[All Star]

Hello,

We have worked with 5 - 10 Lenders and a couple Brokers. None can close a Term Loan. They are looking for traditional bank paper and even then we do not know if they could close that file.

We are super busy, if you can show us some of the term loans you've completed and you are the money or real close to the money PLEASE CALL ME OR TEXT ME AT 603.401.6408. PLEASE DO NOT LEAVE ME A MESSAGE HERE. I POST AND THATS IT.

Thanks, Gil

[RichardGerard]

Gil,

By all accounts you are a very nice man- and we appreciate that you sent us a few files. It isn't about knowing lenders or brokers- it is about preparing a file for a loan.

Banks need to see 2 years of personal and corporate returns (minimally), and YTD PL and Balance. They need to understand the credit of the guarantors, and see that the client has the wherewithal to pay back the loan, and when collateral is needed- enough to attach to in the event the client goes sideways.

Unfortunately the amount of documentation needed is infinitely greater than the MCA world, and the clients need to understand that- and have realistic expectations. Your Construction client out of Texas- the one that showed COGS greater than his sales- and blatantly appeared to be a fix and flip entity: given losses, volatile business type- with other debt on the Balance Sheet- made his business not attractive to a bank to lend to. THAT'S why they don't have a term loan.

Just because a business does a significant topline annually doesn't mean they are 'bankable'. That's why there is alternative finance.
Creating realistic expectations is a huge part of what we all do here. Knowing what is and what isn't bankable is what defines our most valuable resource- time.

[WestCoastFunding]

Listen guys, I have a marketing firm doing $3M annually with no tangible assets. They want $1M with a DSCR of 0.0001. Who can do this?

[ryan $]

Listen guys, I have a marketing firm doing $3M annually with no tangible assets. They want $1M with a DSCR of 0.0001. Who can do this?

No its their fault. The Lenders. They cant do term loans.

Im gonna keep seeking out the unicorn lender to fund **** files with a paper products instead of finding better clients.

Or selling MCAs like i should be