It seems to me that they will not qualify for a MCA because they are in effect a start up. You have not mentioned any other assets indicating there is no significant equity in the existing inventory. We would be happy to factor their receivables, getting them over 500k. That may be the simplest answer but I don't think the best. The proceeds of the receivables need to be applied to day to day expenses and such. I suspect your client is having some difficulty financing a new truck but there are a few lenders that will gladly Finance the truck with more than 25% down, reguardless of credit issues. my suggestion is that they factor a small percentage of their receivables equal to the down payment plus the working capital they need, something less than 309k. If I can be of any help please give me a call.
Bob Shaw
734-929-3800
rshaw@delanceyfunding.com