Results 1 to 9 of 9
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12-09-2016, 09:19 AM #1
- Join Date
- Apr 2014
- Location
- Chicago, IL
- Posts
- 185
$300,000 Consolidation
Hello Everyone:
I have a large defense contractor trying to consolidate 3 loans between two companies that he owns, both doing the same thing. One company he uses for debt service and liability, the other reports all the profits. The revenues exceed $6M between the two of them. He's currently paying up to $3500 per day. Wants a monthly pmt or a weekly pmt chopping his expenses down.
I sent this over to the usual suspects (Funding Strategy, Funding Circle, etc) and they are having issues with the structure of the debt on one company vs. the revenue/assets on the other. Though the file has not yet been declined, I'm getting a little skiddish.
I seek someone else who is more creative on this deal. I can do co-brokering but you must be open with me about where you are taking the file. PM me asap. Want to fund this next week.
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12-09-2016, 11:10 AM #2
$300,000 Consolidation
If the borrower has real estate, WBL is a good option for them.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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12-09-2016, 12:11 PM #3
- Join Date
- Apr 2016
- Posts
- 103
Zach,
How many positions does this contractor have and is there any real estate to strengthen the file? We will typically lend 10% of gross annual sales and consolidate up to 3 positions, but require collateral for contractors. Monthly payments, term out to 48-months.
Let me know if this might merit a conversation.
Sean
LiftForward
917.477.6534
sean@liftforward.com
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12-09-2016, 12:45 PM #4
- Join Date
- Apr 2014
- Location
- Chicago, IL
- Posts
- 185
Just to clarify merchant is looking for a 3-5 year term. Thanks!
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12-09-2016, 12:58 PM #5
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 730
Go with a true asset based lender. Merchant will need AR/Equipment/ and maybe real estate
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12-09-2016, 02:54 PM #6
I believe Dan Page goes up to 30 months.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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01-03-2017, 06:34 PM #7
- Join Date
- Apr 2014
- Location
- Chicago, IL
- Posts
- 185
Anyone else that can do this deal unsecured? Dan page is a no go. Bizfi is the only one considering it but they are taking their sweet time.
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01-03-2017, 09:49 PM #8
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01-05-2017, 03:54 PM #9
- Join Date
- Apr 2014
- Location
- Chicago, IL
- Posts
- 185
2 year. But they're the only one willing to do a deal this size
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