Activity Stream
All times are GMT -4. The time now is 09:32 AM.
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Older Activity
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Today, 09:05 AMThanks for the constructive criticism Micah
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Today, 08:54 AMCadence Bank can also do it based on cash flow but their VP is very hard to reach and their minimum loan amount is $750,000.
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Today, 04:07 AMNah that's just your lenders mate, Just had one with 6 positions get bought out and have several with 3-8 positions we are working on. 2 of those deals also have sub 650 fico's, its all about who you work with when it comes to the sba. If they can cashflow the new loan I could care less if its 1 mca or 20.
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Yesterday, 11:24 PMName of Project: Project Type (multi-family, MPC, commercial, etc.): Location: Funding Type: (equity, debt, bridge loan, etc.) Please respond to the following questions as completely as possible and provide the requested backup documentation. Thank you! 1. Provide a short narrative/description of the project. 2. What is total project cost, capital stack? Please provide a complete proforma. 3. What is the total equity input (cash, land, entitlement costs, etc.) from the sponsor? (Please note that lenders will not accept developer fees left in project as equity) 4. Are there any other funding sources (PACE, TIF, tax credits, etc.)? Are they approved/secured? Please provide documents/evidence. 5. If prepaid interest is factored, for how long? (Note: Some lenders will not use prepaid interest in the total construction costs for loan to value or loan to cost purposes.) 6. Will the construction be phased/staged? If so, how many segments? 7. Is the project entitled, site shovel ready? If not, what is the time frame for entitlements, permits, etc.? 8. Is there a current appraisal for the project? What is the appraisal amount and the estimated equity? Please provide the appraisal. 9. What will be the finished or completed value of the project? 10. What is the sponsor's experience? Please provide sponsor's resume and list of developed projects. 11. What is sponsor net worth/income, etc? Please provide sponsor's financials, REOs and credit score. 12. Any additional notes for clarification? List of required preliminary documents: 1. Project proforma; 2. Offering Memorandum; 3. Documents re additional approved funding sources (PACE, TIF, tax credits, etc.); 4. Property appraisal; 5. Sponsor's resume; 6. Sponsor's List of developed projects; and 7. Sponsor's financials, REOs and credit score.
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Yesterday, 11:00 PMTechVoyager replied to a thread ISO: PML | 3.5MM | 17.8MM TTM - 17YO Business | 120 day term with 1500 basis points in Business LoansYou're already on the list. Need a pitch deck with LOI's, etc Yup, can you imagine how horrible it would be for someone to publish that publically. I'd probably get fired with a nice lawsuit on my hands. You don't set the standards, the lender does. Yes and no, you know what the willing is, and the borrower is in a strong position from the trash you get daily. How many companies generate 17.8MM in TTM needing non-trad funding with 50MM in IP (oops, did I slip that). Bridge against sale....who is the buyer? Again, not how that works. Unless do you want to me my co-defendent against S&Ps! Exclusive?....really?...on a national forum? Dictionary states: restricted or limited to the person, group, or area concerned. I am well in my right to be right on the terminology. He and I both may have sources....reach out... I believe it's called a reach around! (WAIT!).... ALL in jest of course! I figured you'd post first :). I am sure they will talk to you soon Steve.
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Yesterday, 10:42 PMOlderguy replied to a thread ISO: PML | 3.5MM | 17.8MM TTM - 17YO Business | 120 day term with 1500 basis points in Business LoansReach out to me or Elon. Need a pitch deck with LOI's, etc You don't set the standards, the lender does. Bridge against sale....who is the buyer? Exclusive?....really?...on a national forum? He and I both may have sources....reach out...
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Yesterday, 10:18 PMTechVoyager started a thread ISO: PML | 3.5MM | 17.8MM TTM - 17YO Business | 120 day term with 1500 basis points in Business LoansLake Holdings LLC, a diverse enterprise with a 17-year legacy, is offering an exclusive bridge debt facility in connection with the strategic sale of one of our premium assets, named 'Project Ink.' Why Consider This Opportunity? High Return: Secure a substantial return, with a total interest payout of $510,000 on a principal amount of $3.4 million, facilitated by a basis point of 1500. Short-Term Engagement: Tailored to align with the 120-day sale period of 'Project Ink,' this opportunity ensures a quick turnaround, minimizing capital outlay duration. Robust Financial Standing: Lake Holdings boasts a $17.8 million TTM revenue, an SBA 7A loan in good standing, and significant uncollateralized assets that secure your investment. Diverse and Stable: With revenue streams across SaaS, Manufacturing, Advertising, and Government Compliance, our diversified business model underpins financial stability and growth. What’s the Deal? We’re poised to sell 'Project Ink' for between $9 million and $14 million, with advanced negotiations and LOIs already in place. This bridge financing is designed to cover ongoing operational costs until the sale’s completion, offering an accelerated ROI to our lending partners. Tranche Options: Tranches are available if all potential LOI's makeup the 3.4mm+. Solid Repayment Strategy: Repayment is assured through the proceeds from the sale of 'Project Ink,' including a double closing on the same day to ensure immediate and full repayment to our lenders, plus the agreed-upon interest. Join Us in This Venture: Lake Holdings is not just seeking financing; we're offering a partnership opportunity that stands on the bedrock of a solid financial foundation, strategic foresight, and operational excellence. By joining us, you’re investing in a venture with calculated risk and high reward, supported by a company committed to its broader strategic objectives and the success of its partners. Interested in learning more about this unique investment opportunity? Reach out to us for a detailed discussion and let’s explore how we can achieve mutual success. Contact Scott P. at scott.p@lakeholdings.com or Joshua K. at joshua.k@lakeholdings.com for more information and to start the conversation.
