[thecloser]

Have a merchant who is doing around 2.8 million a month. Has 23 locations all money is going to one account. Has 3 advances totaling 946,000. Who can help with this? ASAP. Is a cellphone company. Thanks

[Zach]

If he has real estate collateral I'd love to take a look at this one

[NickHubbard]

Sent you a PM

[AlexSMF]

Have a merchant who is doing around 2.8 million a month. Has 23 locations all money is going to one account. Has 3 advances totaling 946,000. Who can help with this? ASAP. Is a cellphone company. Thanks

Michael,

If you already found a home for this then great, if not, then give me a call, I may be able to help or at the very least, point you in the right direction. I can be reached at 888-581-8138

[bdshaw]

Have a merchant who is doing around 2.8 million a month. Has 23 locations all money is going to one account. Has 3 advances totaling 946,000. Who can help with this? ASAP. Is a cellphone company. Thanks

Not too long ago we helped a phone retailer who received periodic large monthly payments from the carrier they represented...not Verizon. The program worked well for the company and cleaned up their balance sheet to the point that they were able to get substantially less expensive advances in the future.

Now we can go one more step forward by funding the equivalent of invoices the day they are created, not waiting for the carrier to confirm the amount earned.
The bottom line is they can get their money up to 30 days faster.
The commission includes points each month of participation plus normal factor commissions.

Bob Shaw
Advance Credit Funding Corporation
721 Cornell Road
Ypsilanti, Michigan 48197
rshaw@advancecredit.com
734-929-3800

[CO1]

Is he looking for a consolidation or more money? An whom are the balances with? If you don't mind me asking

[thecloser]

Merchant is looking to consolidate 946k in current advances and net an additional 500k to 1 mil.

[RichardGerard]

Hey Michael... I'm intimately familiar with this deal and the Principal. Please feel free to reach me to discuss the situation- and the fact that the client TURNED DOWN a 3.5M facility because he didn't fully understand its structure.

The existing Senior Lender (who is on this Blog quite often) has learned that the client stacked behind his NON stack clause, and further took Mezzanine Debt for 400k during the approval process with another lender- and did not disclose that until pressed for information.

That he does not have store level accounting procedures in place, is NOT a US Citizen, and has demonstrated a cavalier approach to his agreements- makes this case interesting to say the least. I have contacted the Hedge Fund I am affiliated with and alerted them that he will likely try to circumvent me in the process- and they are prepared to have him circle back to me should he want to revisit the $3.5M facility.

best... Richard 516 510 3855