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01-20-2017, 10:45 AM #1
- Join Date
- Dec 2016
- Posts
- 6
Res. Healthcare paid monthly from Gov. FICO 650+ monthly rev $80K looking for $150K
I'm having a hard placing this loan because of:
1) low monthly deposits
2) 2 bank accounts (1 for deposits-1 operational-2 banks)
The business has 1 credit card and 3 vehicles as debt.
Average monthly gross is $80K.
Any ideas?
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01-20-2017, 10:53 AM #2
- Join Date
- Jan 2016
- Posts
- 435
A few funders would entertain this, however with only 1 deposit per month seeing an approval that is 2x the merchant's monthly gross revenue production is highly unlikely without collateral.
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01-20-2017, 12:09 PM #3
- Join Date
- Dec 2016
- Posts
- 6
We would entertain any offers. There is no collateral that is owned outright that I know of. Do you know of a lender who would less?
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01-20-2017, 12:47 PM #4
- Join Date
- Jan 2016
- Posts
- 435
* funder not lender
and it will depend on the ADB/nsf's etc
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01-20-2017, 01:11 PM #5
- Join Date
- Jan 2017
- Posts
- 57
Any collateral or purchase orders?
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01-20-2017, 02:11 PM #6
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Gross Profit Margin is more important to us than actual deposits/top line..
Touch base if you would like assistance.. Depending on what the client does this might be something we deploy our own capital on..
Are there assets on the balance sheet?
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01-20-2017, 04:06 PM #7
If the borrower owns real estate with equity, there is a good chance we can put this loan together 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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01-23-2017, 09:45 AM #8
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01-23-2017, 10:20 AM #9
- Join Date
- May 2016
- Posts
- 42
The number of bank accounts and low number of monthly deposits is not an issue for us and we could potentially provide them with a weekly or even monthly repayment structure. Depending on the time in business as well as the average daily balances, we could probably provide up to $120k and up to 24 months (need to keep the debt service cost ratio down over longer terms). Though this is not the amount they are looking for, our product acts like a line of credit and the merchant can draw down on the repaid principal in as little as one month after funding. Feel free to reach out to me to discuss this deal and our products further.
Thanks,
Steven Safirstein
Vice President of Sales & Head of ISO Relations
Breakout Capital Finance, LLC
6849 Old Dominion Drive, Suite 360, McLean, VA 22101
O: 703 852 6013 I steven@breakoutfinance.com
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01-23-2017, 01:21 PM #10
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Res. Healthcare paid monthly from Gov. FICO 650+ monthly rev $80K looking for $150K
Hi. it appears your client would qualify for factoring. Essentialy a line of credit the problems you raised are minor to us.
We've done many deals over the years with a single deposit.
Please give me your contact information.
Bob Shaw
rshaw@irinhorsecredit.com
734-929-3800
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01-25-2017, 01:08 PM #11
- Join Date
- Aug 2016
- Posts
- 16
I pay brokers %70 on deals under 75k anything over I pay %75 !!!! I would love to take a look at the file and provide you with an offer, Give me a call or shoot me an email. I look forward to hearing from you !
Jonathan Locklear
ISO Funding Director
Direct: (305) 423-5226
Fax: 863-354-7061
jlocklear@locklearcapital.com
6341 Sw 80th St
Suite 6 Miami, FL 33143
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