[jeffcapital]

Have a client with 300K in 3 advances .... Deposits is 450K per month
Mid 600 ficos
Restaurant

Has Real Estate 2 properties Owes mtg 450K and has 500K equity total between both of them ( But also have SBA lien on both properties )

net zero consolidation??? may be willing to take more capital with consolidation

Anyone???
Thoughts ????

[abfunders]

Are the properties free-standing restaurants?

[jeffcapital]

both residential properties....One is his primary residence

[gerayin]

Where have you shopped this already?

[abfunders]

Getting a cash-out re-fi on the investment property is easy.
30-year amortization, up to 75% LTV, depending on creditworthiness.
Shoot me an email, we can get the deal done. They can close in as few as 3 weeks.
More work, but rates well under 10%, terms going out, like I said, 30 years.

[jeffcapital]

Getting a cash-out re-fi on the investment property is easy.
30-year amortization, up to 75% LTV, depending on creditworthiness.
Shoot me an email, we can get the deal done. They can close in as few as 3 weeks.
More work, but rates well under 10%, terms going out, like I said, 30 years.

most of equity is in primary not investment....

[abfunders]

most of equity is in primary not investment....

"Most" - Is it worth it to re-fi out of the investment property? The only want to know is to try. Whatever it takes to knock down the 300 to 200, and if you have net 50% you open up other MCA consolidations aside from the reverse. I'm sure you've searched on DF about the reverse consolidation?

[allison]

Have a client with 300K in 3 advances .... Deposits is 450K per month
Mid 600 ficos
Restaurant

Has Real Estate 2 properties Owes mtg 450K and has 500K equity total between both of them ( But also have SBA lien on both properties )

net zero consolidation??? may be willing to take more capital with consolidation

Anyone???
Thoughts ????

Power Funding would love to check the banks out and see if we can help. Shoot me an email allisono@powerfunding.com Our terms go out to 15 months!

[RichardGerard]

Have a client with 300K in 3 advances .... Deposits is 450K per month
Mid 600 ficos
Restaurant

Has Real Estate 2 properties Owes mtg 450K and has 500K equity total between both of them ( But also have SBA lien on both properties )

net zero consolidation??? may be willing to take more capital with consolidation

Anyone???
Thoughts ????

So client owns a restaurant that has an SBA loan- THEN has taken 3 advances on top of it. Since restaurants have no real assets (the equipment is cheap and depreciates swiftly), the SBA locked up all of his personal assets with a 504 or 7a.

Since he likely is paying more than 50k per month to advances, chances are merchant is not profitable. The issue is not total equity, it's the LTV on each.. Likely note much to attach to.

Taking on more debt seems like the last thing this merchant should be doing