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05-08-2017, 12:33 PM #1
3M Gross Need 12 month
Merchant does $3M decent bank a few NSFs.
Problem is some databases show him as defaulting on IOU. He did get on payment plan and almost paid off everything including interest. Who can consider this?
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05-08-2017, 12:41 PM #2
- Join Date
- Oct 2016
- Posts
- 4,318
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05-08-2017, 02:20 PM #3
- Join Date
- Apr 2017
- Posts
- 16
Wbl
Dear Broker Company,
If the Merchant has RE this may be something that WBL would consider.
Please feel free to give me a call.
Best,
Anthony DeLeonardo
Vice President | Regional Wholesale Manager
World Business Lenders
101 Hudson Street, 33rd Floor
Jersey City, NJ 07302
Direct: (646)880-8035
Fax: (551)267-6714
Email: adeleonardo@wbl.com
www.wbl.com
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05-08-2017, 02:47 PM #4
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05-08-2017, 03:05 PM #5
- Join Date
- Aug 2016
- Posts
- 831
You need iou to renew and then you can get him a second at 12 months.Otherwise chambo is right
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05-08-2017, 03:06 PM #6
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05-08-2017, 03:14 PM #7
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- Aug 2016
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- 831
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05-08-2017, 05:09 PM #8
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
3.0 million
Your client may qualify for a different product outsside of the MCA space where defaults and OGD's are not as important
Bob Shaw
734-929-3800
rshaw@ironhorsecredit.com
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05-09-2017, 01:35 PM #9
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05-08-2017, 03:10 PM #10
- Join Date
- Sep 2014
- Posts
- 720
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05-09-2017, 01:54 PM #11
- Join Date
- Feb 2017
- Posts
- 3,463
The merchant might not want direct factoring, but what about a LOC based on the A/R? Doesn't need to redirect the billing to another company - stays completely local. Is he B2B?
Email me for some details.
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05-09-2017, 01:57 PM #12
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
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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05-09-2017, 04:16 PM #13
- Join Date
- Feb 2017
- Posts
- 3,463
You might be onto something there Kevin.... Very good question indeed.
It happens to be that the other company does have access to the cash. They setup a bank account that the LOC company has joint access to. It's probably not read-only if you get my drift.
But I'm not sure.
Besides, and I'll admit to it also, you are the very best in this field with an awesome reputation for a reason.
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