[CashAdvanceKing]

Hello,

I have a client who is seeking a business loan. He currently has a first position, however he wants a loan with low rates and longer terms, for example 1 to 2 years.

What direct funder offers the lowest rates?

[Get It Done]

"I can get you anything you qualify for"
It's not on you. It's on him. Assess his current funding and financial health, always do better if you can.

Edit

[Yankeeman07]

Hello,

I have a client who is seeking a business loan. He currently has a first position, however he wants a loan with low rates and longer terms, for example 1 to 2 years.

What direct funder offers the lowest rates?

What does the merchant qualify for, NOT what the merchant wants.
Type of business, revenue, real estate, TIB are all factors to consider.

With additional details, we may have a funding solution.

[abfunders]

Lower your expectations for getting 10 points and you'll side get him lower rates.

[omegafund]

Ok so he got an MCA for a reason and now thinks he can get a low rate term loan. We have done these unsecured term loans but the MCA should be seasoned for at least 90 days. Term lender will payoff MCA.
680 + fico with clean bank statements (NO NSF, Average and Ending Balances to support a monthly payment)

EDIT for smaller deals under 100k we can get it done with bank statements only

[RichardGerard]

Maybe client needed money fast- and is now more prepared for a real loan.

Real Banks will not be concerned with NSF's as much as earnings, Global Cash Flow, and Debt Service Coverage. FICO scores are a large component as it speaks to the clients credibility.

There are folks like Fundation, Credibility, Street Shares, Funding Circle, TAB Bank, Independence Bank that will do these- along with a host of other Banks that will do SBA Express.

FICO should be 650+ (though Ben at Omega is not wrong in saying 680- the better the credit the better the deal).

Client will NEED to have YTD PL and Balance within 60 days- 17/18 Corporate returns (and other Corp returns if there are multiple K-1's).

If the client is profitable, has good credit, and is organized- a real loan is very likely