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11-25-2017, 06:38 PM #1
Large Construction Company $5M term loan
Larger construction company doing 50M annually. Looking for term loan or LOC for $5M
They deal with larger commercial entities.
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11-26-2017, 01:31 AM #2
- Join Date
- Feb 2017
- Posts
- 3,463
(1) Contractor or sub-contrator?
(2) What state?
(3) What's the credit?
(4) What's the collateral? RE? Equipment? A/R?
And something I have noticed time and time again:
(5) What is the current debt? Are there UCCs filed?
Companies like this generally have a few large LOCs with UCCs filed and most lenders for large amounts like this will likely need first position.
Get more information, you/we will get a better picture of what type of deal can be done.
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11-26-2017, 10:58 AM #3
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Additionally:
Progress Payments?
Paid when paid?
Is there a performance Bond?
Who are the clients?
At roughly $4M per month the AR is likely between 6-8M. It is possible to have an ABL for $5M however because of payer risk and Milestone's need to know the whole picture
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11-27-2017, 09:34 AM #4
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
Mobilization Funding Program may be helpful here.. it's short term.. but works well to provide advance funding until merchant gets paid on the contract.
Shannon Harris
Funding Specialist
888-705-8818 phone
239-790-2664 fax
Shannon@StellarBusinessFunding.com
www.stellarbusinessfunding.com
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