Merchant wants renewal after they got a 2nd position.
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  1. #1

    Merchant wants renewal after they got a 2nd position.

    Merchant has an existing advance. Existing balance is $27k, original payoff was $38,500. They are looking for more money, but have gotten a small 2nd position since then. I believe $7500 in a 3 month program about 1 month ago.

    Can I get anything for them other than a 3rd position? They are showing more in deposits now. From $25k/month then to around $60k/month average now.

    Thanks
    Jay Costa
    Lightning Advance Capital
    (201) 297-6881

  2. #2
    Veteran Reputation points: 135672 Chambo's Avatar
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    Original payoff was $38,500? Balance is $27,000? Who would state that deal is eligible in the first place?

    Depending on the fund, that would is dead for renewal due to stacking. Other funds might just require WAY MORE be paid off.

    the downside of stacking. Merchant screws themselves with their original funder. So I hope that extra $7500 went a LLLLOOOOOOOONNNNNNNNGGGG WAY!
    Last edited by Chambo; 05-05-2014 at 04:39 PM.

  3. #3
    Definitely not in the merchant's best interest, unless he's in a quick turn around scenario.
    Who funded the first two?
    PM me the details, we have done 3rd/4th positions for more than that.

  4. #4
    Quote Originally Posted by Chambo View Post
    Original payoff was $38,500? Balance is $27,000? Would would state that deal is eligible in the first place?

    Depending on the fund, that would is dead for renewal due to stacking. Other funds might just require WAY MORE be paid off.

    the downside of stacking. Merchant screws themselves with their original funder. So I hope that extra $7500 went a LLLLOOOOOOOONNNNNNNNGGGG WAY!
    Yea I agree. I told the merchant not to take a 2nd, they said they would wait to renew. Lo and behold they call me up now asking for more after they got a 2nd from somebody else...
    Jay Costa
    Lightning Advance Capital
    (201) 297-6881

  5. #5
    The revenues may be high enough to pay off existing advances and get a new deal. Contact me at bruce@bdfunding.com.

  6. #6
    Quote Originally Posted by bruce@bdfunding.com View Post
    The revenues may be high enough to pay off existing advances and get a new deal. Contact me at bruce@bdfunding.com.
    email sent
    Jay Costa
    Lightning Advance Capital
    (201) 297-6881

  7. #7
    Senior Member Reputation points: 10944
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    Jay,

    Paying off both balances is absolutely the best course of action for that merchant which is something we would pursue at Yellowstone. Email me and we can go over our programs to get this one banged out amcdonad@yellowstonecapllc.com

  8. #8
    Senior Member Reputation points: 12452
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    Why would you pay off both balances? The merchant clearly stacked once and would do it again. Pay off the stacking company and they will get on the phone right away with the merchant and pitch another advance.

  9. #9
    Senior Member Reputation points: 122
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    MFS Global may be able to approve them for a 3rd position.

    Contact me at isosupport@mfsglobal.com or call me 702-473-1145

  10. #10
    Senior Member Reputation points: 148 Capital Stack's Avatar
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    Andy you know the merchant will stack after you consolidate anyway plz..

  11. #11
    Send it over! iso@capital-infusion.com, cc: josh@capital-infusion.com


    We have no bank charter so have the freedom and flexibility to do logic-based underwriting. Call me directly and let me know what you need to get it done. We like to get funky 305-306-3060

    - A-/C+ paper (no high risk)
    - 1-4 positions
    - Monthly/weekly remittance
    - Max Approval: $500k
    - Max Term: 15 months
    - Max Upsell: 13 pts

    Send all deals to iso@capital-infusion.com, cc: josh@capital-infusion.com

    Josh Waxman
    VP Sales & Business Development
    E: josh@capital-infusion.com
    P: 305-306-3060

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