[ksmo1309]

Company has a big contract for 10 million coming up in a few months. They currently need 1-2 million until end of September. Monthly sales around 3 million. Great credit (700+) willing to personal guarantee. They are looking for single digit rates. They can do short or long term depending on the rate and if the deal can get done quickly. Know of any lenders who can do this type of deal?

[omegafund]

I dont think you will get single digit rates. even the ABL are tough to get single digits.
If he had real estate as collateral might work

[BW Capital Solutions]

I have a few sources that would scoop that deal up. I'm not a direct lender...just a lowly broker. But if you need help placing this deal please feel free to reach out.

[bdshaw]

Ksmo, with the proper financial statements, debt structure and collateral I should be able to facillitate this deal.
Bob Shaw
Advance Credit Funding Corporation
rshaw@advancecredit.com
734-929-3800

[bdshaw]

Friends, if the meat and potatoes are there single rates will not be a problem.
Bob

[RichardGerard]

Obvious question that hasn't been asked or answered: Is there any other debt on the balance sheet? If they have Senior Debt finding subordinating debt in the single digits WILL be a problem.

A firm doing $3M per month without any debt at all is rare.

If it is completely clean- I agree with my esteemed colleagues: Definitely do-able. If they are seeking a second (which is what they are likely looking for) I think you will have to alert them that the rates will be higher because the risk to the Lender is greater.

[ksmo1309]

Well customer wants to move quick on this. Willing to pay higher rates if the deal can get done in 3-4 days. Who could i possibly send this to that can do up to 2 million paying rates in the teens possibly low 20% I know the single digit rates are probably going to take awhile to get approved.

[Zach]

There isn't anyone who can fund that amount in a few days unfortunately. 5-10 business days is doable... Anyone telling you less is probably lying.

[RichardGerard]

Zach is right.. People need to Underwrite the File and verify the data.. For that type of investment- and the desired interest rate- figure 10 business days minimum

[Kevin Henry-Seacoast]

Company has a big contract for 10 million coming up in a few months. They currently need 1-2 million until end of September. Monthly sales around 3 million. Great credit (700+) willing to personal guarantee. They are looking for single digit rates. They can do short or long term depending on the rate and if the deal can get done quickly. Know of any lenders who can do this type of deal?

KSMO,

Monthly sales of around $3mil means they probably have around $4mil to $4.5mil of AR outstanding. If the end debtors are credit worthy and depending on industry we should be able to provide a $5mil ABL structure that will be in high single digits. If the balance sheet has some issues that may need to factor for a while. With this size they should not be paying more than 12-15% on a factoring deal with us. Either way it would take about 25-30 days to close a deal with us. We can move faster if the client puts their foot on the gas.
The size and rate are not a problem for us.....

Best,

Kevin

[RichardGerard]

KSMO,

If I knew whether or not there was Senior Debt I would have suggested contacting Kevin. Based on the lack of info and desire for fast capital I'm surmising that they have a 1st position in place and need ancillary capital.

Good luck..

[Kevin Henry-Seacoast]

KSMO,

If I knew whether or not there was Senior Debt I would have suggested contacting Kevin. Based on the lack of info and desire for fast capital I'm surmising that they have a 1st position in place and need ancillary capital.

Good luck..

Um...Hello??? Is this thing on???

[B2csp]

Well customer wants to move quick on this. Willing to pay higher rates if the deal can get done in 3-4 days. Who could i possibly send this to that can do up to 2 million paying rates in the teens possibly low 20% I know the single digit rates are probably going to take awhile to get approved.

Im a little late to the party, but for future reference I am able to get you a short term in that amount. As long as everything is right. if you have any questions for the future
give me a call.

Boris Mendes
O: 786) 655-8268

[Davincinc]

Boris, Name of company and website please? Are you a lender or broker?

Thank you

Steven Jones
Davincinc.com
210-290-4102

"Making a better Tomorrow, Today!"