[AlexSMF]

This is an LLC and has been in biz for 5 years. Generating $150k/mo most months.. jan and feb only $80K/mo. They owe IOU $54K, Strategic $64K and Kings $26K.. for a total of $144K. Would be fine to leave IOU in place and payoff other two, she needs to net $35K for inventory. Bank statements are stellar, no nsf activity. 90% of revenue is cc's, which is not leveraged. All of the above are daily pulls. Credit is fine.. nothing real bad, just low score (550) due to inquiries and debt. Current daily pull totals $1346.

Need a direct lender that can help with this.

Thanks.

My suggestion is submit this to On Deck and put that she owes 120,000. If they give her an approval for 250,000 then have her pay down one of the advances by 20k out of pocket and then have On Deck fund it for the 250,000. Only questionable item here would possibly be the credit score. I know On Deck typically does not like to fund with below 600 score if they are buying out multiple positions. Other than that, you can try Quarterspot and see if they would buy out Strategic and Kings and go into 2nd position. If you want to take her out of the MCA products all together then see if you can possibly obtain a term monthly payment loan for her through a guy like Richard Gerard. I personally would not take this to WBL as the last thing you want is to pretty much give your merchant a 45% daily payment mortgage.

[SBF]

My suggestion is submit this to On Deck and put that she owes 120,000. If they give her an approval for 250,000 then have her pay down one of the advances by 20k out of pocket and then have On Deck fund it for the 250,000. Only questionable item here would possibly be the credit score. I know On Deck typically does not like to fund with below 600 score if they are buying out multiple positions. Other than that, you can try Quarterspot and see if they would buy out Strategic and Kings and go into 2nd position. If you want to take her out of the MCA products all together then see if you can possibly obtain a term monthly payment loan for her through a guy like Richard Gerard. I personally would not take this to WBL as the last thing you want is to pretty much give your merchant a 45% daily payment mortgage.

Interesting idea with OD.. I'll give it go.. thank you.