[AlexSMF]

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)

[Triton]

Dan Page
Funding Strategy Partners
Direct: (303) 938-8280
dan@fundingstrategypartners.com
www.fundingstrategypartners.com

[Kevin Henry-Seacoast]

We love staffing companies. Is he factoring his receivables?

[TheShitzuofMCA]

Dead in the water

[VFG]

We can provide a factoring facility and pay off their existing advances and save him a substantial amount.

[SCCNY]

Powerup

[Triton]

Powerup

Depends on what state.

[AlexSMF]

We love staffing companies. Is he factoring his receivables?

Its not staffing, its a recruitment firm. Yes he already is factoring receivables.

[AlexSMF]

Depends on what state.

He is located in Maryland.

[VFG]

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.

[TStein]

Sounds like a perfect 6th position to me. Send me a PM and lets get him funded!

[Funder Mark]

Sounds like a perfect 6th position to me. Send me a PM and lets get him funded!

Lets get it started, in here

Black Eyed Peas just started playing in my head

[J.Celifarco]

Sounds like a perfect 6th position to me. Send me a PM and lets get him funded!

seriously???

[AndyYSCISOdept]

seriously???

I hope not

[VFG]

Popcorn time!

[Funder Mark]

seriously???

Hope not, but probably is.

[J.Celifarco]

Lets get it started, in here

Black Eyed Peas just started playing in my head

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

[Chambo]

Its not staffing, its a recruitment firm. Yes he already is factoring receivables.

so 5 positions...AND factoring invoices?

[J.Celifarco]

so 5 positions...AND factoring invoices?

Chambo I didn't even see that good catch.. This deal is AWESOME!!!!!!!!!!! BEST DEAL EVER

[bdshaw]

Please find out who he is factoring with.
Thanks, Bob

[dpFund]

Dan Page
Funding Strategy Partners
Direct: (303) 938-8280
dan@fundingstrategypartners.com
www.fundingstrategypartners.com

Thanks Michael,

Alex called me. Not enough net income to consolidate.

Best,

Dan

[bdshaw]

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.

[TStein]

seriously???

Well 7th position, I will have to stack two positions but it will help the merchant long term

[nrh1lp]

This guy needs to pay a few things down, not take on any additional positions

[VFG]

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%.