Results 1 to 10 of 10
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10-15-2019, 03:46 PM #1
- Join Date
- Jul 2019
- Posts
- 17
I have a merchant w/ 3MCa's approved for a collateral loan w/WBL for $85K Need 2k mca
I have a merchant with 3 MCA's pays $475 a day $19K to $24K deposits they own' two properties I got them a collateral deal for $85K from WBL , Im lookinsomeone to do a small advance for $2K, $1,565 will go to cover the upfront fees to WBL they will be funded within 14 to 21 days the $85K @ 1.50 40 days $3K payback and a
( $1K bonus ) Its a short term good deal !
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10-15-2019, 06:03 PM #2
- Join Date
- Mar 2019
- Posts
- 95
WBL takes a fee upfront?
Why isn’t that included simply as an origination fee like everywhere else?
If they qualify for a hard money loan may as well go elsewhere and no need for the 2k.
Not necessarily pointed at you OP just commentary.
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10-15-2019, 06:19 PM #3
- Join Date
- Jan 2014
- Posts
- 1,378
merchant is using his collateral for one hard money advance and needs another advance to pay the upfront fees for the first advance?
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10-15-2019, 07:42 PM #4
- Join Date
- Mar 2019
- Posts
- 95
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10-16-2019, 12:42 PM #5
- Join Date
- Jan 2014
- Posts
- 1,378
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10-16-2019, 12:51 PM #6
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 730
Lots of hard money guys ask for fees upfront though I would not consider WBL a true real estate lender.
Location and type of properties?
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10-16-2019, 01:45 PM #7
- Join Date
- Mar 2019
- Posts
- 95
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10-16-2019, 06:49 PM #8
- Join Date
- Apr 2014
- Posts
- 781
Its obvious they dont refund the appraisal...
.its done by 3rd party.
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10-17-2019, 09:21 AM #9
- Join Date
- Apr 2016
- Posts
- 76
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10-17-2019, 09:33 AM #10
- Join Date
- Oct 2016
- Posts
- 4,318
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