[WeFundIt]

Client is in did $8MM+ last yr in revenue and banks are in great shape. He's in need of an uncollateralized term loan for $850k - 1MM, with 2-4 years repayment terms. No daily payments. So far, the best I am getting are offers that either do not match the term requirement, or for the ones that do, are unable to meet the funding requirement. If necessary, we'll consider something like $500K + 350 or 600/250 split between 2 lenders, if the 2-4 yr. terms can be met. He's firm on the 2-4yrs, because, understandably, he doesn't want to strain his company's cashflow.

TIB: 8 yrs.

Anyone out there?

[abfunders]

I might have an idea.

But it's unlikely you're going to find a $850,000 term loan without some form of collateral.
If the guy has A/R to use as collateral (there are ways to do it without "assigning" it through a LOC), then there's what to talk about.

Why does he need an $850,000 term loan? Why can't a factor or LOC suffice? He's nervous about rates? Term loans are not ideal for "working capital."

[Hedley Lamarr]

Client is in did $8MM+ last yr in revenue and banks are in great shape. He's in need of an uncollateralized term loan for $850k - 1MM, with 2-4 years repayment terms. No daily payments. So far, the best I am getting are offers that either do not match the term requirement, or for the ones that do, are unable to meet the funding requirement. If necessary, we'll consider something like $500K + 350 or 600/250 split between 2 lenders, if the 2-4 yr. terms can be met. He's firm on the 2-4yrs, because, understandably, he doesn't want to strain his company's cashflow.

TIB: 8 yrs.

Anyone out there?

WeFundIt,

What industry? If they are doing $8Mil a year they likely have over $800K in AR outstanding not including other assets like inventory and/or equipment. If the prospect is seeking liquidity without upsetting cash-flow, they should consider a traditional bank line of credit or they don't qualify an asset based line of credit of factoring. Any of theses will provide the liquidity you are seeking and actually increase cash flow.

KH

Kevin.Henry@SeacoastBF.com

[Fetachini]

WeFundIt, this would be perfect for our debenture program (hedge fund money) 2-4 year term loans with monthly payments. 10-18% rate. Like AB Funders said, we can use A/R as collateral.

[MikePhilipsGCC]

Client is in did $8MM+ last yr in revenue and banks are in great shape. He's in need of an uncollateralized term loan for $850k - 1MM, with 2-4 years repayment terms. No daily payments. So far, the best I am getting are offers that either do not match the term requirement, or for the ones that do, are unable to meet the funding requirement. If necessary, we'll consider something like $500K + 350 or 600/250 split between 2 lenders, if the 2-4 yr. terms can be met. He's firm on the 2-4yrs, because, understandably, he doesn't want to strain his company's cashflow.

TIB: 8 yrs.

Anyone out there?

Did you secure funding for this deal? If not, I can definitely get it done without the collateral. How’s their credit? We just secured $630k over 36 months with monthly payments for 1 of my clients.

Shoot me an email, let’s see if we can make something happen.

Regards

Michael G.
C: (516) 325-3147
E: Michael@GothamCapitalCity.com

[ISELLCASH]

Fund So Fast can offer 500k for 18 months and the additional 350k over 10 months as a 2nd position.

Feel free to reach out to info@fundsofast.com with ay questions.