[Sachip24]

What lender if any can give actual term loan for a business? 2-5yr terms, monthly payment etc etc? The lender I currently have for this seems to be making offers just to say they made an offer not making actual good offers that merchant will take.

[fin4all]

try credibility capital

[Sachip24]

try credibility capital

they are the ones we currently use lol

[1Loanguy]

has credibly approved anything longer 18 months?

[channin19]

Credibly has a 1.06 buy rate on 3 month terms promotion running. Good if you need a bridge to more traditional financing.

[JMB]

Try Newtek....Newtekone.com , they dont pay much at all but obviously numbers are way better

[Sachip24]

has credibly approved anything longer 18 months?

Credibly and Credibility are two different companies. One is mca one is term loan. Credibility can go out up to 3 years but they tightened up drastically on their guidelines so we have always seen 12-24 terms for past few months on their term loans. Credibly I do not work with anymore but they had a good mca product I don't think they go past 18 months

[RichardGerard]

Newtek is a non bank SBA Lender. They typically pay less than a point on files- but you can charge a fee. Their collateral requirements tend to be higher than several of the other banks we work with- The SBA doctrine states to attach to 'all available collateral', and the US Government typically guarantees 75% of the loan. Some banks/lenders take more risks than others- so Newtek is far from the 'end all be all' relating to SBA loans.

Credibility, Fundation, Funding Circle (or other similar types) tend to underwrite files within 2 weeks- but because the amortization on the notes is 5 years or less- the payments are higher (and harder to qualify for) than many of the banks we work with that provide 7-10 year loans. Accordingly the client can afford more of a loan, & we can bill the client more. It's often a win for all involved.

Simply knowing the name of a lender will not ensure actually being able to close a deal with them. Understanding what makes it a deal they should have interest in (not merely based on monthly revenue and average daily balances- earnings, credit for business and guarantor(s), use of funds, collateral when applicable, client concentration etc.) are things to know about a deal before sending it to a lender/partner. Having a long-standing contact at that bank/lender- that knows the files you send have substance- is always a powerful tool to have in your arsenal.

Time is the biggest enemy an ISO fights. Not knowing where to send a deal, or who to send it to is the reason why commissions aren't earned, and if they can't place it someone else will. In many instances, splitting revenue with folks that are experienced will not cost money- but rather earn money for respective ISO's, and allow them to focus their core business.

We are closing a $7.5M revolver/term note combination this month- on a hard to place deal- with challenging collateral, that our partner ISO will earn 6 figures on. Should you wish for assistance on deals, feel free to touch base.

Richard Gusmano, Founder & CEO

Business Capital Consultants Corp
3237 Rt 112 Suite 9
Medford, NY 11763
rg@businesscapitalconsultants.com
Office: 631-880-7501