Results 1 to 21 of 21
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03-24-2016, 04:10 PM #1
- Join Date
- Feb 2015
- Location
- New York City
- Posts
- 44
Need a 2nd Position bought out long term
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.
Simple Choice Capital
Info@simplechoicecapital.com
www.SimpleChoiceCapital.com
(o)1-646-829-1999
(C) 1-347-733-3115
(f) 1-347-448-5414
"The Business owners Liaison to Finance"
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03-24-2016, 04:15 PM #2
- Join Date
- Jan 2016
- Posts
- 435
What's the catch?
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03-24-2016, 04:21 PM #3
- Join Date
- Feb 2015
- Location
- New York City
- Posts
- 44
Most people want to give another position rather than assume the second, my client doesnt want another payment
Simple Choice Capital
Info@simplechoicecapital.com
www.SimpleChoiceCapital.com
(o)1-646-829-1999
(C) 1-347-733-3115
(f) 1-347-448-5414
"The Business owners Liaison to Finance"
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03-24-2016, 04:25 PM #4
- Join Date
- Jan 2016
- Posts
- 435
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.
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03-24-2016, 04:42 PM #5John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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03-24-2016, 04:45 PM #6
- Join Date
- Feb 2015
- Location
- New York City
- Posts
- 44
Bingo. Was that not made clear?
Simple Choice Capital
Info@simplechoicecapital.com
www.SimpleChoiceCapital.com
(o)1-646-829-1999
(C) 1-347-733-3115
(f) 1-347-448-5414
"The Business owners Liaison to Finance"
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03-24-2016, 04:47 PM #7
- Join Date
- Jan 2016
- Posts
- 435
^ 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
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03-24-2016, 04:48 PM #8
- Join Date
- Jan 2016
- Posts
- 435
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03-24-2016, 04:52 PM #9
- Join Date
- Jan 2016
- Posts
- 435
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
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03-24-2016, 04:59 PM #10
- Join Date
- May 2014
- Posts
- 53
Life Capital specializes in this.
German@mylifecapital.com
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03-25-2016, 09:46 AM #11
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
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
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03-25-2016, 01:10 PM #12
- Join Date
- Feb 2015
- Location
- New York City
- Posts
- 44
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.
Last edited by TheChoice; 03-25-2016 at 01:13 PM.
Simple Choice Capital
Info@simplechoicecapital.com
www.SimpleChoiceCapital.com
(o)1-646-829-1999
(C) 1-347-733-3115
(f) 1-347-448-5414
"The Business owners Liaison to Finance"
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03-25-2016, 04:16 PM #13
I believe Quarterspot buys out 2nds.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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03-25-2016, 05:27 PM #14
- Join Date
- Sep 2015
- Posts
- 36
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.
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03-26-2016, 07:46 AM #15
- Join Date
- Apr 2014
- Posts
- 781
Think credibly wants credit 650 plus
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04-25-2016, 12:03 PM #16
- Join Date
- Jun 2014
- Posts
- 7
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.
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04-25-2016, 12:20 PM #17
- Join Date
- May 2014
- Posts
- 53
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.
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04-25-2016, 01:04 PM #18
- Join Date
- Jun 2014
- Location
- Houston Tx
- Posts
- 97
Need a 2nd Position bought out long term
German
I sent you an email but it bounced back...send me one support@bscillc.com
Jay
832 942 1938
thanks
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04-25-2016, 03:11 PM #19
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04-25-2016, 03:14 PM #20
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04-25-2016, 04:04 PM #21
- Join Date
- Oct 2014
- Location
- NYC
- Posts
- 35
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
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