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HIGHLAND BEACH, FL (USA)
Role(s):
Founder/Owner/Principal
Global Development and Investment Group
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Service Provider
Location:
Highland Beach
Description:
***Lending opportunity in the Merchant Cash Advance space***
Florida three+ year old company seeks to increase its portfolio from 30mm to 100mm in assets. Current capital limits their funding ability. Returns for investors has been mid to high teens.
Company provides discounted cash advances ( approx 1.3 factor rate) to small businesses under served by the banks. Most requests are approved and funded in 24- 48 hours for small balance short term advances secured by UCC filings on personal and business assets. Default rates are under 10%.
Investors are syndicate loan partners with a 9 month renewable note and participate in each advance with all the other investors. The company receives repayments daily from the bank or credit card facilities of the merchant. These are subsequently redeployed into new deals as approved.
After the company takes a fixed percentage for overhead etc. from the remittances, the remainder is allocated to the investors account and redeployed to meet new requests for merchant advances.
This is a brief synopsis to determine a possible interest only.
Spencer Troy
Services Provided:
- Capital Broker
Manager/Supervisor
Global
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Startup
Location:
Highland Beach
Industry:
Finance
Year Founded:
2013
Number Employees:
1-10 people
Business Stage:
Mature
Entity Type:
Limited Partnership
Description:
Facilitate private equity and private debt placement of middle market opportunities