[The Price is Right]

I have a merchant with 2 open positions looking for an SBA loan he was funded over 500k between the 2 positions.
He is looking for something with a longer term and better rates. If anyone who is a direct lender can help me broker out this deal as an SBA or can give me an approval please let me know and We can get working together ASAP.
Already got approved by IOU and Qaurterspot so dont reach out to try and broker this deal thinking you can get me a longer term than what I already have.

[Kevin Henry-Seacoast]

I have a merchant with 2 open positions looking for an SBA loan he was funded over 500k between the 2 positions.
He is looking for something with a longer term and better rates. If anyone who is a direct lender can help me broker out this deal as an SBA or can give me an approval please let me know and We can get working together ASAP.
Already got approved by IOU and Qaurterspot so dont reach out to try and broker this deal thinking you can get me a longer term than what I already have.

Hi The Price is Right,

What industry? Have you considered doing an ABL facility? A company billing $1Mil/Month is likely to have $1.5Mil to $2Mil in receivables outstanding. If they have equipment and inventory it might be included in the line. Kevin.Henry@SeacoastBF.com www.seacoastbf.com a division of seacoastbank.com

[The Price is Right]

construction, and he does not have a property for an ABL

[brokerCompany]

Kevin will not touch construction. Have you tried Fundation or Lendistry? Fundation is small on amounts so unlikely to get 500k

[Kevin Henry-Seacoast]

construction, and he does not have a property for an ABL

The Price is Right,

Unfortunately we cannot finance construction companies. For future reference, most ABL lenders do not include real estate in the borrowing base. Most will include receivables, inventory, and M&E.

Best,

Kevin

[WestCoastFunding]

How much A/R do they have?

[Sachip24]

If overall financials are good P&L and balance sheets take to Credit Cash. They do 1-2-3 million dollar deals 3-5yr terms, monthly payments. Merchant has to be doing a minimum of 3mill a year and again financials must be sound.

[Christian]

Send it to SmartBiz. If you're not approved with them, we are.

[The Price is Right]

1.2 mil in work waiting to be paid on as per his most recent ar report

[The Price is Right]

can you provide me with there information

[RichardGerard]

I have a merchant with 2 open positions looking for an SBA loan he was funded over 500k between the 2 positions.
He is looking for something with a longer term and better rates. If anyone who is a direct lender can help me broker out this deal as an SBA or can give me an approval please let me know and We can get working together ASAP.
Already got approved by IOU and Qaurterspot so dont reach out to try and broker this deal thinking you can get me a longer term than what I already have.

Smartbiz specializes in SBA Express and/or 504's (Real Estate). Since the client took 500, what is actually owed? This likely outdistances their Cap.

Depending on location, earnings, Guarantor FICO, and collateral there are several options.

Richard 516 510 3855

www.businesscapitalconsultants.com

[RichardGerard]

Lastly: We have partners that can provide a LOC off Construction receivables- as long as they are a subcontractor- not GC. Prefer clients doing over 500k per month..

RG

[Elliot_Kay]

Im interested in a third position elliot@acefundingllc.com

[seanedeska]

I can help with this one. Please check out GoSBALoans.com.

What state is this in?

[Christian]

Smartbiz specializes in SBA Express and/or 504's (Real Estate). Since the client took 500, what is actually owed? This likely outdistances their Cap.

Depending on location, earnings, Guarantor FICO, and collateral there are several options.

Richard 516 510 3855

www.businesscapitalconsultants.com

SmartBiz does not offer 504s or Express loans. They only offer 7(a).

[HDF]

SmartBiz does not offer 504s or Express loans. They only offer 7(a).

You might want to fact check that.

[RichardGerard]

SmartBiz does not offer 504s or Express loans. They only offer 7(a).

I believe you are mistaken Christian, check site: the 504 is the Commercial Real Estate Purchase or Re Finance program that they mention up to $5M.. The SBA 7a EXPRESS is their main product that does not require dollar for dollar collateral- and caps at 350k. Traditional 7a's go up to $5M without a real estate purchase or refinance (up to 5.5 for manufacturers), yet require collateral (M&E, Inventory etc.)- and are considerably more time intensive than EXPRESS. Wanted to clear that up..

[Christian]

I believe you are mistaken Christian, check site: the 504 is the Commercial Real Estate Purchase or Re Finance program that they mention up to $5M.. The SBA 7a EXPRESS is their main product that does not require dollar for dollar collateral- and caps at 350k. Traditional 7a's go up to $5M without a real estate purchase or refinance (up to 5.5 for manufacturers), yet require collateral (M&E, Inventory etc.)- and are considerably more time intensive than EXPRESS. Wanted to clear that up..

I'm not mistaken. They only offer 7(a) loans for both working cap and real estate. They do not even offer the express product. See this link: https://www.smartbizloans.com/faq

"What types of SBA loans does SmartBiz facilitate?
We facilitate SBA 7(a) loans for working capital, debt consolidation, and equipment purchases as well as SBA 7(a) loans for commercial real estate purchases or refinance."

I have funded many deals with them. I assure you, no Express, and no 504. Call them and ask if you want (they will tell you they fund 7(a)s faster than other lenders fund Express).

[RichardGerard]

You're correct. I have since verified they are not working with various SBDC's, and only doing 7a's. My apology.