Results 1 to 9 of 9
-
12-16-2016, 01:39 PM #1
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
ED business looking to leverage their 75k reserve
SO,
I have this ED clinic, 6 locations doing 20mill a year in gross sales.
They were processing with Harbourtouch and they shut them down, are holding 75k in risk reserve and will not release it till April 1st. On 75k in sales, they has .16% in chargebacks. HT says they dont like the business.
Obviously that is very low. The last two years their chargebacks were around 1.2%.
So would anyone be willing to loan them, say 55-60k with anticipation of getting paid back the 75k once the reserve is released April 1st?
I know they would need to get something in writing saying the reserve will be released from HT.
Any thoughts?>
-
12-16-2016, 01:43 PM #2
- Join Date
- Dec 2015
- Posts
- 16
Prepare to answer a lot of PM's if gross is truly $20MM /yr.
-
12-16-2016, 02:17 PM #3
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
ED business looking to leverage their 75k reserve
With a medical practice doing $20mm annually why are they concerned about 60 k?
Something is wrong. I've nevw heard of a situation like this where the business manager can't pick up the phone and get a short term for this amount.
Perhaps they need to look at a longer term financisl solution.
Most of their earnings will come through Medicare and are easily financable.
Bob Shaw
Iron Horse Credit, LLC.
rshaw@ironhorsecredit.com
734.929.3800
-
12-16-2016, 02:56 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,493
-
12-16-2016, 03:13 PM #5
- Join Date
- Dec 2016
- Location
- New York
- Posts
- 30
I agree.
-
12-16-2016, 04:32 PM #6
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,976
-
12-16-2016, 04:37 PM #7
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
ED business looking to leverage their 75k reserve
Kevin, I would rather save time and just mail you a check.
Bob
-
12-16-2016, 10:01 PM #8
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
got tax returns. 19 mill in gross
-
12-17-2016, 11:15 AM #9
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,976
Similar Threads
-
CRM Tip of the Week – Leverage Account Teams to streamline security in Salesforce
By HenryA in forum PromotionsReplies: 0Last Post: 04-04-2016, 04:47 PM -
Leverage Point...is it true they are bankrupt?
By John Galt in forum Merchant Cash AdvanceReplies: 25Last Post: 10-02-2015, 02:18 PM -
Increase Funding, brokers learn how to leverage social media with FinServe
By SteveFinServe in forum PromotionsReplies: 1Last Post: 09-23-2015, 12:41 PM -
Cityscape is now Leverage Point. Caveat Emptor!!!
By John Galt in forum Deal BinReplies: 2Last Post: 09-11-2015, 05:02 PM