Results 1 to 5 of 5
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05-18-2018, 12:49 PM #1
- Join Date
- Apr 2018
- Location
- NY
- Posts
- 21
$3M company with current $1.6M LOC looking for another $150K
He already has an offer from AMEX for an advance, but the repayment is only 12 months. He wants to spread it out over several years.
He wants either a 2nd position LOC or refi the first and cash out an additional $150K.
700 credit.
Looking for suggestions.Pay Per Lead service. No long-term contract. No monthly retainer. Pay only for the leads you need.
BoomBangingMedia.com - because retainers are stupid.
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05-18-2018, 01:05 PM #2
- Join Date
- Jun 2017
- Posts
- 2,049
You have to go Traditional.
LoanMe (which wont be enough dollar amount wise)
LOC from a Bank (Which I am Unfamiliar with
I would do:
Property Deal
Leaseback
**These are assuming they have assets
Try LendingClub
Or someone like Kevin from Seacost
**I stay In MCA Space, a few Term Loans here and there, this is outside my wheelhouse
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05-18-2018, 04:08 PM #3
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
While the suggestions Ryan made are valid, Earnings, FICO score of the guarantor and the collateral on the balance sheet will determine which direction to move forward.
Straight Institutional debt typically wants to be senior secured- so perhaps there is more meat on the bone than the existing line covers for a refi + the 150k. If not some banks provide unsecured revolvers to highly qualified (FICO 720+) borrowers. Even those however typically have a 1 month clean up component- or they term out with P and I.
Feel free to touch base should you want assistance..
RG 516 510 3855
rg@businesscapitalconsultants.com
www.businesscapitalconsultants.com
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05-18-2018, 05:01 PM #4
- Join Date
- Dec 2016
- Posts
- 37
Super G Capital will subordinate with a 2nd lien position if cash flow is suitable for risk model and they are looking for an accretive capital solution.
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05-19-2018, 10:42 AM #5
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
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