Results 1 to 14 of 14
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05-19-2016, 03:45 PM #1
- Join Date
- Dec 2015
- Posts
- 16
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.
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05-19-2016, 04:02 PM #2
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
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05-19-2016, 04:06 PM #3
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,499
We can factor or do an asset based line.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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05-19-2016, 04:54 PM #4
- Join Date
- May 2015
- Location
- NYC
- Posts
- 197
Is the company based out of California by any chance?
Tommy Stein
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05-19-2016, 04:55 PM #5
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
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
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05-19-2016, 08:32 PM #6
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
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
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05-19-2016, 09:32 PM #7
- Join Date
- Oct 2014
- Posts
- 257
Funders Only: LOC Needed- Buyout 2 Outstanding Advances. $1M/Mo. Gross
Factor that bro. Residuals can be decent
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05-19-2016, 10:04 PM #8
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
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.
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05-20-2016, 07:36 AM #9
- Join Date
- Jun 2015
- Posts
- 3,325
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
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05-20-2016, 07:38 AM #10
- Join Date
- Jun 2015
- Posts
- 3,325
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05-23-2016, 04:41 PM #11
- Join Date
- Apr 2015
- Posts
- 31
Yes.
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05-23-2016, 04:42 PM #12
- Join Date
- Apr 2015
- Posts
- 31
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05-23-2016, 05:06 PM #13
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
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..
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05-26-2016, 10:32 AM #14
- Join Date
- Apr 2015
- Posts
- 159
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