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  1. #1
    Senior Member Reputation points: 5036 DiamondBL's Avatar
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    Beverly Hills, CA
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    2016 30 Mil+ Gross with Profit / Term Loan Option

    We have a pretty strong client-
    FC won't touch since TR NCS code states Wholesale- but actual online retailer. Strong owners(great credit and Personal TR's)/strong financials.
    Extremely frugal.
    FC 5 Year term would have been great. Only other debt is an LOC with bank that they want to leave in place and not touch.
    Open to solid suggestions. We are CFL/BRE and deal is CA. No Real Estate to be used.

    Thanks,
    Jonathan Kohanoff
    B.R.E. #01962090

    Diamond Business Loans
    Beverly Hills, CA 90211
    jon@diamondbl.com
    www.DiamondBL.com

  2. #2
    Senior Member Reputation points: 14335
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    Sent you a PM.
    Joseph Boyle
    Skyline Funding
    Joseph@Skyline-Funding.com

  3. #3
    Senior Member Reputation points: 68233
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    Quogue, NY
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    Jonathan,

    Since the client already has Senior Debt in place with their Bank their Financials and Balance Sheet will determine if a lender will subordinate- and for what cost.

    Online retail can be a margin play since they eliminate the wholesalers. Their location, inventory & machinery and equipment- will determine which bank/lender will want the file. We work with Family Offices and Gap Piece lenders that might like the deal in the event they can attach to something in the event of a default.

    Lastly: as I've seen this quite often lately- I would want to see if the Bank actually filed a UCC. If the client is earning and there are assets on the balance sheet- there are ways to get this done.

    Richard

    Direct 516 510 3855

    www.businesscapitalconsultants.com

  4. #4
    Senior Member Reputation points: 5036 DiamondBL's Avatar
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    Beverly Hills, CA
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    Thanks for your message-
    Really looking for someone/somewhere like FC -
    The deal would have been closed on their platform with flying colors.
    Assume the UCC is already there (because why wouldn't it)
    Great financials and balance sheet.

    Need good pricing, this is what that would look like:
    Value of Loan $500,000
    Origination Fee (5.99%) $29,950 (3 for FC 3 for us)
    Borrower Net $470,050
    Interest Rate 8.25% to 18.9%
    Monthly Payments $10,198 to $12,943
    Term 60 months
    Total Cost * $611,888 to $776,567

    We can budge a little on cost/rate/fees but not much~
    Jonathan Kohanoff
    B.R.E. #01962090

    Diamond Business Loans
    Beverly Hills, CA 90211
    jon@diamondbl.com
    www.DiamondBL.com

  5. #5
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    Chicago
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    Sent you an email.

  6. #6
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    Los Angeles
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    If the customer is in California lendistry should be able to do it up to 1MM but they will want to be first position. and you will literally die by stips.

  7. #7
    Senior Member Reputation points: 50566 ADiamond's Avatar
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    New York City
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    890

    Quote Originally Posted by DiamondBL View Post
    We have a pretty strong client-
    FC won't touch since TR NCS code states Wholesale- but actual online retailer. Strong owners(great credit and Personal TR's)/strong financials.
    Extremely frugal.
    FC 5 Year term would have been great. Only other debt is an LOC with bank that they want to leave in place and not touch.
    Open to solid suggestions. We are CFL/BRE and deal is CA. No Real Estate to be used.

    Thanks,
    Lendvo is actually great for any type of web-based business. Try them
    Anthony Diamond
    Underwriter

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