[cjbreaux33]

Need a home for a file. Merchant averages 900K a month but has 7 open positions(restructured payments) and a tax lein from IRS with no payment plan currently in place. Merchant is looking to consolidate and move to a monthly. Any takers?

[dpFund]

With no payment plan in place on the tax lien I think it may be a deal killer for most.

[mcaguru]

Tax liens is something we can work with. Not sure about all your other requirements.

[RichardGerard]

As much as anything else: how much other debt is there on the balance sheet (is there senior debt in addition to advances)?

Are there any assets (Inventory, Receivables etc.)?

What was the EBITDA in 15?

How much is the Tax Lien?

Is the guarantors credit impaired?

Does the client have prospects for growth in 16 or is this just a bail out?

[Chambo]

Need a home for a file. Merchant averages 900K a month but has 7 open positions(restructured payments) and a tax lein from IRS with no payment plan currently in place. Merchant is looking to consolidate and move to a monthly. Any takers?

Just so we are clear.....

1) 900K a month in deposits
2) 7 open positions
3) those payments have been restructured
4) Tax Lien
5) no payment plan?

And this guy has the audacity to ask for more money ?

[Funder Mark]

Just so we are clear.....

1) 900K a month in deposits
2) 7 open positions
3) those payments have been restructured
4) Tax Lien
5) no payment plan?

And this guy has the audacity to ask for more money ?

The voice of sanity has spoken. I can be pretty aggressive, but this deal smells like plutonium.

[WhoisKingsley]

Merchant averages 900K a month but has 7 open positions(restructured payments) and a tax lein from IRS with no payment plan currently in place.

Well sh*t.

The irresponsibility of this situation is reflected in this sentence 3x. For a Business doing almost 900k in sales and not able to manage their finances says a lot. They took out a first position without consulting a professional about their options and got caught up- understandable. This happens a lot. But what confuses me is why didn't the company (generalizing the situation) use the advances to pay a financial consultant, pay off some advances, and pay someone to review their finances and assist with the IRS issues.

In a sense- I feel these suggestions could have been offered 7x already with their 7 positions but instead either the Merchant or the Broker got really greedy. Now, in a deep dark hole of restructured MCA payments (red flag), tax liens (double red flag), and the obvious 7 stacks of untrustworthy "Broker Hopping"- they want help?

Not blaming you poster- as you are just looking for an outlet for a messed up situation, but think of those who put money into this deal and didn't collect.

#itsallaboutthecollectionsbaby

[bdshaw]

Need a home for a file. Merchant averages 900K a month but has 7 open positions(restructured payments) and a tax lein from IRS with no payment plan currently in place. Merchant is looking to consolidate and move to a monthly. Any takers?

What is their business CJ?