[CFSCCorp]

Scenario:

industry: Construction
Income: 1Mil+ deposits per month
TIB: 5 years
Real Estate: None.
Credit: 675 +/-
Loan Amount Req'd: As close to 1Mill+ as possible.

Has 650k in MCAs he'd like to consolidate plus any extra 500k +/- if possible. Looking for term loan or line of credit.

Any suggestions?

[Zach]

Dan Page would be a good solution for this, assuming the borrower is profitable.

[TedFundy]

From the info you provided, he probably has 1.5 Million in factorable A/R. Maybe 20%-50% of his deposits are due to other subs or material suppliers. MCA companies have "overadvanced" him... AKA they gave him money based on his deposits even though his bank statements include deposits that encumbered via mechanics lien rights. Therefore, he is paying a finance fee on money that passes through his account. Have you looked into an A/R line of credit? We can easily payoff the MCA's and do an interest only payment to build up cash reserves while we factor his invoices.

[bdshaw]

I think Ted has th e right plan
Bob

[dpFund]

Dan Page would be a good solution for this, assuming the borrower is profitable.

Thanks Zach!

CFSCorp - Feel free to reach out if you would like to discuss. We funded a construction firm last month and have another one going to funding this week. Client would need to be showing $130k/month in net income to pre-qualify. That is a higher net margin that I normally see for the construction industry though.

If it is not a fit, Ted Fundy would likely be a good fit (per above post).

Best,

Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com

[RichardGerard]

SMH... Client doing $13M per year. In an industry that has payer issues (GC's pay when paid, milestones, credit insurance challenges etc.).

Rather than just looking to leverage receivables (which will cost approximately 3% per 30 days or 36%+), and/or arrange a long term advance (alleging the client is trending to a $1.5M net profit), shouldn't we understand the collateral (not just Real Estate), and earnings before suggesting a possible solution?

Fact is that maybe the aforementioned suggestions will be spot on, however the details will drive the file where it needs to go.

[GoldStandard]

Signature Bank is Providing lines of credit 10% up 6 months and 15% up to a year... They gave one of my clients who is a Large contractor Similar Situation. They may want lower balances.


If you need a large advance with weekly payments that can be arranged as well.

industry: Construction
Income: 1Mil+ deposits per month
TIB: 5 years
Real Estate: None.
Credit: 675 +/-
Loan Amount Req'd: As close to 1Mill+ as possible.

Has 650k in MCAs he'd like to consolidate plus any extra 500k +/- if possible. Looking for term loan or line of credit.

Any suggestions?[/QUOTE]

[RichardGerard]

Signature Bank is Providing lines of credit 10% up 6 months and 15% up to a year... They gave one of my clients who is a Large contractor Similar Situation. They may want lower balances.


If you need a large advance with weekly payments that can be arranged as well.

industry: Construction
Income: 1Mil+ deposits per month
TIB: 5 years
Real Estate: None.
Credit: 675 +/-
Loan Amount Req'd: As close to 1Mill+ as possible.

Has 650k in MCAs he'd like to consolidate plus any extra 500k +/- if possible. Looking for term loan or line of credit.

Any suggestions?

[/QUOTE]


I actually bank with them and have a familiarity with their ABL parameters.. They might look at this if it is in their geographic region- as they wouldn't mind the 1.1M per month in deposits.. Again: need details other than deposits, TIB, and FICO...