Quote Originally Posted by abfunders View Post
I almost arranged a 7-year term loan amortized over 7 years (at 7.5%) for $450,000 for inventory worth around $500,000 once.
Then we pulled business credit, and found out that this guy defaulted on 5 MCAs before he changed his LLC. That killed it. Otherwise, it would have been an awesome deal to re-fi his $100,000/month MCA payouts (total debt of $450,000).

A LOC may be doable for the right business structure and various financials. Doing one now for $4mm term loan plus a $1mm LOC, using their inventory, AR and just about everything else.

BTW, if he's got equity in property and a 620 FICO, LiftForward can do that deal.
Nice Micah congrats.. Is now the time we all get to say how big the deals are we have funded? lol