[TedFundy]

Okay first of all (I know this is an auto-decline for 99% of you but I need an outside the box idea) this client has cashflow issues. But they are receivable rich. Here are the facts:

-60k balance on an MCA
-MCA filed a UCC due to default
-I want to fund their A/R (90k+) but cannot with the UCC in place
-NSF's all over the board
-30-40k per month in deposits

However, we just need someone to advance ~70k to payoff CAN to terminate their UCC, we fund their receivables within a few days and get their cash flow back so they can make payments on new MCA or completely pay it off.

Am I dreaming or is there a direction someone can point me in? Thanks.

[bdshaw]

What are the specifics of the default and how have they resolved the problem?
Why are their receivables out so long?
Bob

[TedFundy]

Good question, Bob. The MCA was a 90,000 advance and from earlier this year. It defaulted in March. Currently, it is in default mode and the MCA cannot collect due to NSF. So the MCA company is doing whatever they do in this situation.

As for the A/R, the receivables are commercial paper that just happens to pay in 60+. His customers are one notch below an 5A1 credit rating. They are stuck in a terrible spot. Really nice guy with a half decent company but this MCA has him by the short and curlies.

I realize 99% of you are brokers with parameters to meet so this is a shot in the dark to direct lenders. Or if someone knows a lender that will do some out of the box lending, it will be worth your while.

[bdshaw]

Ted, based on what you are saying I think we can put it on our books.
Do you have time for a call Monday am?

[getitfunded]

Call Richard at Business Capital Consultants.

[TedFundy]

Ted, based on what you are saying I think we can put it on our books.
Do you have time for a call Monday am?

Sounds good. I will call you Monday. I have your number.

[TedFundy]

Call Richard at Business Capital Consultants.

Here?

http://www.businesscapitalconsultants.com/index.php

[bdshaw]

Great
Bob