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  1. #1

    Who competes with World Business Lenders

    Hello,

    I have a client who is seeking working capital. They have a home with a good amount of equity. Are their any direct funders that compete with WBL?

    Please let me know, thank you!

  2. #2
    Did you already send it to WBL? There arent really any direct competitors. Lift Forward offers RE collateralized loans, but they are A paper only.

    John Henry is a great guy over there. 212-220-8966 jdasilva@wbl.com
    David Fite
    Director of ISO Relations

    Windgate Capital
    40 Wall Street, 29th Floor, New York, NY 10005
    Direct: (516) 400-2087 ǀ Fax: (347) 708-8699 | Cell: (929)-361-4156
    David@WindgateCapital.com ǀ https://www.WindgateCapital.com/

  3. #3
    Senior Member Reputation points: 81655
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    Quote Originally Posted by CashAdvanceKing View Post
    Hello,

    I have a client who is seeking working capital. They have a home with a good amount of equity. Are their any direct funders that compete with WBL?

    Please let me know, thank you!
    To secure working capital there may be additional solutions available, without placing their homestead at risk.

    Call me @ 1-727-291-7890
    Last edited by Yankeeman07; 03-16-2020 at 01:33 PM.
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  4. #4
    Senior Member Reputation points: 16709
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    A home with equity. Go to your local bank.
    No reason to give a client MCA money on their home.

  5. #5
    Quote Originally Posted by CashAdvanceKing View Post
    Hello,

    I have a client who is seeking working capital. They have a home with a good amount of equity. Are their any direct funders that compete with WBL?

    Please let me know, thank you!
    This is not the primary residence, or if so, is in a state that allows it to be used as collateral?
    What does WBL offer that you need to compete with?

  6. #6
    Senior Member Reputation points: 105
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    WE are a nationwide, top-line revenue driven business lender who utilizes algorithmic processes and collateral real estate to deploy capital in a bridge /mezzanine capacity within 5-7 business day.

    Lending Guidelines:

    Loans are structured based on (creditworthiness, business cash flow and RE collateral). WE will lend in the ranges of $500,000 - $6,000,000+ with terms of 1-4 years and monthly payment options. The rates are as low as 12% for well-qualified borrowers. Minimal documentation, and funding timeline in 5-7 business days.

    Loan Example:

    WE will typically lend up to 20% of business gross revenue (minimum business income $2,000,000) and collateralize the loan with RE utilizing 100% CLTV taking 2nd or 3rd lien position on available equity up to loan amount. Minimum borrower FICO 620 (NO bankruptcies, tax liens or judgments).

    Initial Submission:
    - Application
    - 6-months Bank Statement
    - PFS / Schedule of Real Estate Owned
    - 2018 Business & Personal Tax Returns

    Full-file Submission (necessary for funding):
    - Application
    - 12-months Bank Statements
    - Business Debt Schedule
    - 2018 Business & Personal Tax Returns
    - 2019 YTD Financials (P&L, Balance Sheet)
    - Collateral Real Estate Information (mortgage statement, tax bill, appraisal)

    Would like to ensure WE are utilized as a resource and develop a lending vertical should the opportunity present itself.

    Let me know your availability for a conversation next week

    WE PAY 2-POINTS!!!

    Have a great weekend.

    All the best.

    --
    Sean Najieb
    Business Development Director
    www.myliftloans.com
    180 Maiden Lane, 10th Floor
    New York, NY 10038
    Sean@liftforwad.com
    917.477.6534 (O)
    347.495.8088 (C)

  7. #7
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    70% LTV in 3 to 5 business days 620 score 30 year term 7% to 10.99% Must close in an LLC or Company name No tax returns bring your own appraisal Most any major metropolitan area no paper app! Please advise if 70% will accomodate your WBL deal... Thanks!

  8. #8
    Senior Member Reputation points: 117
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    Quote Originally Posted by CashAdvanceKing View Post
    Hello,

    I have a client who is seeking working capital. They have a home with a good amount of equity. Are their any direct funders that compete with WBL?

    Please let me know, thank you!

    Hello!

    We provide Collateralized loans that are much different than WBL.

    Property Purchases (Mortgage or shorter term), Cash-Out & Rate/Term Refinances on Commercial & Residential Properties, Hard Money, & Term Loans.

    The rates start around 7% APR.

    The term is up to the borrower. Can do 30 years, 15 years, or 2 years, depending on how long they want.

    The commissions are obviously much lower than MCA, but it's definitely still worth getting done. Usually 2-5 points (plus we can charge fees, up to you)

    We would rather make 4 points on a $5,000,000 or $10,000,000 loan than nothing at all because they couldn't get an MCA making 15 points.

    Feel free to reach out if you have questions or want more information!

    DM or Email Info@BesCapFinancial.com

  9. #9
    Senior Member Reputation points: 27980
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    Quote Originally Posted by Red View Post
    Hello!

    We provide Collateralized loans that are much different than WBL.

    Property Purchases (Mortgage or shorter term), Cash-Out & Rate/Term Refinances on Commercial & Residential Properties, Hard Money, & Term Loans.

    The rates start around 7% APR.

    The term is up to the borrower. Can do 30 years, 15 years, or 2 years, depending on how long they want.

    The commissions are obviously much lower than MCA, but it's definitely still worth getting done. Usually 2-5 points (plus we can charge fees, up to you)

    We would rather make 4 points on a $5,000,000 or $10,000,000 loan than nothing at all because they couldn't get an MCA making 15 points.

    Feel free to reach out if you have questions or want more information!

    DM or Email Info@BesCapFinancial.com
    4 points on $10 Million?

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