[Always-closing]

Cali business since july 2016 has 80k deposits low mths, high mths 150k needs 15k for 20-22k max 2 mths ,heres the trick merchant would like to make 2 scheduled payments split as first payment 10k 2nd payment difference . No invoice factoring merchants clients will not approve or he doesn't want them to know he says . Merchant has separate entity 8yrs same industry doing a little higher volume. Has a 1 position balance low 20's but he pays back every 2 Fridays 35% of previous 2 weeks deposits. He will not take another daily payment program he loves % of deposits now. Same lender wont do deal because they no longer fund in Cali.

[AdvanceFund]

Cali business since july 2016 has 80k deposits low mths, high mths 150k needs 15k for 20-22k max 2 mths ,heres the trick merchant would like to make 2 scheduled payments split as first payment 10k 2nd payment difference . No invoice factoring merchants clients will not approve or he doesn't want them to know he says . Merchant has separate entity 8yrs same industry doing a little higher volume. Has a 1 position balance low 20's but he pays back every 2 Fridays 35% of previous 2 weeks deposits. He will not take another daily payment program he loves % of deposits now. Same lender wont do deal because they no longer fund in Cali.

Hit me up. We can be consider creative options many times.

[TedFundy]

No invoice factoring merchants clients will not approve or he doesn't want them to know he says

Tell your merchant to take a look at his subcontract agreement (if he has one). If there is an anti-assignment clause that explicity states the sub cannot to remit payment to another party, then he actually can't factor. However, I would be willing to bet there isn't said clause. He is legally able to use a factor and it is fully within his rights as a contractor. If he changes bank accounts or moves locations, can he not notify the customer to remit payment elsewhere? The check will still come in his name. It just goes to a lockbox. There is a difference between not wanting a customer to know you have a factor and taking on MCA debt. That difference is a few thousand dollars and possibly the financial success of his business. Anyways, having a factor isn't a crutch. It's quite the opposite. We can approve your client for a 200k line depending on the creditworthiness of his client. We can speed up his payments for 3%.

Or get him the MCA.

[bdshaw]

I agree with Ted. My guess is he doesn't want his customers that he is factoring. I would also guess he was told that you only use factoring if you're in trouble . Lastly I would also guess that the person who told him this has no idea what he was talking about. I would let Ted speak to him and give him examples of very large companies that factor their receivables such as Arrow Shirt and all the you manufacturers.
Bob Shaw
Iron Horse Credit
rshaw@ironhorsecredit.com
734-929-3800

[TedFundy]

I agree with Ted. My guess is he doesn't want his customers that he is factoring. I would also guess he was told that you only use factoring if you're in trouble . Lastly I would also guess that the person who told him this has no idea what he was talking about. I would let Ted speak to him and give him examples of very large companies that factor their receivables such as Arrow Shirt and all the you manufacturers.
Bob Shaw
Iron Horse Credit
rshaw@ironhorsecredit.com
734-929-3800

Thank you Bob.