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06-25-2018, 07:02 PM #1
Looking for a 1.10-1.14 rate credit score over 700
Greetings!
I have a construction Company who does 600k monthly sales. He has excellent credit and looking for 200k-300k ACH. Because of his excellent credit he's requesting a very low rate of 1.10-1.14. If this fits any ones wheel house let me know. Happy Funding!
Best,
Kevin Granville
Merchant Capital Lenders Inc.
cell 516-903-7156
Office 646-480-7055
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06-25-2018, 08:20 PM #2
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
noone will do that low of rate but cancap, and due to being construction your guaranteed 1.24 buy rate and at 1.10- do you think you will make 3,000.00 on a 300k mca?
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06-25-2018, 09:45 PM #3
The highest rate the customer would go to would be a 1.18.
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06-25-2018, 10:35 PM #4
- Join Date
- Oct 2016
- Posts
- 4,318
Wells Fargo.
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06-25-2018, 11:53 PM #5
Just FYI, Td Bank is doing 36 month signature business loans under $100,000 - 9.99% for anyone with a 650 credit score and a minimum of 500k annual in sales. I have clients getting them quite often. ( Business must be located in a TD service area)
Last edited by Jstarr; 06-25-2018 at 11:55 PM.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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06-26-2018, 08:51 AM #6
- Join Date
- Feb 2017
- Posts
- 3,468
Why can't you get him a good factor? That should get you in the range of a 1.12-1.14 cost to capital.
Alternatively, WCF and Jerry are right - you can take him to the right bank, and make money. The trick is knowing how to monetize the bank, that's all. I'll try to reach out to you.
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06-26-2018, 09:15 AM #7
- Join Date
- Jun 2017
- Posts
- 2,049
Rapid has done a 1.12 before, on renewal and paid 1 point.
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06-26-2018, 09:34 AM #8
- Join Date
- Jun 2015
- Posts
- 3,326
there are plenty where you can get a 1.10 buy rate for a 6 month deal .
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06-26-2018, 10:55 AM #9
Breakout can get you there, and National if they go shorter term
Eagle Funding Group
Phone: (646) 793-6809
Email: info@eaglefundinggroup.net
Web: www.eaglefundinggroup.net
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