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Yesterday, 09:07 PMlol how can you ask for someone solid when you're describing a dog **** file?
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Yesterday, 04:58 PMreaching out to my lender to see if he can do motel and that Fico.
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Yesterday, 04:46 PM"Lenders" Lol.
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Yesterday, 04:40 PMretail shop had previous defaults but has settlement letters was just funded by high risk for 23k looking for a second i haave month to date march someone solid please respond anthony 646 202 0095 anthony@simonsaysfunded.com
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Yesterday, 04:39 PMdailyfunderppt replied to a thread New ISO, Starting my own shop, which lenders would pick me up? in Merchant Cash Advancelol
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Yesterday, 03:37 PMWho are the top few Micro Funders who pay well, have decent buyrates, good term and competive offers and not crazy fees.
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Yesterday, 03:32 PMHey, besides for funder forum and Debanked are there any other MCA events in the states. Thank you
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Yesterday, 03:25 PMI have a borrower looking for a 2nd lien position on a motel in Washington state. As is vale $3m, 1st lien balance $700k fico 600 looking for $250-$300k bridge. Point me in the right direction please
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Yesterday, 03:17 PMElon might be able to help you with that. elon.henek@henekconsulting.com 516-676-1854 516-236-4086
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Yesterday, 03:14 PMAny success with them? This solution looks interesting.
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Yesterday, 03:14 PMParkview Advance // Onboarding New ISO's With the recent void in the market, we are expanding and growing our ISO channel in the B-C paper funding space. Super aggressive offers (especially on dollar amount) and limited back end stips to fund. (AR or CC statement) Email or call if you have any questions and I'd love to chat. Sign up and lets push paper before you see us in YOUR merchants banks. B-C Paper $25,000 MIN $750,000 Max Net 60-140 Days Positions 2nd-5th No Trucking Cheers,
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Yesterday, 03:12 PM:rolleyes:
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Yesterday, 02:49 PMWe're onboarding new ISO's and would love to get competitive. Funding: B-C Paper $25,000 MIN $750,000 Max Net 60-140 Days Positions 2nd-5th No Trucking Give me a call if you have any questions.
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Yesterday, 02:28 PMThey might qualify for contract financing | https://mobilizationfunding.com/contract-loans/
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Yesterday, 02:04 PMAs long as they have 3 trucks on the road and not leased and ok credit at least and good daily balances i can do trucking.
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Yesterday, 01:54 PMI think Micah is spot on.
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Yesterday, 01:30 PMWestwood is good if they do not have factoring in place, Fora is good if it is a first position and an overall clean file. Mantis will offer their 1.48 84-88 days paying 8 points. Vader will cap you at 15k but would go out longer than Mantis. Expansion was my best lender for 1st-4th trucking files but now all of my submissions are declined for "internal score"...
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Yesterday, 12:21 PMBig Mack replied to a thread New ISO, Starting my own shop, which lenders would pick me up? in Merchant Cash AdvanceThe person that posted this probably left the industry 8+ years ago,
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Yesterday, 12:02 PMClarity Advance replied to a thread New ISO, Starting my own shop, which lenders would pick me up? in Merchant Cash AdvanceWe would love to get you and your team onboard with us here at Clarity. We are a solid B - D lender!
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Yesterday, 11:51 AMTeddy Rogers started a thread Myle Advance - Looking for new ISO’s sign up with us today! in PromotionsHi All, My name is Teddy with Myle Advance. We're a High-Risk Funder looking to sign up new ISOS! Check out our guidelines below! • High Risk Funder • Approval Amount $20,000 up to $500,000 • Terms 40/100 Days Max • Previously satisfied defaults (no open judgements) • 2nd - 6th Position Approvals • Origination Fee - 10% • Paying 10 Points • 5 NSF Days • Minimum Rev - 20k Quick Approvals/ Quick Funding!! DEAL OF THE WEEK We just funded a $45,000 (Medical) Feel free to call me or email me so we can discuss getting you onboarded today! Email: Teddy@myleadvances.com Website: https://myleadvances.com/
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Yesterday, 11:44 AMThanks CFG doesnt do trucking anymore at least not for me and capitalize needs 75k plus. I appreciate the referrals tho and will be trying mantis!
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Yesterday, 11:40 AMWhat bank are you a banker at? How much capital is your client looking to deploy? What asset class are they interested in?