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  1. #1

    Funders Only: LOC Needed- Buyout 2 Outstanding Advances. $1M/Mo. Gross

    Client is looking for a line of credit. Client has two advances at this time. A 18 month OnDeck Deal and a 15 month Everest deal. Looking to buy both of these out with a line of credit. Client does approximately $1m/ month in the apparel industry. Have all necessary documents. Direct funders only. Funding Circle has expressed interest but shopping for best deal.

  2. #2
    Senior Member Reputation points: 30475 Zach's Avatar
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    Fundingcircle I believe goes up to $500K.

    There isn't anyone outside of a traditional bank that will give them a BLOC, however WBL can give them a multiple-year term at comparable rates to their On Deck deal. We also lend up to 2X their monthly revenues, which in this case would be approximately a $2MM loan size.
    Zachary Ramirez – CEO
    Phone: 562-391-7099
    Email: zach@zacharyjosephramirez.com

    1661 N. Raymond Ave #265
    Anaheim CA 92801

  3. #3
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    We can factor or do an asset based line.
    Hedley Lamarr......That's Hedley

  4. #4
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    Is the company based out of California by any chance?
    Tommy Stein

  5. #5
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    We can consolidate the OnDeck and Everest (I am a direct funder) without collateral. It is not a traditional line of credit, but a lot of our clients treat us like a line of credit, funding with us multiple times. Max funding amount is $2M.

    Feel free to reach out if you would like to discuss.

    Best,

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

  6. #6
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    Funders Only: LOC Needed- Buyout 2 Outstanding Advances. $1M/Mo. Gross

    Holdinghand, are you looking for a revolving line of credit? If so, secured by what asset?
    Bob

  7. #7
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    Funders Only: LOC Needed- Buyout 2 Outstanding Advances. $1M/Mo. Gross

    Factor that bro. Residuals can be decent

  8. #8
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    Funders Only: LOC Needed- Buyout 2 Outstanding Advances. $1M/Mo. Gross

    Ansolutely! Factoring is very common in the apparel industry and if the client has an interest we can advance 85% of their outstanding receivables and provide credit protection against debtor insolvency.

  9. #9
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    Everest does not do 15 months and on seconds caps at 8 month . If the math works out to a 15 month that means he is in a payment plan and technically in default

  10. #10
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    Quote Originally Posted by Zach View Post
    Fundingcircle I believe goes up to $500K.

    There isn't anyone outside of a traditional bank that will give them a BLOC, however WBL can give them a multiple-year term at comparable rates to their On Deck deal. We also lend up to 2X their monthly revenues, which in this case would be approximately a $2MM loan size.
    Funding circle does cap at 500k , also although they claim they pay off other lenders without net , I have never seen it . Anyone on here ever see it ?

  11. #11

  12. #12
    Quote Originally Posted by Michael I View Post
    Funding circle does cap at 500k , also although they claim they pay off other lenders without net , I have never seen it . Anyone on here ever see it ?
    Yes FC does.

  13. #13
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    Needs an ABL (interest only- not Principal and interest)... Several folks on this thread can show you how to earn more on that- than what you would with FC- as the line will likely be twice that of FC's max..

  14. #14
    Senior Member Reputation points: 8723 helpinghand's Avatar
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    Quote Originally Posted by Michael I View Post
    Everest does not do 15 months and on seconds caps at 8 month . If the math works out to a 15 month that means he is in a payment plan and technically in default
    Yes they do. We put this deal together.

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