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10-10-2016, 11:46 AM #1
California Construction Co
California Construction Co
Commercial Clients
They average 370k monthly profitable and last year taxes and current ytd
10 nsfs in Aug 5 in Sept
They need 250-300k 1st position
Not interested in factoring since they just got out of a factoring relationship.
Need 18month term
direct lender
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10-10-2016, 12:00 PM #2
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Good morning Broker Company,
I am a direct funder and we do offer an 18 month term. Monthly payments, too.
To qualify for $300k, the client would need to be showing NET MONTHLY income (after they pay all expenses, including themselves) of at least $38k (or $32k for $250k of funding). This is only about a 10% net margin, which is pretty typical in the construction industry.
If this is of interest, please feel free to reach out and discuss.
Best,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
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10-10-2016, 01:35 PM #3
- Join Date
- Mar 2016
- Posts
- 335
Many factor companies have a difficult time factoring construction receivables. However, this is what we do on a daily basis. If you would like us to have a convo with them to instill some trust and confidence, we would be happy. If not, good luck with Dan or another lender. I am sure you will find a home!
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Bill Doody
Round Table Financial
Business Development Officer
bill@rtfinancialgroup.com
C: (949) 444-3346
www.rtfinancialgroup.com
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10-10-2016, 01:41 PM #4
- Join Date
- Dec 2013
- Posts
- 4,713
We love CONSTRUCTION. UW's needs to decide on terms. you will know pretty quick.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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10-10-2016, 02:45 PM #5
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
Deal struck, NSF Can only be for one month like that in a 12 month period. I have had it waived and considered a seasonal dip....
LMK if you need help getting it approved. I have many resources for such issues.
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10-10-2016, 10:27 PM #6
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
We lend a percentage of each contract.. typically 25%, to help with initial expenses, until the borrower reaches certain stages in the contract to qualify for a draw. The terms are a weekly payment, over 8, 12, 16 or 20 weeks, depended on contract terms. Cost of funds is lower than any MCA or short term loan out there. Also, there is no limit to the number contracts we fund concurrently or in a staggered structure.. also, the payments can be staggered to assist in ease of payback until first draw is taken down. Our approach is to allow each construction project to finance each loan independent of each other. Also, providing up front funds allows the sub contractor to complete the job faster, instead of stringing out the resources, thereby increasing the margins.
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