2nd position 250K- 1st position Direct Capital

**ksmo1309** · 03-14-2016, 06:58 PM

I have a manufacturing company doing around 10Mil AGS looking for around 200-250k. They currently have an advance for 100k with direct capital. They do not want to pay it off, they are looking for a second position with very competitive rates. They are located in California, what lenders could do that amount with very competitive rates? Credit is good & banks are great.

**Triton** · 03-14-2016, 07:10 PM

Quarterspot may be your best bet.

**Zach** · 03-14-2016, 07:35 PM

WBL can do a second position with some of the lowest rates in the space.

**MCABroker** · 03-14-2016, 09:16 PM

You talking about your 1.60s collateralized rates??? I highly doubt even your 3 month buyrate can get close to direct capitals terms.

**Zach** · 03-14-2016, 09:24 PM

Our Gold pricing is comparable to On Deck or CAN's pricing, and our Gold program will do 2nd position for a much longer term than any of our competitors.

If your client qualified for a high rate with us, he would have qualified for a high rate, a smaller loan amount, and a shorter term elsewhere.

**anydealfunded** · 03-15-2016, 12:02 AM

If direct capital is a lease I can treat this like a first....and I mean pay like it's a first.

**isaacdstern** · 03-15-2016, 03:06 AM

Yellowstone can fund it fast

800-955-2411

**Kevin Henry-Seacoast** · 03-15-2016, 08:25 AM

Originally Posted by ksmo1309

I have a manufacturing company doing around 10Mil AGS looking for around 200-250k. They currently have an advance for 100k with direct capital. They do not want to pay it off, they are looking for a second position with very competitive rates. They are located in California, what lenders could do that amount with very competitive rates? Credit is good & banks are great.

Hi-Are they currently financing their accounts receivables, inventory, and equipment? If not, we might be able to provide a more cost effective and predictable facility for your client.

**brokerCompany** · 03-15-2016, 11:59 AM

IOU did a 2nd for us behind Direct. But you probably need a license if in CA

**ks0807** · 03-15-2016, 12:05 PM

I don't think quarter spot does CA deals & IOU won't go up to 200-250k the client is seeking.

**Michael I** · 03-15-2016, 12:07 PM

Originally Posted by ks0807

I don't think quarter spot does CA deals & IOU won't go up to 200-250k the client is seeking.

quarter spot only goes up to 150k and fund ca if you have a ca license

**nrh1lp** · 03-15-2016, 12:08 PM

I believe QS can work CA files as of march 7, but you are correct their max is 150K and they may not do it as a 2nd position

**TheShitzuofMCA** · 03-15-2016, 12:16 PM

Nextwave Funding up to $500k and we fund California.

Thread Tools

Display