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05-05-2016, 04:36 PM #1
- Join Date
- Nov 2015
- Posts
- 12
weekly payback, with a no/low net buyout of 1st position
Hi, I have a client that is about 1/3 paid down on his first and only advance. Wants to refi into a weekly payback. He falls shy of a 50% net, and doesn't really want/need all that additional capital anyway. Balance on the 1st is well under $40K.
So I am seeking a first position deal, 12+ months, with maybe a 20/30% or lower net to the merchant with a weekly payment.
I understand more details are needed to underwrite the deal, yet I'm looking for a direct lender that will facilitate this type of transaction should the company meet all their other underwriting requirements. Thoughts DF community?
Thanks
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