Results 1 to 25 of 27
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02-12-2016, 11:27 AM #1
Consolidation
Hey guys, kind of a stupid question but going to ask anyway. Have a merchant in the recruitment/placement industry who is doing 750,000/month. Daily balances are relatively strong and does not bounce any payments nor has any negative days. He currently has 5 advances totaling $520,000 with daily ACH's of about 6,000/day.
Is there anyone here that would be interested in buying out his advances? As to the most probably response of "what will stop him from stacking again?" I don't know so save lets leave that alone. If you are interested shoot me a PM.
P.S. He currently has the following (Arcarius, Pearl, EBF, World Global, Arch Capital)
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02-12-2016, 11:41 AM #2
- Join Date
- Apr 2015
- Posts
- 297
Dan Page
Funding Strategy Partners
Direct: (303) 938-8280
dan@fundingstrategypartners.com
www.fundingstrategypartners.com
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02-12-2016, 12:01 PM #3
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,502
We love staffing companies. Is he factoring his 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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02-12-2016, 12:03 PM #4
Dead in the water
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02-12-2016, 12:08 PM #5
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
Consolidation
We can provide a factoring facility and pay off their existing advances and save him a substantial amount.
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02-12-2016, 12:09 PM #6
- Join Date
- Sep 2015
- Posts
- 122
Powerup
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02-12-2016, 12:12 PM #7
- Join Date
- Apr 2015
- Posts
- 297
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02-12-2016, 12:14 PM #8
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02-12-2016, 12:14 PM #9
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02-12-2016, 12:20 PM #10
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
Consolidation
Your client is over leveraged and may be close to hitting rock bottom in my opinion. If he was factoring his receivables, the advance should have provided the necessary working capital to continue growing and eventually graduate to a more traditional funding structure. It looks to me as if the client got used to having more than what he needs which will eventually bring him down.
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02-12-2016, 12:53 PM #11
- Join Date
- May 2015
- Location
- NYC
- Posts
- 197
Sounds like a perfect 6th position to me. Send me a PM and lets get him funded!
Tommy Stein
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02-12-2016, 12:58 PM #12
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02-12-2016, 01:01 PM #13John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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02-12-2016, 01:03 PM #14
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
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02-12-2016, 01:06 PM #15
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
Consolidation
Popcorn time!
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02-12-2016, 01:09 PM #16
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02-12-2016, 01:10 PM #17
I can't I don't even know where to begin. So I will be sitting back and watching with you. My mind actually short circuited and went completly blank after reading the post and seeing the company name.. I have no words or thoughts that I can use after 6th position that can accurately convey how ridiculous and insane that is
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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02-12-2016, 01:14 PM #18
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02-12-2016, 01:16 PM #19John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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02-12-2016, 01:21 PM #20
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Please find out who he is factoring with.
Thanks, Bob
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02-12-2016, 02:33 PM #21
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
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02-12-2016, 02:50 PM #22
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
VFG is absolutely correct.
Perhaps the kindest suggestion you could make is to convince your client to sit down with a business litigation lawyer and look at other options. I have no doubt that he's on the way out of business and is going to take the existing MCA lenders with them.
The factor should come out just fine.
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02-12-2016, 03:06 PM #23
- Join Date
- May 2015
- Location
- NYC
- Posts
- 197
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02-12-2016, 03:39 PM #24
- Join Date
- Jan 2016
- Posts
- 435
This guy needs to pay a few things down, not take on any additional positions
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02-12-2016, 05:16 PM #25
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
Consolidation
Worst case scenario, between the factor and the advances are eating somewhere in the neighborhood of 17% of the company's margins. The average staffing company operates with margins anywhere between 20-30%.
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