Results 1 to 4 of 4
-
08-01-2014, 09:05 AM #1
asset based lending
Worked closely with WBL to get a file done for a farming business utilizing a personal house, paid off, market value of 400k. Have title, morgage statement stating owner is free and clear, and a drive by BPO.
WBL is an excellent company however couldnt reach the dollar amt. Merchant was looking for. Anyone know a lender who would collateralize this house and extend a equity line of credit, hard money loan or cash advance to get this done? Company has few deposits per month 3 to 8, 1 in May, averages roughly 65 to 70k, 530-540 credit so they wont qualify with fanny mae, may did 80k, June 70k, utd july when recieved file on 8th was 93k expecting 200k by end of month.
-
08-01-2014, 09:07 AM #2
asset based lending
merchant is looking close to 100k for the collateralization of the house based off the business
-
08-01-2014, 09:44 AM #3
- Join Date
- Jun 2013
- Posts
- 195
Sorry we couldn't get to the amount he wanted, but the offer still stands if he wants to accept less.
-
08-01-2014, 09:56 AM #4
asset based lending
i know chris, you and i both worked hard on that file. merchant just subborn.
Similar Threads
-
Asset Based Loans
By bruce@bdfunding.com in forum Merchant Cash AdvanceReplies: 4Last Post: 08-21-2015, 04:22 PM -
Asset Based Loans
By bruce@bdfunding.com in forum All Other LendingReplies: 4Last Post: 06-12-2014, 01:35 PM -
Anyone Doing Asset Based Lending on Land?
By vmccapital.com in forum Merchant Cash AdvanceReplies: 6Last Post: 11-30-2013, 01:19 PM -
Asset-Based Lenders?
By Ditty in forum Merchant Cash AdvanceReplies: 3Last Post: 07-12-2013, 12:01 PM