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07-06-2016, 04:20 PM #1
- Join Date
- Feb 2015
- Posts
- 51
Consolidation
I have a client who imports and sells electronics, specifically dash cams. He has averaged $121k per month for the last four months. He has four advances out totaling $81k. He would like to consolidate into one and pull some more cash out. His FICO's are as follows:
Experian 680
Trans 740
Equifax 740
Direct Funders Only!!! No brokers!!!
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07-06-2016, 04:55 PM #2
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07-06-2016, 05:01 PM #3
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07-06-2016, 05:08 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
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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07-06-2016, 07:51 PM #5
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Consolidation
I agree with the comment about receivables and would add we are in a position to help them with their overseas purchases separate from and in addition to
financing the receivables.
Bob Shaw
rshaw@advancecredit.com
734-929-3800
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07-07-2016, 12:03 PM #6
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Alex, I am a direct funder and do a lot of consolidations. On average, I seem to be getting payments down to about one-third of what the client is currently paying. While this is a small file for us (minimum $100k with max funding amount of $2MM), I am happy to see if it works.
Some of the highlights:
Monthly payment
12-18 month term, starting to do 30 month terms as well (Brand new!)
Client can pay off any time after six months with no fees, penalties or interest (just pay remaining principle and they are out)
Interest is not front loaded, so if client pays off in six months it is one half the cost of twelve months
We fund in all fifty states
Hardly any restricted industries (don't like individual restaurants or sole proprietors where entire business is dependent upon one person)
The foremost driver of approval is NET income. There needs to be enough net income (after all expenses, including owner draw) to comfortably support the monthly debt service.
We do not stack on anyone...so either we pay off all MCA or none of them. We are also very militant about not allowing our clients to stack on us.
Hope this helps. Please feel free to reach out for more info.
Best,
Dan Page
dan@fundingstrategypartners.com
Direct: (303) 938-8280
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07-16-2016, 04:18 PM #7
- Join Date
- Apr 2015
- Posts
- 20
I can put him into are hedge fund program rate from 10 to 18% 3 to 5 years on a monthly payment give me a call 843-796-4039
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