Results 1 to 7 of 7
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03-16-2017, 03:39 PM #1
Partial REFI?
1.9M on 2016 YE FINANCIALS
NET 48k
2.8M Gross on 2015 TR
NET 66,688
Balances MCA
LENDINI 120,000 balance 1,100 daily
CAN CAPITAL 150,000 balance 500 daily
Can anyone just payoff the Lendini and move it into a monthly?
If not who can consider refinancing everything
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03-16-2017, 03:56 PM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,509
Do they have any senior lenders above the cash advances?
What is the AR outstanding?
What industry?
Kinda small for us, but if it makes sense, we will take a look.
Kevin.Henry@Seacoastbf.comKevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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03-16-2017, 04:04 PM #3
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03-16-2017, 04:12 PM #4
If the borrower owns real estate, WBL can pay off their 2nd and assume a subordinate position behind CAN.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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03-16-2017, 04:14 PM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,509
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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03-16-2017, 10:42 PM #6
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Partial REFI?
I'm not surprised at the limited number of responses . You haven't told us what the business does for a living. Nor do we know what other assets and liabilities the company has. In other words how can anyone give you an informed answer without knowing the answer to those questions.
Bob Shaw
rshaw@ironhorsecredit.com
734-929-3800
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03-21-2017, 08:51 AM #7
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Based upon the numbers provided, this client is paying out way more than their net income.
I do a lot of consolidations. If I were to consolidate their balances ($270k) over our twenty four month term, their monthly payment would be about $17,500...about four times their net income. This client is in serious financial trouble. Long-term asset based loan (if one of the company principles owns real estate) is likely their only way out.
I do these types of loans when the client cannot qualify for business financing. The good news is the rates are pretty low (8% - 12%). Can finance pretty much all real estate except personal residence and raw land.
Feel free to reach out if you are interested in discussing.
Best,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
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