Hello,

This is for my customer who is seeking $300,000 or more in funds via factoring with signed contracts or a first position MCA.

The contracts they are willing to use are worth $620,000 total so they would like to get as much as possible and have $60,000 in cash assets to invest into the loan or utilize as collateral also.

They've taken MCAs before, they recently paid off a few and have none currently. They just have an LOC with the bank they use right now. Owner has a FICO that is barely sub 700 only due to the inquiries he got from his last broker being trigger happy. Did $700k last year and are approaching $550k already for 2017 so far, so a lot of growth here.

Main issue in getting declined on term and SBA loans = low daily balances, some overdrafts, too many recent open accounts (although they have proof of pay off)

Any recommendations on a factoring company to bring this one too? I'm new to factoring and I'm unfamiliar with how many points I should expect on this if I went the factoring route and what kind of rates my customer would be paying.

Any insights? Thanks!