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12-01-2016, 03:30 PM #1
- Join Date
- Feb 2015
- Location
- New York City
- Posts
- 44
Corporate Turnaround: High RISK LENDER
Hey Guys-
I have a quick question for the high risk lenders out there.....
Do any of you gentlemen fund companies who have "Corporate Turnaround" in the bank statements?
if you do, please shoot me a DM.
Kindly,
TheChoice
Simple Choice Capital
Info@simplechoicecapital.com
www.SimpleChoiceCapital.com
(o)1-646-829-1999
(C) 1-347-733-3115
(f) 1-347-448-5414
"The Business owners Liaison to Finance"
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12-01-2016, 03:31 PM #2
I would say no one will, if Corporate Turnaround is in there, it means the client defaulted on someone else.
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12-01-2016, 03:34 PM #3
- Join Date
- Nov 2016
- Posts
- 91
F*ck corporate turnaround!
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12-01-2016, 03:36 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,502
Sent a PM
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12-01-2016, 03:55 PM #5
- Join Date
- Aug 2014
- Posts
- 620
You know the merchant is a proven scumbag, why even try to help them?
Anthony Saracino
Senior Funding Coordinator
Yellowstone Capital LLC
Direct: (516)-282-0933
Fax: (646)-403-3092
Cell: (201)-523-2596
Asaracino@Yellowstonecap.com
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12-01-2016, 04:15 PM #6
Corporate Turnaround: High RISK LENDER
WBL will fund borrowers who have used corporate turnaround before. We will give a much more cautious offer, but it will not prevent us from funding.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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12-01-2016, 04:16 PM #7
- Join Date
- Mar 2016
- Posts
- 657
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12-01-2016, 04:44 PM #8
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,502
We will provide factoring facilities or asset based lines of credit for companies that have hired corporate turnaround professionals or operational improvement advisors. The Company must be selling to commercial customers, revenues that exceed $5mil/year, and good reason for decline of business. Typical reasons for decline:
-Lost a key customer
-Industry slowdown
-Management issues-NOT owner issues.
Not all companies in decline are bad. Sometimes bad things happen to companies and they seek professional help. Turnaround and Operational Improvement Professionals have been some of my best sources of referrals. If something bad happened to a company and they sought help....I actually feel more comfortable about the situation.
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12-01-2016, 04:48 PM #9
- Join Date
- Jun 2014
- Posts
- 89
Please excuse my ignorance but why would anyone lend to a company that has an obvious predisposition to (very recently) taking on too much debt and hiring debt negotiators? How badly do funders need to deploy funds?????
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12-01-2016, 04:51 PM #10
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,502
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12-01-2016, 04:54 PM #11
- Join Date
- Jun 2014
- Posts
- 89
Ya I am not implying the owners are bad people... Just saying that underwriters use historic events/activity to make predictions regarding the future. Hiring a company to settle your debts for less than you owe should be a major flag (at least reason for pause) regarding future creditworthiness.
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12-01-2016, 04:58 PM #12
lets not pretend one of you will fund a corp turn around client in the MCA world.
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12-01-2016, 05:06 PM #13Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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12-01-2016, 05:12 PM #14
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12-01-2016, 05:18 PM #15Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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12-01-2016, 05:25 PM #16
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12-01-2016, 04:59 PM #17
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12-01-2016, 05:51 PM #18
- Join Date
- Jun 2014
- Posts
- 89
Wait wait wait.... will WBL fund a merchant who is currently in collections with another MCA?? If so I am going to stop trying to make logical arguments.
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12-01-2016, 05:54 PM #19
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12-01-2016, 05:59 PM #20Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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12-01-2016, 05:56 PM #21
- Join Date
- Jun 2014
- Posts
- 89
Well I'm gonna go crawl into a hole and try to figure out how I ended up in this business.
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12-01-2016, 06:07 PM #22
- Join Date
- Jun 2014
- Posts
- 89
So this is where CAN got it all wrong? Turns out the key is to throw out conventional credit risk knowledge and just charge 1.75 and take collateral. It's actually very hard to argue with that underwriting model. I might sound very sarcastic but I'm really not. To each their own. Truth be told these days the low rate lenders kind of have the eggs on their faces while somehow the unapologetic high risk expensive guys have their heads held up high with a goofy smirk.
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12-01-2016, 09:05 PM #23Karen37aGuest
I would think that almost any lender who gives an advance or loan thats "secured" would consider it if the secured instrument is worth enough to cover the loss and profit on it if they default.
( and I believe there is nothing wrong with most secured advances or loans, but the more i know, the more I realize ..i might not know )
Are there any laws on extending advances to people who are already negotiating debt because they are in Financial trouble? Thats the question. It could be considered predatory lending...if we were traditional lenders , which we are not.
I am not a lawyer but I have seen people make motions to sever the liens when they found them predatory in nature...not so cut and dryLast edited by Karen37a; 12-01-2016 at 09:48 PM.
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12-02-2016, 01:29 PM #24
you have a lot of companies who's underwriting is less than perfect, like EBF & CAN they have been funding a lot of other lender's defaults and there are some other companies who's UW carelessly overlooks UCC's filed, old bank statements, etc and will fund defaults. there are a few other new lenders as well that will fund defaults, they're "high risk" lender specialize in D-ZZ quality paper.
Anthony Diamond
Underwriter
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12-02-2016, 01:31 PM #25
- Join Date
- Nov 2014
- Location
- NYC
- Posts
- 187
David Obstfeld
Chief Executive Officer
SOS Capital
1330 Ave of the Americas, NY, NY 10019
212-235-5455
SOSCapital.com
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