[Cambridge]

I need to find someone that can move the needle on this deal.
This practice has been operating successfully for just under 30 years. I'm hoping to find a consolidation solution for this client where he can net a little extra and possibly roll the payments into weekly or monthly. He is seeking to net a little extra cash for upgraded dental equipment and to hire another employee.

He currently grosses $600,000 annually. (See the excellent net profits for years past below)

The business currently has some debts, see below:


SBA - $500,000

Fundation - <$70,000

Quarterspot - $100,000

Quickfix - $40,000


Now I realize some of these debts matter and some don't depending on the lending style and underwriting guidelines of certain lenders. He is mainly interested in knocking out the Quarterspot and Quickfix loan and hopefully netting some funding. His SBA and Fundation is monthly, his Quarterspot payment is weekly and his Quickfix loan is daily. He has NEVER missed a payment from any of these lenders.

He is interested in a consolidation payoff of the Quarterspot and Quickfix loan, and to net as much as possible. His goal is to acquire $200,000 total to move forward, and preferably a weekly or monthly payment over 18-24 months. Quarterspot maxes out at $150,000, which we've already maxed on initial approval, so that's why I'm hitting the forum, I'm hoping someone can come through.

Here's a rundown of his annual numbers:


2013 - 560k Gross - 95k Profit

2014 - 625k Gross - 200k Profit

2015 - 600k Gross - 210k Profit

2016 - On Pace to Match 2015


He is the sole owner of the business, a home owner for 18 years though his credit has dropped to the mid to high 600s due to high personal CC balances. When I looked at it last summer, it was in the 720 range. As of last week it was 650.


Does anyone have a suggestion, any questions, or can anyone guide me in the direction of someone that can help this client?



Thank you!



---------------------
Eric Douglas Statzer
President

Statzer Consulting
100 S. Ashley Dr. Suite 600
Tampa, FL 33602
305.746.1470
eric@statzerconsulting.com

[GMFunding]

How recent was the last funding (Qspot and Quickfix)?

[Cambridge]

Quarterspot was for $150,000 in July 2016

Quickfix was for $25,000 on 10/31 and a renewal was deposited on 2/3 for $39,000

[AdvanceFund]

I need to find someone that can move the needle on this deal.
This practice has been operating successfully for just under 30 years. I'm hoping to find a consolidation solution for this client where he can net a little extra and possibly roll the payments into weekly or monthly. He is seeking to net a little extra cash for upgraded dental equipment and to hire another employee.

He currently grosses $600,000 annually. (See the excellent net profits for years past below)

The business currently has some debts, see below:


SBA - $500,000

Fundation - <$70,000

Quarterspot - $100,000

Quickfix - $40,000


Now I realize some of these debts matter and some don't depending on the lending style and underwriting guidelines of certain lenders. He is mainly interested in knocking out the Quarterspot and Quickfix loan and hopefully netting some funding. His SBA and Fundation is monthly, his Quarterspot payment is weekly and his Quickfix loan is daily. He has NEVER missed a payment from any of these lenders.

He is interested in a consolidation payoff of the Quarterspot and Quickfix loan, and to net as much as possible. His goal is to acquire $200,000 total to move forward, and preferably a weekly or monthly payment over 18-24 months. Quarterspot maxes out at $150,000, which we've already maxed on initial approval, so that's why I'm hitting the forum, I'm hoping someone can come through.

Here's a rundown of his annual numbers:


2013 - 560k Gross - 95k Profit

2014 - 625k Gross - 200k Profit

2015 - 600k Gross - 210k Profit

2016 - On Pace to Match 2015


He is the sole owner of the business, a home owner for 18 years though his credit has dropped to the mid to high 600s due to high personal CC balances. When I looked at it last summer, it was in the 720 range. As of last week it was 650.


Does anyone have a suggestion, any questions, or can anyone guide me in the direction of someone that can help this client?



Thank you!



---------------------
Eric Douglas Statzer
President

Statzer Consulting
100 S. Ashley Dr. Suite 600
Tampa, FL 33602
305.746.1470
eric@statzerconsulting.com

Depending on the strength of daily balances I can do an incremental net consolidation.

[RichardGerard]

Due to the strong profit margin the earnings have DSCR room- however he's already played his cards. With SBA and Fundation in there everyone else is chasing after junior debt when the client is only doing 50k plus per month..

There are ways to assist if the client is using capital to purchase another practice- however as a straight debt consolidation play it's risky..

[dpFund]

Due to the strong profit margin the earnings have DSCR room- however he's already played his cards. With SBA and Fundation in there everyone else is chasing after junior debt when the client is only doing 50k plus per month..

There are ways to assist if the client is using capital to purchase another practice- however as a straight debt consolidation play it's risky..

Agreed. As a consolidator, I am staying away...

[Christian]

Does he own the building he works out of?