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04-21-2018, 10:19 AM #1
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Sean, you're a great guy- and we get along. However as relates to this: the folks at Lendistry have demonstrated on a recent deal that they're not sure if they want to lend- or if they would prefer to act as an intermediary. They took 4 weeks to NOT do a deal for 250k over three years- that we are closing for 350k over 10. Their Underwriter was falling all over assets- while not paying attention to 500k in AR, and a client with a NOI of 300k from 2017!!! Not a clue. As for Ms. Perez- she tried to step in and assist- but was far from pleasant. If the SBA is faster than them- I can't fathom a situation where they would be useful- especially if they have a 3 year amortization as opposed to 10!
We have had considerably more success dealing regular banks, ABL's, and the Government -on term loans- than any of the folks mentioned. If however you are looking for subordinating debt, the folks mentioned previously might be able to help..
RG
www.businesscapitalconsultants.com
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