Results 1 to 12 of 12
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06-30-2016, 11:57 AM #1
- Join Date
- Apr 2013
- Posts
- 358
Need Prime Lender who can fund without paying off Kabbage...
Merchant has a $80K balance w/ Kabbage.
Wants $100K. Any lenders who will fund without paying off Kabbage?
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06-30-2016, 12:01 PM #2
- Join Date
- Jan 2016
- Posts
- 12
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Reuven Mirlis
President & CEO
RDM Capital Funding
777 Passaic Ave, Suite 375
Clifton, NJ 07012
Phone: 973-747-9846
Fax: 877-837-6080
Reuven@RDMCapitalFunding.com
www.RDMCapitalFunding.com
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06-30-2016, 12:05 PM #3
- Join Date
- Jun 2016
- Posts
- 4
At Breakout Capital we don't require lines of credit such as Kabbage to be paid off, though we will factor in the monthly payment to our debt service cost ratio (payment as a percent of the monthly revenue) where we usually target 15% or less (Absolute max is 20%). Few other questions: What State are they in, what industry and what's the monthly revenue?
Feel free to reach out to me directly to discuss the deal and our product further.
Dion Foxworth
Sales Associate
Breakout Capital Finance, LLC
6849 Old Dominion Drive :: Suite 360 :: McLean, VA 22101
O: 703.462.9456
dfoxworth@breakoutfinance.com
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06-30-2016, 12:18 PM #4
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- Jun 2015
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06-30-2016, 12:26 PM #5
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- Apr 2013
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06-30-2016, 12:34 PM #6
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- Jun 2015
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06-30-2016, 01:55 PM #7
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- Apr 2013
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06-30-2016, 02:05 PM #8
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- Jun 2015
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06-30-2016, 02:44 PM #9
What he is saying is what most of the A paper lender do.. For example if a company will accept a 15% gross holdback and the kabbage loan has a 5% gross holdback then the funding program will be based on a 10% gross.
Short simple version they will lower the funding amount to account for the payments to kabbage so the merchant can afford the loan and not have their cash flow squeezed.John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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06-30-2016, 02:47 PM #10
- Join Date
- Jun 2016
- Posts
- 4
I'll make a few assumptions here since we do not know the terms of the deal yet:
$100k a month in rev
$100k loan amount for 12 months at 1.25x
$5k a month cost for Kabbage LOC
Based on these assumptions, the payment back to Breakout would be about $481 a day or $10.4k a month. This represents about 10.4% of their monthly revenue. Though we are not taking out the Kabbage line, we need to include that payment into their total debt payments as a percent of revenue. At $5k a month, this increases the total debt payments as percent of revenue from 10.4% to 15.4%.
In this example, since the debt service cost (total debt payments as a % or monthly revenue) is about 15% we could consider the deal.
If you want to discuss this deal further, please email me or call me at 703-462-9456. Thanks.
Dion Foxworth
Sales Associate
Breakout Capital Finance, LLC
6849 Old Dominion Drive :: Suite 360 :: McLean, VA 22101
O: 703.462.9456
dfoxworth@breakoutfinance.com
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06-30-2016, 06:38 PM #11
- Join Date
- Dec 2013
- Posts
- 4,713
All the above are great options...
if all else fails Cresthill Capital will make an offer in 3 hours and fund hours after contracts are back-in! will pay double digit commissions and be very light on stips.....Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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