Results 1 to 8 of 8
Hybrid View
-
05-06-2017, 10:08 PM #1
- Join Date
- Mar 2016
- Posts
- 335
Fifth Position for Texas Construction Sub
We are doing an interest only ABL for a roofing contractor in Texas but it is going to take about a week or more. They came to us with 4 MCA'a already so obviously there is a cash flow issue here. He self performs all the work so there are HUGE margins. The problem arises because he overbooked projects and is getting paid slowly. He won the bid to remodel and/or do new roofs on every McDonalds in TX/CO for the 3rd largest McDonalds franchise in the US, so he will get paid. Everything on the LOC won't be wrapped up until next week or longer. The LOC will go to paying off the first few MCA's (or all). They did 3M in deposits in April but have tons of NSF's. I know there is some taboo around a fifth position but he risks not paying his employees until we wrap up the ABL line. So cash is an immediate need for him. Who can do it?
Note: can't collateralize real estate in Texas.
-
05-06-2017, 11:27 PM #2
- Join Date
- Oct 2016
- Posts
- 4,318
Who are his 4 positions with?
-
05-08-2017, 12:46 PM #3
- Join Date
- Mar 2016
- Posts
- 335
-
05-07-2017, 01:34 AM #4
- Join Date
- Feb 2017
- Posts
- 3,455
Is Private money on real estate doable? I am working a deal now with a long-term parking lot in Texas that the private lender gave me a quote on. All the borrower needs to find is the fee for the appraisal and to fly the investor down to the property. Hefty sell, but worth it.
-
05-07-2017, 12:26 PM #5
- Join Date
- Jun 2016
- Posts
- 416
-
05-08-2017, 03:03 PM #6
- Join Date
- Mar 2016
- Posts
- 335
Crickets in here?!
Where are all these proud bottom feeding MCA direct lenders? Who wants to make some money?
-
05-08-2017, 04:49 PM #7
- Join Date
- Oct 2016
- Posts
- 4,318
Have you tried YSC, Mantis, New Era or ML Factor?
-
05-08-2017, 07:19 PM #8
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Great job Ted
Bob
Similar Threads
-
Texas Deal
By TedFundy in forum Deal BinReplies: 8Last Post: 03-14-2017, 01:43 PM -
second position construction $250k or better
By viper066 in forum Deal BinReplies: 9Last Post: 01-26-2017, 07:58 PM -
2nd position $100K for construction co in CA (or 3rd for $75K with 6 mo term)
By SBF in forum Deal BinReplies: 4Last Post: 03-10-2016, 09:07 AM -
Construction Deal 2 - $140 - needs 2nd POSITION or PAYOFF
By Steven_O in forum Deal BinReplies: 7Last Post: 01-09-2015, 10:19 AM -
Texas & Georgia Deals
By CherelleSOS in forum Merchant Cash AdvanceReplies: 0Last Post: 12-17-2014, 11:20 AM