Results 1 to 11 of 11
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03-26-2014, 12:35 PM #1
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 869
Merchant Looking for funding, wants delayed payback
I have a restaurant opening another location. They are looking for 100k. Gross sales are $1.087,000 a year, 77k a month in CC sales.
Pretty solid business. ODC had them an offer of 100k, 15 months turn at 252 payments of 543.
He wants to take the funds, build in the new restaurant then start paying. SO he is looking for a delay in payments or reduced amount for the first month.
Anyone out there doing something like this?
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03-26-2014, 03:37 PM #2
252 payments is only 12 months, BTW.
The delay in payments might be possible, but it depends on how much of a delay they are looking for. More than a month? Merchant is dreaming
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03-26-2014, 04:26 PM #3
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 869
^^so what do you think the max delay would be. I think arf was doing this but it was only a 2 week delay.
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03-28-2014, 11:51 AM #4
I've seen 60 days before
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03-28-2014, 12:36 PM #5
how gives 60 days before the first pull?
and, does ARF still give 2 weeks before they start collecting?
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03-28-2014, 12:49 PM #6
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
ARF has a 30 day no pay option but the term of the advance has to be 12+ months.
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03-28-2014, 01:03 PM #7
thats kind of awesome.... kudos to them...
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03-28-2014, 01:34 PM #8
I have received 60 days with TBB before
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03-28-2014, 01:55 PM #9
question... off topic... how do i earn my stripes here... "member" "sr. member" "veteran"...???
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03-28-2014, 05:49 PM #10
Noob: Less than 5 posts
Member: Minimum of 5 posts
Senior Member: Minimum of 100 posts
Sponsor: Advertiser on the site
Veteran: Bestowed upon manually by admins
Reputation Points: Awarded to users by clicking the blue thumbs up icon below their posts. Anyone can "add rep" to anyone else for a good post. We disabled negative rep. That would lead to nowhere good.
This was the way we organized it in 2012.
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03-28-2014, 10:29 PM #11
Merchant Looking for funding, wants delayed payback
thank you admin... you guys already know the kid is striving for that vet status
enjoy the weekend folks... recharge those batteries...
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