Printable View
We have a doctor located in California that is seeking a Term Loan of $1.7M with a (5) year term. The yearly revenue of the doctor is $5M with a high credit score. This would not be a traditional MCA type deal, but rather a structured Term Loan. Factoring would not be an option, and would prefer an unsecured product. The money would be used for real estate an well as other investments.
Howie Dane
President
Funding Sources for Business
president@fundingsourcesforbusiness.com
(847) 831-4118
Easy SBA if they have the scores.Quote:
Originally Posted by FSB
Thanks, but the SBA is balking at the use of funds.
Well that's the broker's job to educate the client on how to structure the proceeds to the bank and manage expectations to the client. Unsecured real estate loan does not exist.Quote:
Originally Posted by FSB
If they are looking for some of the proceeds to be used for RE, then I would assume that it would be for a medical office.
You can easily wrap that request under a 7(a) and they would be able to acquire the RE with no money down.
If you bank does not like working capital loans ( most don't ) then a vague proceeds of capital is always going to get turned down.
Id say funding circle if the financials look good
Gemino has $1MM monthly revenue requirement. Alleon Capital would be able to work with <$1MM/month for heathcare factoring.Quote:
Originally Posted by NickHubbard
Aquina Health can go out 24 months on healthcare businesses.
BHG would be a good option for a true term loan.
Let me know if you are still trying to fund this deal. I work with a few private investors that like RE transactions.
Best,
BHG would be my first guess. At Alleon we are AR focused which it seems is not what the doctor wants. If you need an intro at BHG, let me know.