[MACK125]

I have 2 merchants they are just short by 20-30 pts of 650 fico score for Smart Biz SBA loan they both do over 7 million a year in gross sales ant other SBA Lender that can help?

[@jeannette]

Depending on where the client is located Synovus may be able to help.

[abfunders]

Who says that an SBA is best? It's horrible for working capital. Maybe factoring is better? Or a combination ABL + Term loan is the right solution? I'm working on some of these types of deals now.

[RichardGerard]

Mack-The Program that Smartbiz focuses on is a 'collateral light' product. Accordingly guarantor credit needs to be a larger part of the equation. If the client has hard collateral (not just Real Estate- think Machinery and Equipment, Inventory, in addition to commercial and residential real estate), the FICO score can be lesser (we have closed loans with FICO scores in the 500's).

Micah-SBA loans are not horrible for working capital IF the client is not in all out growth mode. If the business is in a steady cycle of growth a 10 year loan for 350k at a little more than $4000 a month is not a bad thing at all.

The client also may not have AR and/or be billing clients in advance for licensing (think Software/maintenance/Advertising), and/or have no assets other than IP. Each deal needs to be analyzed for what it is- and understanding the business helps to understand what to do to help the client.

Feel free to touch base if you would like assistance.

RG 516 510 3855

rg@businesscapitalconsultants.com

www.businesscapitalconsultants.com