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06-22-2016, 04:17 PM #1
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
Hi Alex,
Given the scenario, what would you think would be the best, most cost effective working capital solution for a Company such as this and what would be the cost of capital. A ballpark APR....
Best,
KevinKevin 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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06-22-2016, 04:22 PM #2
In this scenario, I would broker this to an ABL that would overlook the balance sheet being upside down (especially since the source of it is the shareholders loans). Probably a 12% best cast to 18% worst case. Leverage the receivable with no debt service. Actually, I know this guy, I think his name is Kevin Henry...company had something to do with water. Westcoast funding, eastcoast funding, no wait, seacoast funding, yes that's it. You should call Kevin, he may be able to help in this type of scenario.
Last edited by AlexSMF; 06-22-2016 at 04:25 PM.
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06-22-2016, 04:27 PM #3
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
AlexSMF,
The source of the negative equity is losses over the years of start-up. The start-up capital was injected as equity...no debt on the balance sheet. ABL or factoring would make good sense at least for the next twelve months or until the equity on the balance sheet turns positive. The rates might be a touch high depending on who you take it to....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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