[BTI]

In consideration of a Food and Beverage company File, we are looking to obtain funding of $250K to $400k.

FICO 650+

No tax liens, pass due, good credit

Balance is $100K with Deal Struck

Sales are $450+ per month.

Loanme is unsecured at $65K

There have been a number of inquiries recently, but not too many

The company has been in business as a food and beverage distributor for over 20 years and does business with some key accounts is. Some of their widely known clients are The Convention center, nearly all the hotels, and major restaurants, private schools and such.

Their sales declined during the 2008 recession, and since then they have steadily shifted their business to the food service industry. By doing this they have been able to nearly double their sales profit in the last 3 years.

Because of the nature of their business, being a food and beverage distributor, they have receivables at 45 to 90 days out.


Recently, they have managed to pay off all their debts, a small judgement, and have no tax related liabilities.

Additionally, they have obtained a factoring arrangement, which has and will continue to increase their cash flow. The goal is to attain a level where, like a retail business, they are paid next day. However, like every business they are in need of funding to continue expanding.

The bank statements for the last 6 months have been decent however, in the last 3 months, there have been various negative days. This has not affected any of the ACHs which were all covered by them and the bank:

May 3 negative days
June 9 negative days
July 6 negative days
Aug 2 negative days
Sept 2 negative days
Oct 15 negative days
Nov 14 negative days
Dec 5 negative Days
Jan MTD 1 negative day
Feb 2 negative days



It should also be noted that their bank Bank has an intraday running total which is not reflected by the end of day balances. As previously stated the bank does pay ACHs first, this information can be verified by reaching out to their banker.


Highlight Financial Information:

************************************************** ************************************************** ************************************************


monthly Totals
Date Gross receipts expenses
May-15 376,668.75 375,566.48
Jun-15 573,162.54 578,031.26
Jul-15 596,040.29 591,393.19
Aug-15 618,156.94 614,413.77
Sep-15 503,900.72 505,414.26
Oct-15 535,931.39 550,216.47
Nov-15 487,031.70 486,638.53
Dec-15 628,582.95 616,762.75


************************************************** ************************************************** ************************************************** *


Food and Beverage
Profit and Loss Comparison
2013 to 2015


P&L P&L Interim P&L Projected P&L
2013 2014 5/2015 to 9/2015 2015
$ 3,129,128.00 $ 3,907,833.00 $ 2,388,828.52 $ 6,187,065.87


650,457.00 784,550.00 432,262.89 $ 1,119,560.89



-40,758.00 174636 143,580.59 $ 371,873.73

[bdshaw]

Sent PM

[golf2014]

No chance

[Zach]

If the client has real estate collateral, WBL can provide up to $900K for this client for longer than the desired 12 months.

[Chambo]

May 3 negative days
June 9 negative days
July 6 negative days
Aug 2 negative days
Sept 2 negative days
Oct 15 negative days
Nov 14 negative days
Dec 5 negative Days
Jan MTD 1 negative day
Feb 2 negative days

Merchant isn't getting a 12 month offer with this rap sheet

[Michael Jagiello BGF]

May 3 negative days
June 9 negative days
July 6 negative days
Aug 2 negative days
Sept 2 negative days
Oct 15 negative days
Nov 14 negative days
Dec 5 negative Days
Jan MTD 1 negative day
Feb 2 negative days

Merchant isn't getting a 12 month offer with this rap sheet

Chambo's right, when a merchant that has healthy deposits like that and manages to perpetually overdraw their account, the flag raised is a bit on the red side.

[CDMpay]

Based on Preliminary Data, our company feels we can help you get funded through our network of lenders. We charge no upfront fees and will customize your funding to your needs. Please call one of our account specialists to take care of your needs. 310-569-8311.
Customer Service
CDMPay

[Chambo]

"Network of Lenders"?

[AlexSMF]

"Network of Lenders"?

LOL. You gotta give him credit for trying.

[Funder Mark]

LOL. You gotta give him credit for trying.

On this platform, with us? No, this guy gets no credit for 'trying'

[J.Celifarco]

On this platform, with us? No, this guy gets no credit for 'trying'

wow I thought I was quick to jump on people.. Agreed was not the best attempt actually pretty bad but I didn't think it was attack worthy

[Funder Mark]

wow I thought I was quick to jump on people.. Agreed was not the best attempt actually pretty bad but I didn't think it was attack worthy

I did not attack him, I was responding to the other guy who gave him 'effort points'

[AlexSMF]

I did not attack him, I was responding to the other guy who gave him 'effort points'

I will ring a bell next time to signify a post that is meant to be comical and not taken seriously.

[Michael I]

I will ring a bell next time to signify a post that is meant to be comical and not taken seriously.

No need to cater to the dumb

[Funder Mark]

No need to cater to the dumb

Just tired and oblivious to the subtle wit of the august members of the panel.

[bsmith]

I will ring a bell next time to signify a post that is meant to be comical and not taken seriously.

We could really use this, it would prevent the unraveling of many threads

[VFG]

My suggestion is that if they have a factor in place that you contact the factor and make sure they are ok with allowing a cash advance lender take a second position. Otherwise, the client may end up losing their factoring relationship as most factors will not subordinate to cash advance lenders.

[bdshaw]

I agree with VFG.
Many factoring deals lend themselves to adding advances by using an intercreditor agreement clarifying both parties security positions.
However, if you add an advance to a factoring client you will be collecting the factors collateral and they often will get nervous, tell their client they have defaulted and shut off the facility. No factoring yields no deposits and no collections for the advance company.
Bob

[Michael Jagiello BGF]

"Network of Lenders"?

I always liked "several in-house lenders" better lol