Auto Dealership / 250k-500k LOC / 832 score
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  1. #1
    Senior Member Reputation points: 1232
    Join Date
    Jan 2017
    Posts
    116

    Auto Dealership / 250k-500k LOC / 832 score

    Scenario:

    TIB: 15 years
    TOB: Auto Dealership
    ST: Georgia
    AMT: Wants 500k Line of Credit
    PURPOSE: Expand business-New inventory
    CREDIT: 832
    OTHER DEBT: Has a commercial line of credit with his local bank.
    Income: $900,000 p/year
    R/E/Assets: Own business location. Mortgage balance is $800,000. Value Estimate: 2.7M


    Looking for true revolving LOC --- looking for traditional bank terms or close to it as possible

  2. #2
    Veteran Reputation points: 135672 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,187

    with that kind of volume and score....why is there no floor plan to tap into?

  3. #3
    Senior Member Reputation points: 7360
    Join Date
    Aug 2015
    Location
    Boulder, CO
    Posts
    755

    CFS -

    With that credit, property worth $2.7MM and $800k balance, it is highly likely I can get him the $500k he needs, with single digit rates. I would need to refi his existing mortgage and provide cash-out on top.

    Please feel free to reach out and discuss.

    FYI: I'm going to the Pitbull conference so will be traveling Monday and Tuesday, returning to the office on Wed.

    Thanks,

    Dan Page
    Boulder Equity Partners
    Direct: (303) 938-8280
    dan@BoulderEquityPartners.com

  4. #4
    Member Reputation points: 10
    Join Date
    Feb 2023
    Location
    New York
    Posts
    7

    Hello,

    Please send me an email and I'll send you info. Thank you!



    Lily Taylor,

    Funding Director


    | Office | (646) 582-8933

    | Cell | (917) 470-2274

    | Fax | (888) 894-3518 or (212) 706-0117

    | Email | LMartin@ProsperumFunding.Com

    8 West 36th Street, Floor7 | New York, NY 10018

    ProsperumFunding.Com
    Last edited by ProsperumCapital; 02-24-2023 at 02:34 PM.

  5. #5
    Senior Member Reputation points: 72398 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,244

    2017..Really?
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

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