[sigmundpannu]

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?

[MikeC524]

What kind of terms are they looking for a 2nd position?

Mike@Samsonfunding.com
347-492-1801

[Jstarr]

Yellow stone...

[Ptabbi]

Sent you a PM. I can get this done. Look forward to hearing from you.

[bdshaw]

Do they have any secured debt Sigmund?
If not, you may want to look at an ABL or factoring relationship.
Bob

[bdshaw]

Sorry, in our case the tax lien has no negative effect.
Bob

[anydealfunded]

Contact our BDO Allen. Allen@trustcapitalfunding.com

We can do a 6-8 month deal on this.

[malan@connect2cash.net]

Very easy to do. We can get done even without a payment plan.

Mark alan
Commect2Cash
516-244-8345

[Kevin Henry-Seacoast]

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 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?

Sigmund,

Do they currently have a LOC or are they factoring? Are the receivables and inventory unencumbered? If the AR and Inventory is clear, we might be able to set up a factoring facility for them. kevin.henry@SeacoastBF.com

[sigmundpannu]

Thanks for the responses. They do currently have a factoring facility in place.

[AdvanceFund]

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 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?

We don't turn down files for being on a tax lien payment plan.

[Anthony@torro]

PM sent

[Kevin Henry-Seacoast]

Thanks for the responses. They do currently have a factoring facility in place.

Sigmund,

Perhaps we can offer a larger, more flexible, and cost effective factoring facility. Since we have a low cost of funds, we are able to beat rates of most factors.

Best,

Kevin

[Alleon Healthcare]

Does the client have AR due from government or commercial third party health insurance carriers? if so, give me a call.