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02-14-2018, 06:03 AM #1
Reputation points: 231
- Join Date
- May 2016
- Posts
- 29
Need Large Credit Line For Outdoor Living Business
We helped client get two SBA 7a loans in a period of two years. $7m revenue, $500k net income in 2017. SBA loan 1 is $350k, SBA loan two is $900,000. SBA loan 2 was for launching new city. FICO is 760. So new lender will have third position in the main entity.
Client is growing super fast and is looking for a legit low cost credit line to deal with seasonality and high demand. Any recommendations? Need a banking product. Bluevine, Fundbox won't do. Looking to work with a direct lender or someone with a good track record.
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02-14-2018, 07:30 AM #2
Reputation points: 68233
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Morning Sean,
What is the client leveraging that has not already been pledged?
Term loans- while attractive at very competitive rates- are often not really the right solution for a client that is in aggressive growth mode.
Depending on the Financials and Business sect there are options...
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02-14-2018, 09:46 AM #3
Reputation points: 227883
- Join Date
- Feb 2017
- Posts
- 3,455
You said the industry - who does he bill?
Unsecured LOC is definitely the right option.
Richard has options, I have options. Email or PM me, I can explain what I have to offer and make some introductions for you, let's see if you can get it to work.Last edited by abfunders; 02-14-2018 at 09:48 AM.
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