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Just checking to see who can do this deal with the following stat:
Junk removal company: 2 years TIB; $12k/mo revenue; 650 fico. Needs $25k for expansion and needs monthly payment.
I know that the monthly revenue might be seen as low to some, compared to the requested amount, but the industry that he's in is growing rapidly, and he wants to position himself for growth.
Let me know if you can do this.
Wouldn't equipment finance make sense here? If so, try Slim, and there are a few others who can do it as well.
40 more points on his credit and this could be an SBA Bolt deal. Up to $40k (based on $144k top line), 10 years, monthly payment, 0 prepayment penalty. Try seeing what's up with his credit. Recommend Experian Boost (which adds utility bill payment history). I've personally seen a score go up 80 points in minutes. Seems like he's right there...
Would love to take a further look at this over at Slim Capital!
Give me a call 949 342 7677
Email: greg@slimcapital.com
Micah, just now seeing this! Thank you for the reference!Quote:
Originally Posted by abfunders
Hey Greg. Thanks for your interest. I'll reach out to you shortly.Quote:
Originally Posted by GregSlimCapital
Hey Micah. I had discussed asset-based and equipment financing, as well as other options with him. He wants the funds to cover a couple of different facets of his operation, such as payroll, marketing and equipment. So the options mentioned would not work for him. Thanks for your input and help.Quote:
Originally Posted by abfunders