? Also, what does the merchant have to net when buying out another advance?
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01-30-2016, 08:30 PM #8
- Join Date
- Jun 2015
- Posts
- 3,325
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01-31-2016, 05:07 PM #9
- Join Date
- Oct 2014
- Location
- NYC
- Posts
- 35
We can fix that. Email me at mike@quarterspot.com.
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01-31-2016, 05:09 PM #10
- Join Date
- Oct 2014
- Location
- NYC
- Posts
- 35
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02-01-2016, 10:05 AM #11
- Join Date
- Jul 2014
- Posts
- 1,746
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02-01-2016, 10:24 AM #12
- Join Date
- Jan 2016
- Location
- New York City
- Posts
- 9
We still do not require person guarantees for funding.
We require the borrower to net 45% of the approval after paying off.
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02-01-2016, 12:13 PM #13
- Join Date
- Aug 2015
- Location
- miami
- Posts
- 48
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