Consolidation of 600k in advances
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  1. #1
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    Consolidation of 600k in advances

    I have a client who is looking to consolidate 600K in mca balances.Gross deposits are 1.2-1.4 million a month. Good credit, in business over 20 years. Never missed a payment on any mca deal. Transportation. Would appreciate any heads from anyone who can handle this type of deal.....directly.

    Client is looking for max 9 months to one year deal. Thanks in advance.

  2. #2
    Senior Member Reputation points: 4567 NickHubbard's Avatar
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    Nick Hubbard
    Senior Loan Advisor
    314-252-0299 - Office
    314-885-2262 - Direct
    nick@elitefactoring.com
    www.elitefactoring.com

  3. #3
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    Consolidation of 600k in advances

    Reach out to Richard Gerard. He just did one for me in the same industry. Made a pretty penny and left the client in a MUCH better position.

  4. #4
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    I am a direct funder and we fund consolidations like this regularly.

    On average, we get client payments down to about one-third of what they are paying now, when doing a consolidation.

    Monthly payment. 12-30 month term. Client can prepay any time after six months with no fees, penalties or interest (just paying off remaining principle).

    We fund a lot of companies in the transportation industry.

    For $600k, client will need to be showing somewhere in the range of $75k monthly net profit to pre-qualify.

    Feel free to reach out if you would like to discuss.

    Best,

    Dan Page
    Direct: (303) 938-8280
    dan@fundingstrategypartners.com

  5. #5
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    Quote Originally Posted by jjdcnetrex2 View Post
    I have a client who is looking to consolidate 600K in mca balances.Gross deposits are 1.2-1.4 million a month. Good credit, in business over 20 years. Never missed a payment on any mca deal. Transportation. Would appreciate any heads from anyone who can handle this type of deal.....directly.

    Client is looking for max 9 months to one year deal. Thanks in advance.
    IF he has free and clear trucks along with other assets there are options for 2-5 year term loan with monthly payment rate 15-19%

  6. #6
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    Thanks Oxford Dan..

    All about the details.

    Jjdcnetrex2: If there is a way to get it done- we will.

    RG

    Business Capital Consultants
    775 Park Avenue Suite 255
    Huntington, NY 11743

    516 510 3855

  7. #7

    Consolidation of 600k in advances

    Hello,

    We just closed one of these that was very similar. I would like to get a little bit more of the details.
    Last edited by The Loan Ranger; 02-27-2017 at 04:47 PM.

  8. #8
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    Quote Originally Posted by jjdcnetrex2 View Post
    I have a client who is looking to consolidate 600K in mca balances.Gross deposits are 1.2-1.4 million a month. Good credit, in business over 20 years. Never missed a payment on any mca deal. Transportation. Would appreciate any heads from anyone who can handle this type of deal.....directly.

    Client is looking for max 9 months to one year deal. Thanks in advance.
    Hi JJ, if merchant has strong daily balances I can do a net incremental consolidation.

  9. #9
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    Quote Originally Posted by jjdcnetrex2 View Post
    I have a client who is looking to consolidate 600K in mca balances.Gross deposits are 1.2-1.4 million a month. Good credit, in business over 20 years. Never missed a payment on any mca deal. Transportation. Would appreciate any heads from anyone who can handle this type of deal.....directly.

    Client is looking for max 9 months to one year deal. Thanks in advance.
    With Real Estate (Commercial / Residential) we can provide 4-year terms with monthly payments and rates of 12-15%.

    Let me know if we can be of assistance

    Sean
    LiftForward
    917.477.6534
    sean@liftforward.com

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