Investors - factor Amex receivables for 35 yr old company
Date Posted : 2012-04-20
Group : Financial Services
We are looking for a private investor to provide a $30,000 credit line.
Collateral is $100k in accounts receivable.
We offer 1.8% interest per month on the portion of the credit line in use.
An Arizona C Corp wich was incorporated in 1977 and has run continuously ever since. We purchased it in 2003.
Average $6M a year in sales.
Average $120k a month in accounts receivables. $100k form an American Express company wich has been paying regularly since 1977.
Have a A+ BBB rating
Have banked with Bof A since they came to Phoenix in 1992. We are a Prefered Client and have a Personal Client manager.
Never bounced a check.
Our staff has an average of 12 years with us.
Our bookkeeper is a retired CPA and college professor.
Why do we need the credit line?
60% of our sales come in Jan/Feb/Mar and Sept/Oct/Nov. During that time our expenses are high.
Bank of America has always provided our $30k line of credit.
In January, BofA cancelled our line of credit. The reason given was they were required to reduce their exposure to small buisness lines of credit. Since our credit line was paid off it was easy not to renew.
We ended up not needing the line of credit for our Jan/Feb/Mar peak period.
But it was uncomfortable to be concerned about cash flow.
So we want to develop a relationship with the right person to reduce those concerns.
Please email me at the link PandaHi has provided.
I will provide full financial disclosure and more infomation on intresting benefits we can offer the right investor.