Results 1 to 13 of 13
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10-20-2016, 10:54 AM #1
- Join Date
- May 2016
- Posts
- 15
Need 2nd Position over $120K with MINIMUM 10-12 Month term (IOU and QS wont work)
Have a merchant with GREAT credit, sales annually at 2M, has Credit Line maxed with a 8% APR and a 1st Position with STRATEGIC who funded him $300K at 1.22 7 Months ago (12 Month Term).
Already have various offers at 100K - 110K with 6-7 Month terms and great pricing such at 1.25-1.30 but still need those extra 4-5 months. Any recommendations?
Negative Factors: Only 4-5 deposits per month / Volume jumps from 200K to 300K to 500K month to month/ Has a 250K Balance on 1st position.
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10-20-2016, 11:54 AM #2
- Join Date
- May 2016
- Posts
- 148
What's the SIC? 1st merchant funding or Evolution might entertain it.
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10-20-2016, 12:16 PM #3
- Join Date
- May 2016
- Posts
- 15
Wholesale Supplier with oversees orders
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10-20-2016, 12:34 PM #4
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
We do not stack but we do consolidate and provide cash-out.
If your client is interested in a discussion about paying off Strategic and providing cash out so that we end up in first position, I'd be happy to entertain it.
Monthly payment and the client can pre-pay anytime after six months with no fees, penalties or interest if they want to save a bunch of money. If he chooses to pay off early, his six month cost would be about 1.55.
Our primary driver is NET monthly income (net after all costs, including owner draw). If I read your description correctly, he owes $250k and is looking for $120k+ cash out. Assuming we are talking about $375k, his monthly payment would be $30,500 and the client would need to show net monthly income in the $50k range.
If you think it might be a fit, feel free to reach out.
Best,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
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10-20-2016, 12:48 PM #5
- Join Date
- Apr 2016
- Posts
- 103
Will will lend up to 10% Gross Annual Sales of the business with terms 6-36 months. Let me know if you would like to discuss. We can also decision and fund within 24-48 hours.
Sean
LiftForward
917.477.6534
sean@liftforward.com
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10-20-2016, 01:55 PM #6
- Join Date
- Sep 2014
- Posts
- 720
don't think you will see 10+ months w/ the low deposit volume and that kind of cash flow variance, but anything can happen. going to need a really aggressive underwriter to beat what you already have though.
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10-20-2016, 04:02 PM #7
WBL may be an option for this borrower if they have real estate collateral.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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10-20-2016, 04:49 PM #8
- Join Date
- Oct 2015
- Posts
- 7
Try, Trust Capital Funding (out of Boston)- I randomly get some weird deals done there- and they're pretty decent honest guys (so far)
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10-20-2016, 04:55 PM #9Eagle Funding Group
Phone: (646) 793-6809
Email: info@eaglefundinggroup.net
Web: www.eaglefundinggroup.net
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10-20-2016, 05:04 PM #10
- Join Date
- Jun 2015
- Posts
- 3,325
can funders on colonial platform fund on top of strategic ?
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10-20-2016, 05:25 PM #11
- Join Date
- May 2016
- Posts
- 148
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10-21-2016, 01:14 AM #12
Need 2nd Position over $120K with MINIMUM 10-12 Month term (IOU and QS wont work)
That's Bull****! Yes they can!
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10-22-2016, 12:49 AM #13
- Join Date
- Oct 2016
- Location
- NYC
- Posts
- 118
bbb
Last edited by ABC2016; 04-03-2017 at 10:20 AM.
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