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05-16-2016, 03:51 PM #1
- Join Date
- Sep 2014
- Posts
- 10
Used Auto Dealership in CA $1 Million Monthly Revenue
I have a used auto dealership client in CA that I have been working with for over a year now. I was able to get them two rounds of funding from the same lender with 6 month terms.
Most recently 105k @ 1.2 that paid me 12 points. The merchant has perfect payment history with the lender, but unfortunately they will not renew because they are no longer working with used auto dealerships.
Merchant's gross revenue is about 1 Million a month, ending balances are always 50k+. They are interested in any offer over 100k.
I know this is always a tough industry to get funded. I also need a comparable rate at 6 months, I'm not expecting to make 12 points!
Please PM me if you can get this done.
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05-16-2016, 03:57 PM #2
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Hi OSF-
I am a direct funder (though Not MCA). Monthly payment. If the deal worked and we funded I would have to consolidate any existing MCA balances. We typically have 12-18 month terms but if the client pays off in six months there are no fees, penalties or interest so the rate ends up being about a 1.15
Feel free to reach out if you would like to discuss.
Best,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
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05-16-2016, 04:06 PM #3
- Join Date
- Jul 2014
- Posts
- 1,746
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05-16-2016, 04:21 PM #4
- Join Date
- Sep 2014
- Posts
- 10
Yeah! I know, it was a great deal for me and the merchant! I got the 1.08 buy rate on the renewal after the merchant had already showed perfect payment history.
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05-16-2016, 04:24 PM #5
- Join Date
- Jul 2014
- Posts
- 1,746
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05-16-2016, 04:08 PM #6
- Join Date
- Feb 2016
- Posts
- 3
Hello,
My name is Leyla Lopez and I am a business development manager with Everest Business Funding. Everest is licensed in California and we do MCA's for used auto dealerships up to 50K. Please contact me directly:
Email: leyla.lopez@everestbusinessfunding.com
Best regards,
LEYLA M. LOPEZ
ISO RELATIONSHIP MANAGER - EVEREST BUSINESS FUNDING
786-838-5570
WWW.EVERESTBUSINESSFUNDING.COM
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05-16-2016, 04:25 PM #7
Used Auto Dealership in CA $1 Million Monthly Revenue
That is the lowest rate I've ever heard of for an auto dealer. No wonder the lender cleaned that part of their portfolio up lol
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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05-16-2016, 04:25 PM #8
Used Auto Dealership in CA $1 Million Monthly Revenue
1.08 and willing to pay 12 points at 1.20... Financial suicide for a lender
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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05-16-2016, 04:26 PM #9
Sent PM
Kevin Dinh
3131 Eastside Street, Suite 350
Houston, TX 77098
P: 713-322-9743
Email: kdinh@accordbf.com
Web: https://go.accordbf.com/DF-Partners/
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