Multiple Positions

Karen37a · 03-23-2016, 03:15 PM

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

**Mike Z** · 03-23-2016, 03:33 PM

Try Dan Page 303.938.8280

**VFG** · 03-23-2016, 03:38 PM

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!

**bdshaw** · 03-23-2016, 04:10 PM

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

**Hedley Lamarr** · 03-23-2016, 04:26 PM

Originally Posted by Karen37a

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

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,

Kevin

Karen37a · 03-23-2016, 06:17 PM

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/fees

**dpFund** · 03-23-2016, 06:50 PM

Originally Posted by Mike Z

Try Dan Page 303.938.8280

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

**RichardGerard** · 03-24-2016, 10:29 AM

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

**Dr.Fund** · 03-24-2016, 11:46 AM

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

**Zach** · 03-25-2016, 01:10 AM

If the client has real estate collateral, WBL can fund between $1.6 and $2MM

**Bank** · 04-02-2016, 02:21 AM

Looks like a simple consolidation ...

d.

Robert Menzel
Office - 516-299-8240
Cell - 631-235-3423
rmenzel@bizbrella.com
www.bizbrella.

**mbark** · 04-05-2016, 08:08 AM

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.

**Hedley Lamarr** · 04-05-2016, 08:25 AM

MBark,

Is your client currently factoring their receivables?

Best,

Kevin

**rick_clsfunding** · 04-05-2016, 08:26 AM

Originally Posted by mbark

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.

You might reach out to Carl with Breakout Capital or Dan Page. Carl does up to $100k and Dan does $100k plus. Both post on this forum & specialize in consolidations.

**Cfairbank** · 04-05-2016, 10:22 AM

Originally Posted by rick_clsfunding

You might reach out to Carl with Breakout Capital or Dan Page. Carl does up to $100k and Dan does $100k plus. Both post on this forum & specialize in consolidations.

Appreciate the mention, Rick. We'd be happy to take a look -- given industry, it may be a better fit for Dan (he seems to like trucking quite a bit more than we do). But feel free to reach out if you'd like us to review.

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