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02-19-2019, 11:39 AM #1Senior Member
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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
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02-19-2019, 12:24 PM #2Senior Member
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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
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02-19-2019, 01:18 PM #3Senior Member
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yeah i understand
Originally Posted by omegafund
I put my contact info in here, and
was bombarded with spam from funders
if you need to reach me PM me
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02-19-2019, 01:24 PM #4Senior Member
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Yo. How much is their current line - how much did they use of it already? Originally Posted by skideeppow
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
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02-19-2019, 01:44 PM #5Member
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If they are B2B or B2G only, Internex Capital offers a LOC up to $5mil that would fit perfectly here.
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02-19-2019, 02:03 PM #6Senior Member
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Retail business, b to consumer Originally Posted by FroFunds
I put my contact info in here, and
was bombarded with spam from funders
if you need to reach me PM me
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02-20-2019, 01:55 PM #7Senior Member
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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
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02-20-2019, 02:10 PM #8Senior Member
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How do their financials look?
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