Results 1 to 6 of 6
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11-20-2017, 01:54 PM #1
- Join Date
- Apr 2017
- Posts
- 127
looking for 350k, has assets and high revenue
Client does 350k-400k per month. The business is a women's clothing retailer with 3 locations and 2 e commerce websites.
She has about 1.2MM in real estate assets. 1MM from one property and 200k from another.
She is looking for 350k at around 10% not sure if this is something that is realistic or not.
Can anyone point me to a MCA company that lends up to 250k-350k(I know the cost will be over 10%) or a more traditional lender that could possibly use the property to secure the loan, or base an approval off of the revenue.
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11-20-2017, 02:01 PM #2
- Join Date
- Feb 2017
- Posts
- 3,347
If you've never done real estate before, there are a lot of people here who can co-broker these deals with you.
It's a lot of work, and it's worth having someone teach you how to do it step by step.
I'm happy to help. Hard money? 30-year mortgage? Tons of options.
Email me, we can discuss. This is NOT an MCA deal, and NOT a WBL deal.
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11-20-2017, 04:30 PM #3
- Join Date
- Jun 2017
- Posts
- 2,049
We can do Property at Lower than 10% depending on Credit.
Obviously Not Direct. You can Keep Commission from Deal.
And we will split the PSF Sheet...
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11-20-2017, 07:46 PM #4
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Important:
Client has 1.2 in assets- are there liabilities associated with them?
Is the business profitable?
Does she have any other loans?
What is guarantors FICO score?
There are several ways to get 350k for less than 10% but need to know whether it will be a term loan play on business, or a refi on the Real Estate.
Touch base if you would like assistance..
Richard
516 510 3855
www.businesscapitalconsultants.com
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11-21-2017, 01:29 PM #5
If profitable you can try a term loan lender and get under 10% unsecured. No need to use RE for that amount.
Funding Circle
Newtek
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11-21-2017, 01:40 PM #6
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,879
SBA Loans up to 350K in a bit easier underwriting.
Doc's Required:
1. Last 3 yrs bus tax returns
2. 2016 personal return.
3. Last month's business bank statements
4. 2016 affiliate tax return if applicable
5. Lease
6. Current statement for any business debtsDave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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