Need a 3rd position 175k ASAP
Need a Funder or Vendor? START HERE

Results 1 to 7 of 7
  1. #1
    Senior Member Reputation points: 27404
    Join Date
    Dec 2015
    Location
    Texas
    Posts
    552

    Need a 3rd position 175k ASAP

    I have a client in Oregon with 2 positions equaling 300k from sfs and pearl 9 months left-

    "will consolidate but really needs the 175k before wanting/needing to do that
    Steven Jones
    www.davincinc.com
    Steven@davincinc.com
    PH: 210-290-4102
    "We can beat your offer!"

  2. #2
    Senior Member Reputation points: 5777
    Join Date
    Mar 2016
    Posts
    335

    What is the business
    ---
    Bill Doody
    Round Table Financial
    Business Development Officer
    bill@rtfinancialgroup.com
    C: (949) 444-3346

    www.rtfinancialgroup.com

  3. #3
    Senior Member Reputation points: 105
    Join Date
    Apr 2016
    Posts
    103

    Quote Originally Posted by Davincinc View Post
    I have a client in Oregon with 2 positions equaling 300k from sfs and pearl 9 months left-

    "will consolidate but really needs the 175k before wanting/needing to do that
    3rd positions are sometimes very challenging as funding will based on the creditworthiness of the borrower, available equity in property and ability to debt service the position(s). That being said, I would like to know how much the business generates annually. What available real estated the borrower has and associated debt. What is the borrower's FICO.

    Typically, we can lend up to $1M, but financing after $200K requires equity in Real Estate.

    Give me a call to discuss. We can fund in as little as 48-hours.

    Sean Najieb
    www.liftforward.com

    LiftForward, Inc.
    180 Maiden Lane, 10th Floor
    New York, NY 10038

    Sean@liftforward.com

    917.477.6534 (O)

    347.495.8088 (C)
    Last edited by snajieb; 10-12-2016 at 03:01 PM. Reason: spelling error

  4. #4
    Senior Member Reputation points: 30475 Zach's Avatar
    Join Date
    Nov 2013
    Posts
    1,732

    WBL can do long-term 3rd positions with the lowest 3rd position rates available in the MCA space.

    Ask if he has real estate - I'd love to structure something with you for the borrower.
    Zachary Ramirez – CEO
    Phone: 562-391-7099
    Email: zach@zacharyjosephramirez.com

    1661 N. Raymond Ave #265
    Anaheim CA 92801

  5. #5
    Senior Member Reputation points: 68233
    Join Date
    Dec 2014
    Location
    Quogue, NY
    Posts
    1,108

    The Monthly revenue and gross profit margin will need to be strong before anyone can even consider a net 500k facility- not to say that it can't be done. Is there any other debt on the balance sheet aside from the Advance debt?

    That the client went to Pearl instead of other more cost effective 2d position lenders tells me that there is likely some fur on this one.

    FYI- We just consolidated 1.2M in Advance debt this past week (5 positions) and have secured another 1.3M for the client ON TOP OF
    the 1.2. This was brought to us by one of the 'Dailyfunders' who has earned 50k on this one. Not a bad week.

    Feel free to touch base should you wish for assistance.

    Richard 516 510 3855

    Business Capital Consultants
    775 Park Avenue Suite 255
    Huntington, NY 11743

    rg@businesscapitalconsultants.com

  6. #6
    Pm'd you

  7. #7
    Senior Member Reputation points: 51665
    Join Date
    Mar 2016
    Posts
    657

    Quote Originally Posted by RichardGerard View Post
    That the client went to Pearl instead of other more cost effective 2d position lenders tells me that there is likely some fur on this one.
    Just to put it out there, Pearl offers 1.21 buy-rates on qualifying 2nd position deals going out as far as 10 Mo's. Nothing wrong with getting the merchant a competitive 2nd position funding

Similar Threads

  1. Consolidation asap
    By ryan1046 in forum Deal Bin
    Replies: 9
    Last Post: 08-20-2021, 08:44 AM
  2. the ASAP funder
    By RogueCaliISO in forum Promotions
    Replies: 1
    Last Post: 01-16-2016, 12:34 PM
  3. Replies: 5
    Last Post: 12-18-2015, 08:27 PM
  4. Need ASAP
    By thecloser in forum Deal Bin
    Replies: 9
    Last Post: 09-17-2015, 07:57 AM
  5. Replies: 6
    Last Post: 10-17-2014, 12:27 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Credibly secures third securitization
Lendica partners w/ EBizCharge
Pipe plans to fund $1B to SMBs


DIRECTORY