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11-20-2016, 09:39 AM #1Senior Member
Reputation points: 62986
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
Tax Lien on a payment plan
I have a medical device manufacturer. Been in business since 2008. Annual revenue $4.8MM. The negatives are:
1) 2 owners 50/50-one is a silent partner who will not be on the loan, and the other who did the current advance with ondeck has an IRS tax lien in a documented repayment plan the last 2 years with a balance of $1 million........apparently ODC missed it when they did their loan.
2) current ODC balance $160k paying $7,942 a week-not looking to refinance if we can get a 2nd position deal
3) No real estate
Average deposits last 4 months $439,353
Average ending daily balance $139,624
Average number of deposits are 23
Any recommendations?Last edited by sigmundpannu; 11-21-2016 at 10:38 AM.
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