Results 1 to 15 of 15
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03-23-2016, 03:15 PM #1Karen37aGuest
Multiple Positions
Hello,
I have a gentleman who has 5 loans various dollar amounts , balances etc. The Loans started off at 450-500k total, balances are down to 290k total.
2 loans loans will be paid off within the next 3-4 weeks organically, I can probably get him to pay them off himself if their was a benefit to it.
he makes 800-1 million a month, the income is coming thru a factoring loan at 17%
He wants to do a consolidation, doesn't ever want to have multiple positions again..( so he says, but i believe him )
Credit is 730 ...Anyone out there want to help me tackle this loan, even if its to just consolidate in 2 stages.
Direct Funders only thanks
Karen
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03-23-2016, 03:33 PM #2
- Join Date
- Sep 2015
- Posts
- 16
Try Dan Page 303.938.8280
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03-23-2016, 03:38 PM #3
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
Multiple Positions
Karen,
Is he looking to take out his existing factoring relationship as well. If the factor is going to remain in place, you may want to consult with them the fact that the client is looking to take out additional financing to see if they're willing to carve out their position. Otherwise they may end up without the factor if they take the advance.
For a company this size, I can improve their current factoring fee and depending on the industry, provide Purchase Order Finance/Production Finance as well to cover their complete cycle.
If this works for your client, happy to have the conversation.
Good luck!
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03-23-2016, 04:10 PM #4
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Multiple Positions
Hi Karen.
Perhaps we could have a little information such as what business are they in?
There is really no such thing as a factoring loan. Could you find out a few specifics such as the advance rate and discounts rate for the first 3o days?
I think you will find more specific comments with this additional information.
Bob
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03-23-2016, 04:26 PM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Hi Karen,
Depending on industry and customer mix......
We offer factoring and asset based lines of credit. We might be able to reduce their current factoring costs and if there is extra availability pay off the other instruments stacked on top of the factor. Please give me a ring at 561-623-1872.
Best,
KevinKevin 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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03-23-2016, 06:17 PM #6Karen37aGuest
Bd Shaw ...Factoring meaning " accounts receivable financing "" asset based lending"17% and also 5 mca loans
I really do not like divulging all details of a potential loan in public forum...a simple post or private message from someone on the possibility of doing it would be fine, then I can discuss further if someone is serious and it fits in their wheelhouse.
I am really looking at the 5 mca loans and their renewal dates and looking to take those in but for those that replied about the "factoring loan" aka accounts receivable financing I am sure he wouldn't mind getting information on a better factoring costs/feesLast edited by Karen37a; 03-23-2016 at 06:25 PM.
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03-23-2016, 06:50 PM #7
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Thank you Mike,
Karen - What you are asking for is what I do. I am a direct funder, and do a lot of consolidations.
12-18 month term, with early payoff available any time after six months (no fees, penalties or interest).
Monthly payments (no daily payments). $100k minimum funding ($2M max).
I can usually get payments down to about one third of what the client is paying right now, which is pretty exciting for them.
Not a problem standing behind a factor.
Please feel free to reach out by email or phone.
Thanks,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
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03-24-2016, 10:29 AM #8
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Karen,
Lots of good information being posted here. What I would be most interested in seeing is the Historical Financials and future projections. As the existing factoring company has Senior Debt, the sales estimates posted puts your client in the right range for Mezzanine Capital- assuming the Financial data supports it.
Mezz Cap is 'slower' money with interest rates typically in the high teens for 36 months plus (depending on the agreement). Most firms will take a second UCC, while others will use stock as collateral and leverage the management team in the event of a default.
Kevin, Bob, and Dan can all likely assist here... If the data supports it, our partners would likely be interested in working with them- or behind them...
Richard 516 510 3855
www.businesscapitalconsultants.com
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03-24-2016, 11:46 AM #9
- Join Date
- Mar 2016
- Posts
- 5
Hello Karen,
I just helped a guy in the same similar situation. He was doing around 400 K per month, and I just gave him 250 k. if this deal does not to find a home please call me directly 8860 - 471 - 4132.
Sherman Batchelor
King Capital Funding LLC
sbatchelor@kingcapitalfunding.com
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03-25-2016, 01:10 AM #10
Multiple Positions
If the client has real estate collateral, WBL can fund between $1.6 and $2MM
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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04-02-2016, 02:21 AM #11
- Join Date
- Dec 2014
- Posts
- 114
Looks like a simple consolidation ...
d.
Robert Menzel
Office - 516-299-8240
Cell - 631-235-3423
rmenzel@bizbrella.com
www.bizbrella.
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04-05-2016, 08:08 AM #12
- Join Date
- Mar 2016
- Posts
- 6
Consolidation for a trucking company
Have a merchant that owns a trucking company. Currently has 2 balances (a weekly payment of 2K and a daily payment of $330). Current combined balance on the two positions is 66K. He is looking to consolidate and net about 50K on top. So total consolidation should be for about 115-120K. Does about 130K a month in rev. Fico in the mid 600s. Looking for a direct lender that is interested in this file.
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04-05-2016, 08:25 AM #13
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
MBark,
Is your client currently factoring their receivables?
Best,
KevinKevin 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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04-05-2016, 08:26 AM #14
- Join Date
- May 2015
- Location
- NC
- Posts
- 208
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04-05-2016, 10:22 AM #15
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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