[Mynameisbob]

I Have dental OFFICE DOING 300k IN NET PROFIT. COMPANY HAS ONE ADVANCE THAT DROPS OFF IN MARCH.

Tried to apply for SBA loan but got declined due to personal credit. The client does not have any tax liens, judgements, or BKs.

I need a lender that does term loans. NO MCA's.

I have full docs!!

[omegafund]

What is the credit score?

[abfunders]

Did you try either factoring the insurance companies receivables?
Did you try Breakout?

[RichardGerard]

I Have dental OFFICE DOING 300k IN NET PROFIT. COMPANY HAS ONE ADVANCE THAT DROPS OFF IN MARCH.

Tried to apply for SBA loan but got declined due to personal credit. The client does not have any tax liens, judgements, or BKs.

I need a lender that does term loans. NO MCA's.

I have full docs!!

Hey Bob..

Depends on the SBA product applied.. Express has a stringent 650 cut off- whereas we have gotten 7A's approved with 560 (and an explanation).

As for term loans: there are a few other options.. Feel free to touch base..


Richard 516 510 3855

www.businesscapitalconsultants.com

[seanedeska]

Easy one to fund with an SBA loan if you go the right lender. What is the credit score? I can do this one. The advance can be refinanced.

check us out: https://gosbaloans.com

The dental practice we just closed with an SBA loan had a 600 credit and a prior bankruptcy.

[Yankeeman07]

I Have dental OFFICE DOING 300k IN NET PROFIT. COMPANY HAS ONE ADVANCE THAT DROPS OFF IN MARCH.

Tried to apply for SBA loan but got declined due to personal credit. The client does not have any tax liens, judgements, or BKs.

I need a lender that does term loans. NO MCA's.

I have full docs!!

I work with 3 SBA Banks - Each Bank has their niches

Example - One Bank Niche Market is Express $125,000 Business Loans

10 Year Term
7.25% Interest*
*Variable, WSJ Prime plus 2.75%, Currently 7.25%

They have approved loans that other Banks have declined.

Call me

[RichardGerard]

Hahaha..

Everyone is pounding their SBA chests today.

Bottom line: if the client has enough collateral, and earnings that will be augmented by restructuring debt- there will likely be a way to get it done. It's not Rocket Science.

Having contacts that can put out Letters of Intent swiftly, and relationships that can assist in the Underwriting process when documentation isn't perfect- goes a long way to closing deals that would not be closed. The amount of SBA Banks you work with- honestly- is meaningless.

We work with several local banks in the NY Metro Area that all do SBA Loans- along with the folks that do SBA Express, and the Non SBA Banks that package and aggregate. What does that mean?

Knowing how the collateral is viewed, and knowing which path to take with a client (SBA, Asset Based Lender, Hedge Funds, Mid Prime Gap piece, Mezzanine, Bridge funding etc.), and also understanding the clients business- is what differentiates advocates.

I'm sure the folks on this thread will agree that just knowing the name of a product, or the name of a lender, doesn't mean you will be able to get a deal done with them.

[RichardGerard]

Lastly on this case:

So obvious- since SBA 7A Express does not require collateral- their credit guidelines are more stringent than a traditional 7A.

Client applied for wrong product.