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  1. #1
    Member Reputation points: 2813
    Join Date
    Apr 2016
    Location
    Miami, FL
    Posts
    54

    SBA and Lines of Credit!

    Business Express Loans:

    These are non-SBA loans and lines of credit up to $500,000. They can fund in as little as 1-2 weeks and require you have an existing business with revenue. We have a large network of non-bank, secondary market lenders, and we know what requirements they need met in order to approve and issue funds. We will pre-qualify and package your application, then walk you through the entire process to funding.

    SBA Loans:

    Looking to buy a business or take your profitable business to the next level? Established businesses with tax returns that show good cash flow can get extensive funding. All come with incredibly low interest rates of 6%-8% and generous payback terms of 10 – 25 years. Our processing team will hold your hand from packaging to funding. SBA Loans typically take 2 weeks – 2 months to fund but they offer the highest loan amounts and best interest rates.

    Each Underwriter that we have specializes in different industries / deals and each have different Underwriting guidelines. We now offer weekly, monthly, and quarterly payback options, depending on what's best for your business!

    How to get started:

    Request your ISO agreement and send back with the following:

    (1) Voided Business Check
    (2) W9

    I look forward to starting a prosperous long-term business relationship with both you and your firm and making a lot of money together. If you have any questions feel free to e-mail me or call me.
    Krystal Diaz
    President
    Diamond Capital Finance
    Email: krystal@diamondcapitalfinance.com
    Direct: 305-741-4608

  2. #2
    Member Reputation points: 2237
    Join Date
    Sep 2017
    Location
    Scottsdale, AZ
    Posts
    36

    I have a client here in Phoenix who owns a restaurant with $4MM in revenue. He’s not interested in any advance type programs but wants a line of credit instead. Any ideas of a program that would work for him? Thanks in advance for your help.

  3. #3
    Senior Member Reputation points: 68233
    Join Date
    Dec 2014
    Location
    Quogue, NY
    Posts
    1,108

    GIGATT50,

    Restaurants are challenging entities to secure LOC's for. If they don't want a revenue credit instrument, what exactly can you leverage? The equipment depreciates down to nothing, the inventory is perishable, there are no receivables, and unless the restaurant owns it's building, there are no assets on the balance sheet other than the walk in box, and leasehold improvements.

    Understanding businesses, not just the products that are allegedly available in the marketplace, is the key to not spinning your wheels when clients make unreasonable requests.

    A restaurant doing 40-50k per week is a nice business- assuming they are making money. A local bank will likely be someone motivated to work with them- for the deposits alone...

  4. #4
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Richard is certainly right as far as secured LOC is concerned.

    The alternative question is if the client wants something unsecured, the client needs to have excellent personal credit to be a guarantor. What's the client's credit? Are there many owners? How is their credit?

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