[mikem]

Trucking & Excavation
20+ Years TIB
250K + Revenue
Didn't pull credit-Client says it's at 625
No negs

Want to consolidate roughly 190K.
Currently paying $1555

Who could give a nice long term and lower the daily?

[Zach]

Any real estate?

[nrh1lp]

How does the balance sheet look

[dpFund]

Hi Mike,

I am a direct funder and consolidate a lot of trucking companies. I'm not a MCA lender so I do things differently. The primary driver for pre-qualification is Net income. Your client would need to have net monthly income of at least $24k to qualify.

Your client is currently paying north of $32k monthly right now. If we consolidated $190k his payment would be less than half of what it is right now.

Please reach out if you would like to discuss.

Best,

Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com

[bdshaw]

If there is no senior debt they would do better with a LOC.
Bob Shaw

[RichardGerard]

Mikem,

A few of my esteemed colleagues alluded to needing more information before being able to make a recommendation. Even the 'Lenders' on this Blog that specialize in consolidations (which look A LOT like advances when considering pricing and term), have criteria they follow.

The FICO score at 625 is helpful, however: is/was the client profitable YTD and on its last Tax Return?

Is there a factoring firm with a UCC on the receivables in addition to the 190k in MCA debt?

Why are they taking on more debt? Is it to facilitate growth (new contracts etc.)? Have the sales increased or decreased?

Consolidating an Advance with another advance-may not be the right solution. That being said the folks here that offer those products have instances where they are definitely helpful- they're just not the empirical solution to stacked clients.