Results 1 to 8 of 8
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01-27-2018, 12:03 PM #1
Reputation points: 50201
- Join Date
- Jan 2018
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- 353
Group homes/Healthcare Need 300k
Monthly deposit 500k daily balances decent.
Company provides group homes for special needs people.
They have only 4-5 deposit a month from government every Friday.
Looking for ideas of lender for first position. Merchant wants 300k
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01-27-2018, 12:49 PM #2
Reputation points: 86605
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,998
Do they own the homes?
Two possible options - Preferred SBA Lender or Hard Money LoanDave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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01-27-2018, 05:27 PM #3
Reputation points: 16709
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 732
I can help depending on time in business and credit Message you.
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01-28-2018, 01:10 PM #4
Reputation points: 68233
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Afternoon Cashman1,
Our group has had success with several files like this. Typically we will need to see the balance sheet and understand the existing liabilities. The Net receivable (the amount they are paid) is also a large component. If it is Medicare or Medicaid and there is no dilution the clients ask is easily attained.
Please feel free to contact me directly (Richard 516 510 3855) to discuss..
Regards,
RG
www.businesscapitalconsultants.com
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01-28-2018, 02:31 PM #5
Reputation points: 68233
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- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
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01-29-2018, 11:01 AM #6
Reputation points: 14
- Join Date
- Jan 2018
- Posts
- 4
Sent a PM.
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01-29-2018, 11:40 AM #7
NEW HYBRID FUNDING PROGRAMS FOR YOUR CLIENTS NEEDS
Attached is a file that gives you all the details on the checkbook LOC product. Please review it because it is much more thorough than the info below.
In a nutshell :
Checkbook LOCs are Prime+ accounts that are typically coming out at 5-8% right now. 9.5% is the highest we've seen.
- Approval amounts up to 20% of gross, about $150,000 max per lender, with multiple lenders available.
- Requires 2+ year old corporation, 300k/year gross revenues, and anybody that owns more than 20% needs to have strong personal credit
Docs needed for checkbook LOC review:
1. Completed Prequal
2. last year's business tax returns
3. Credit reports for anybody that owns more than 20%
We also need the answers too the following questions :
Checkbook LOC Questions
1. What is the legal business name?
2. What type of business is it?
3. What date was the business incorporated?
4. How many owners are there?
5. Which City & State is the business based out of?
6. Which City & State do each of the owners live in?
7. What were the company’s Gross sales and Net revenues last year?
8. Does the business have any existing LOCs / Loans? If so, please provide details
9. Please provide a credit report of all owners that have 20% or higher ownership
The MAX a bank will lend on a LOC is 20% of gross revenues.
Excellent credit definitely helps.
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01-29-2018, 01:45 PM #8
Reputation points: 10
- Join Date
- Dec 2015
- Posts
- 26
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