[TheChoice]

Looking for a financier that wants to make a good amount of money by buying out a second position ACH Deal for a gentleman in the food service industry. He has an excellent avg. daily balance, 160k+ in monthly deposits, looking for 100k , excellent payment history, 48k balance, 9 month deal wanted with reasonable factor rate, 600 + Fico score. Serious Inquiries only, direct lenders only. Thank you.

[nrh1lp]

What's the catch?

[TheChoice]

Most people want to give another position rather than assume the second, my client doesnt want another payment

[nrh1lp]

I am aware a lot of people like to stack, but the standard "net 50%" for a buyout should be simple to handle...even with the food service/restaurant industry having notoriously low margins I am wondering why you are having a problem placing this. Have you tried anywhere and been declined? Like I said, what's the catch.

[J.Celifarco]

I am aware a lot of people like to stack, but the standard "net 50%" for a buyout should be simple to handle...even with the food service/restaurant industry having notoriously low margins I am wondering why you are having a problem placing this. Have you tried anywhere and been declined? Like I said, what's the catch.

The 48k sounds like that is the balance on the second position. The question you want to ask is what is the balance on the first position Probably owes another 100k or more on that. There sir is the catch if I had to guess

[TheChoice]

Bingo. Was that not made clear?

[nrh1lp]

Bingo. Was that not made clear?

I misread it

[nrh1lp]

^ ahh did not read that the second pos was 48k, I though that was the 1st and he did not want a second. makes sense now, still quite a few places you could send this to

[nrh1lp]

Best bet here is to go after a term loan (assuming the merchant qualifies) buy out both positions and put the merchant into a monthly payment

[gerayin]

Life Capital specializes in this.

German@mylifecapital.com

[dpFund]

When you say "food service industry", are you talking about an individual restaurant?

As a direct lender and consolidator with monthly payments (not MCA) that would be my first question. About the only type of business I will not fund is an individual restaurant (not to worry, lots of people love them).

If the client is in another area of the food service industry and/or owns numerous restaurant locations, I would be interested.

That stated, I would need to consolidate any/all positions and end up in first.

12-18 month term. Client can pay off any time after six months with no fees, penalties or interest (just paying off remaining principle).

$100k min financing, $2M max. Monthly payments.

It all revolves around profitability (not just deposits or average daily balances).

If you are interested, feel free to reach out.

Best,

Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com

[TheChoice]

Im sorry If I wasn't clear before, our client owns a restaurant. 1 business, for the past 10+ years. Looking to knock out the balance on the second, which is roughly 48k, and net 50k in working capital. He would like a term of 9+ plus months. Credit is in the low 600's. But has an excellent history of payments with MCAs. Any further questions, please PM ME.

[Chambo]

Im sorry If I wasn't clear before, our client owns a restaurant. 1 business, for the past 10+ years. Looking to knock out the balance on the second, which is roughly 48k, and net 50k in working capital. He would like a term of 9+ plus months. Credit is in the low 600's. But has an excellent history of payments with MCAs. Any further questions, please PM ME.

An excellent payment history.....and isn't getting renewed by 1st position lender because why?

[AlexSMF]

Im sorry If I wasn't clear before, our client owns a restaurant. 1 business, for the past 10+ years. Looking to knock out the balance on the second, which is roughly 48k, and net 50k in working capital. He would like a term of 9+ plus months. Credit is in the low 600's. But has an excellent history of payments with MCAs. Any further questions, please PM ME.

This is an IOU or a Quarterspot deal. They both buy out 2nd's, leave the 1st in place, and go out to 12 months on 2nd positions.

[MikeGreen-Quarterspot]

This is an IOU or a Quarterspot deal. They both buy out 2nd's, leave the 1st in place, and go out to 12 months on 2nd positions.

Hi all,

QuarterSpot continues to do 2nd positions when the model approves. We will do second positions with the same lengths of 9, 12, and 18 months and to our full amount of $150k. Also, we will buy out 2nd positions or 1st and 2nd positions with a 20% net loan proceeds policy now. This was recently lowered from 45%.

If you have further questions you can email partners@quarterspot.com in regard to our positions policies or any other item.

Thanks
Mike

Michael Green
Executive Vice President
Business Development & Sales
Direct: (917) 924-2202

Web: www.quarterspot.com

[Zach]

I believe Quarterspot buys out 2nds.

[dailyPLUNDR]

Quarterspot is first position only, they'll buyout up to 2 positions. Merchant must net 45% after buyout and QS maxes out at 150k, so I don't see that being a good fit. Credibly just launched a new "Business Expansion Loan", similar stipulations as QS, however they can fund up to 250k, so merchant may be able to net the 45k on top. I believe that will be your best option. It's also a simple interest model going out to 24 months, so overall probably a superior product to another advance.

[golf2014]

Think credibly wants credit 650 plus

[DM1234]

QuarterSpot continues to do 2nd positions when their risk model approves. Per an email sent out last week, merchant must now net 20% after buyout.

[gerayin]

Once again

Life Capital Specializes in Consolidating 2nds and 3rds.

We will be find with the merchant netting under 50% as long as he does enough deposits to get approved decently high enough.

[BSCI 504]

German
I sent you an email but it bounced back...send me one support@bscillc.com
Jay
832 942 1938
thanks