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01-03-2018, 01:46 PM #1
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- Join Date
- Oct 2014
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Long time client trying to refinance 2.7 Million in debt
Full disclosure, this is a little out of my realm so not sure really if anything can be done here (or if it makes sense to refinance).
I have a client I have been working with for a while that would like to refinance approximately 2.7 million in debt. His goal is to have just one large payment a month and prolong payments to reduce overall monthly amount.
Here is a breakdown on the $2.7 million in debt that he would like to refinance:
1.) Acquistion Loan- Bank Loan: Current Balance: $1,212,000
2.) Equipment Loan- Bank Loan: Current Balance: $389,000
3.) Line of Credit- Bank LOC: Current Balance: $350,000
4.) Commercial Mortgage: Current Balance: $223,000
5.) Commercial Mortgage: Current Balance: $185,000
6.) SBA Loan: Current Balance: $340,000
Business Information
Manufacturer in NY, acquired in 2012, a little over 2 Million yearly revenue, owners FICO approximately 750
I can get any additional information that is needed from the business owner.
Please PM me if you can help! Thank you.
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