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another dumb name.

..those three are the easiest to do...

Here are some parameters for business acquisition: Assuming the deal debt services, can finance most CRE purchases at 100% LTV on 7a up to 5MM. They lend based on Prime, but can get aggressive on clean or competitive deals. Have found that a lot of customers will forego a lower rate in order to save on the injection. Rates are case by case, typically 1.0 - 1.5 over Prime, but can get as low as Prime minus 1.50 for the right deal/situation. Have risk-based pricing. Can potentially lend 100% on business acquisitions if the buyer is in the same industry, i.e. one company buying a competitor. Otherwise, 90-95% is typical (subject to cash flow), and can get creative on seller notes, gift funds, and outside investors. Rates are generally 1.50 - 2.00 over Prime, lower on exception. Max loan amount is 9MM on business acquisitions, including 5MM SBA and 4MM conventional. Have the ability to lend fully unsecured where necessary. Closings are 45-60 days, and this lender's process is extremely efficient. Loans are typically approved within two weeks. Ground up construction is fine, including TI's for lessees. Loan amount minimum is 500k for acquisitions/refinance/construction...but he'll look at anything....and maybe do waiver.

+ Amortization, bb.

Never seen em. Probably a broker. There's not many guys actually funding deals with their own $, 100%. Most are going 50 50 with a funder. There's 500 guys saying they're funders who are actually syndicating all their deals with Wynwood and Cedar.

You can send me the package, financials and tax returns on both companies, loan app, bank statements, PFS, proposed purchase agreement, etc. I can have my guy look at it.

He does not have any assets. I told him the SBA would be his best bet. But trying to see if there is anything else out there.

I have a SBA business acquisition lender that can do 100% LTV. Maybe too small but would need to see financials for both businesses, PFS on buyer, Fico, loan app, bank statements on business. Another option - does buyer have any assets we could do asset based lending? Property, equpment, etc?

This is like a wall of shame for members that were banned.

Here some some things to look at when prequalifying... Take their gross revenue on the P & L. Look as see if they have separated officer's salaries from salaries on their P & L, if not have them go back and do that. Take Officer's salaries Look at depreciation Look at interest expense. Take those three - officer's salaries, depreciation and interest expense and add to the net income. That's gives you some indication if they are making money. I've had some files where they show a loss but pulling out those three make's it positive and been able to submit. Then you should know the Fico score. The lender will tell your their etran business score. That will tell you what program you might have this client qualified. The lender can do a basic prequal based on the income as designated above, etran, fico, cash flow and debt service. I have a good relationship with some lenders who will come back to me and say "get them to pay this down on their credit card, raise their Fico and we should be good to go". If they haven't done their 2023 taxes, I can have a lender review their file with me and tell me "Have them file their taxes and then we can submit - looks good". Some SBA lenders will only take out 2 MCA's to a max of $250,000. A couple have no limits. And their guidelines change all the time.

The guy hides his last name and you send him subs. Holy smokes you guys are dumb. You deserved what you got in my opinion for being this stupid.

If it's edge out of Pennsylvania they mainly do **** other then mcas. Maybe they're dabbling in mca these days.

One of these days I will make a list of all the actual funders that ****ers like this white label through. I warned the forum. No one ****ing listens. I don't think I've ever called anyone out on here unjustly. Admin, what did he send you for you not to ban him? A syndication report showing he puts 5% in each deal, but makes 18-20% through fees and upsell, and only pays 8-10 to his brokers, and still makes $ even if his deals default?

That's the most boomer thing I read all day Dave. A tickler file.

If you have a client base that large, I suggest you partner initially with folks to help you. You could make a lot of $$. Micah at abfunders is a good source for bank financing (biz loans loc's etc). Steve benjamin is a good source for real estate and sbas. I've never heard anyone post about Elon henek and having deals funded through him, nor what he pays as a %, but Micah and Steve should be able to make a lot of $ with you. I

Personally a huge fan of having a solid referral base as opposed to outbound. Of course building that base is the trick, lol. I got spoiled in my last position (employee) and forgot what a pain in the ass it is to build/rebuild one.

1.Raw Data 2.Tickler file 3.Suspect 4.Prospect 5.Client Rinse & Repeat, Rinse & Repeat

When it comes right down to it, there are a ton of banks and non-bank lenders that will pay for brokered deals. Most of them don't directly advertise it, you have to ask. Some have a national footprint, others regional or local. Most pay 1-2%, with potential for bumps in volume (volume being funding over a million or more). Smartbiz leverages a number of different banks if you want to have a middle man involved CreditBench/BayFirst was and I assume still is still aggressive for brokers Celtic TAB Huntington Newtek Lendistry Those all lend nationally or have a large regional footprint. There are a bunch of other smaller ones like First National Bank in Indiana M&F Bank in North Carolina United Midwest Savings in Ohio Shoreham Bank in Rhode Island Cadence Bank in Texas I'd say the most common default bank-paid broker fee is 1%. If you can pull down 2% you're doing good. If you work in a specific region I'd try calling or emailing around and you'll likely find some that pay direct. Funding Circle just sold their US business and relinquished their SBA license so unless you're planning on brokering in the UK that's done. As for non-SBA terms the options that I've found are so-so, the requirements are nearly as high as SBA but the terms are worse, rates in the teens-20s or higher and you're maxing out at 5 years, 3 years, sometimes less. Benefit is they're typically faster. Smartbiz has a bank term loan (I forget which bank), Salaryo is one, Fundation, Breakout, Wing Lake for larger deals, and some others. Once you subtract out SBA being a requirement you may do better collecting a PSF and shopping for the client instead where you potentially can find them and a better deal even when paying you a fee out of pocket. And you'll probably make more money.

If you want help with SBA loans reach out as I have several SBA lenders and they have different guidelines and commissions. I have posted this before - if you haven't done these before I don't recommend you try and go direct. I split commissions 50% and have some that allow 2% broker fee and 2% referral fee. I have one bank I use that has funded 25 days from submission. Term loans - SmartBiz has a couple of companies they hook up with - Tab Bank for one. If your file looks like it might qualify for less than $500,000 and uncollateralized, you might want to reach out to SmartBiz and try yourself....they just don't pay as much. Here's the package I like to see: Start with a basic loan application Just click on this link below and complete the application: https://app.hellosign.com/s/JljnpJWp 1. 2023 year end P & L and balance sheet, 2024 YTD 2. 2 years business tax returns 3 2 years personal tax returns 4 Schedule of liabilities form 2202 5 Use of funds summary 6. Fico scores 7. 6 months business bank statements 8. A/P 9. A/R aging 10. Real estate assets How many W-2 employees do you have? Do you own or rent your primary residence What is your monthly payment? Forms below: https://drive.google.com/file/d/15MgYnskrHzZ-NuqTe6c5YA70UgsoxRgN/view?usp=drive_link https://drive.google.com/file/d/14zzlcowStiqpcdE32Hi38mX8ZYIUpT11/view?usp=drive_link https://docs.google.com/spreadsheets/d/1HBEqVr-tbkXYbLFOtbEQP-gsHhy7gVHg/edit?usp=drive_link&ouid=105603638146100170340&rtpof=true&sd=true

I've used them for access to some companies that I didn't meet volume requirements for. I've found them to be great - good communication, very straightforward, and friendly. I don't have anything negative to say about them.

Well this aged well

I did not - I have some direct equipment funders and then went with a super broker for access to the ones that had higher volume and TIB reqs. Software options are a little thin, though.

This thread is almost as juicy as the Peak Solutions one from a few years ago...

If you have a claim, take it to an attorney and sue. :)

This what you do?