Results 1 to 8 of 8
-
02-19-2019, 11:39 AM #1
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
Looking for $4-$5 mill LOC Retail business
I have a retailer that is currently paying around 14% for a line that is not really working for them.
They do between $18-$22mill a year in gross sales.
Amy suggestions would be appreciated. And i am looking for direct lenders, not to broker this from another broker.
ThanksI put my contact info in here, and
was bombarded with spam from funders
if you need to reach me PM me
-
02-19-2019, 12:24 PM #2
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 730
messaged you one of the banks we use for those larger deals. Good luck lots involved and if you are not prepared or client is not prepared these deals can disappear after weeks of work
-
02-19-2019, 01:18 PM #3
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
-
02-19-2019, 01:24 PM #4
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Yo. How much is their current line - how much did they use of it already?
14% is a lot - agree. BUT why
I know you dont want to broker funder broker - in this scenario you need to work with someone who is to get to the right outlet - I will let you do everything direct because obviously you are an OG in a sense and I am sure you aren't going to text the direct lender 100x over the next day asking for a contract.Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
-
02-19-2019, 01:44 PM #5
- Join Date
- Nov 2018
- Location
- San Diego, CA
- Posts
- 75
If they are B2B or B2G only, Internex Capital offers a LOC up to $5mil that would fit perfectly here.
-
02-19-2019, 02:03 PM #6
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
-
02-20-2019, 01:55 PM #7
- Join Date
- Apr 2016
- Posts
- 103
Skideepow,
In the secondary market at an interest ONLY payment of 14% is actually decent. If they are looking for lower rates, should consider a bank (if they qualify). WE are typically in the 12-14% range as a factor, but would be a lateral move for the borrower. The only benefit I could see is that WE will lend 10% of GROSS revenue on a true revolving Line of Credit so, with collateral Real Estate WE could get close to $2.2MM.
Let me know if YOU would entertain a conversation surrounding this request.
Sean
-
02-20-2019, 02:10 PM #8
- Join Date
- Oct 2016
- Posts
- 4,318
How do their financials look?
Similar Threads
-
Vape retail business
By skideeppow in forum Deal BinReplies: 2Last Post: 05-31-2018, 02:48 PM -
Have new retail business in business less then a year
By dan@cdm.ms in forum Business LoansReplies: 5Last Post: 03-28-2017, 11:22 AM -
Need loan from $20k to $50k for Online Retail Business
By cashadvancer in forum Deal BinReplies: 0Last Post: 12-04-2014, 02:00 AM -
Seeking best underwriters for retail business scenario
By bostriba in forum Deal BinReplies: 0Last Post: 07-03-2014, 02:13 PM -
Um, so... New Business doing 35-40k in retail; no storefront, no business bank acct
By Quickfunder in forum Merchant Cash AdvanceReplies: 9Last Post: 01-30-2014, 04:07 PM