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01-29-2020, 10:16 AM #1
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Term Loan Lenders
Aside of FundingCircle are there any term loan lenders that'll do a 2-5 year term? I have multiple transitionary deals that have 700+ FICOs, good financials, but don't yet qualify for a SBA backed consolidation. Trying to see if there's any alternatives.
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01-29-2020, 10:20 AM #2
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Adeel,
Have you considered an asset based line of credit or factoring? Using either tool for working capital is much better as they are revolving facilities. Term loans van be a good tool, but they are not revolving and the borrower must be a good shepard of capital.Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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01-29-2020, 10:57 AM #3
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Credibility Capital. I believe they’re now teamed up with Seacoast.
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01-29-2020, 11:36 AM #4
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01-29-2020, 11:57 AM #5
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Sure, they could. But Credibility works with a number of banks to do $100-350k term loans outside of the SBA program. So it’s not a bad option if you’re a newer broker that doesn’t quite understand how to read/analyze financials, and don’t have any relationships with conventional lenders.
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01-29-2020, 12:49 PM #6
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The percentage of straight WC deals that qualify for ABLOCs and Factoring are less than 5% in our pipeline. Besides continuously riding factoring companies for month end statements to show what our true compensation is an exercise in futility. There is no transparency and nearly everyone quits paying in a few months. That's my experience and one main reasons why I don't push factoring anymore.
Non-SBA backed working capital loans would be a god send. Especially given that 50% of them will qualify for a loan consolidation from the SBA after the TIB hurdle is overcome.
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01-29-2020, 02:23 PM #7
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Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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01-29-2020, 02:32 PM #8
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Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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01-29-2020, 02:37 PM #9
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Kevin: I certainly didn't mean you in my rant. Factoring deals are far and few between tbh and the ROAS for me is non-economical as most of my marketing is online driven. Perhaps down the road this changes as we get a more diverse portfolio of clients.
For the time being most are doctors. If you work with those guys PM me.
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01-29-2020, 02:45 PM #10
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Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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01-29-2020, 03:09 PM #11
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Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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02-06-2020, 07:29 PM #12
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Can you email me intro letter I think we might be able to help my email is milford@commercialmortgagecap.com thanks
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02-10-2020, 04:08 PM #13
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Is Seacoast a direct lender ? credibility sounds like a broker too ? Are they both a good source for term loans to clients with good fico scores and decent income?
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02-10-2020, 04:14 PM #14
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Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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02-10-2020, 05:33 PM #15
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02-11-2020, 07:37 AM #16
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Our division does not finance real estate assets. We finance accounts receivables first and foremost. We can finance inventory and M&E as an accomodation to a receivables facility. We will not finance inventory and/or M&E as a standalone. Our division has a national footprint.
Seacoast Bank is an FDIC insured bank that is headquartered in Florida with retail branches and commercial loan offices in Florida. The bank offers traditional personal and commercial lending products and bank services. The SBA team focuses most in Florida, but has been doing some SBA loans out f state on a case by case basis. Seacoast Marine is a division of the bank that is a boat and yacht lending division that finances boats/yachts for credit worthy customers on a national level. Most of their loans have been within the state of Florida.
You can find out more information about Seacoast Bank on their website: SeacoastBank.com
Our division's website is: SeacoastBF.com
Best,
Kevin
PS: If you send an e-mail with your FULL contact details, I will be happy to send some information about us.
Best,
KevinKevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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02-11-2020, 08:24 AM #17
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02-13-2020, 10:58 AM #18
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Biz2Credit offers TL's with 48 month+ term and high single digit/low teens interest rate
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02-13-2020, 11:24 AM #19
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02-13-2020, 11:37 AM #20
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joseph.royal@biz2credit.com
Feel free to reach out. Thanks
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02-26-2020, 04:54 PM #21
LoanMe offers monthly term loans; 2, 5 and 10 years. We work with any Valid FICO as long as they have 25% ownership of the business, and an open and funded business bank account for 90 days. Let us know if we can help
Justin Pla
LoanMe Small Business Loans National Account Manager
justin.pla@loanme.com
Office: (949)535-7798
Direct: (949) 535-7171
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04-03-2020, 01:14 PM #22
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We do MCA refinance (consolidations) into a 24 to 36-month term loan with ONE MONTHLY PAYMENT and offer new working capital at closing.
We are direct lenders and use our own capital to lend.
We are currently lending and haven't stopped.
Stefan Bernarsky
CIO
Kanjorski Partners LLC
570-862-7279 call or text
www.kanjorskipartners.com/refinance
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04-03-2020, 01:18 PM #23
Stefan,
In all seriousness this forum is not a playground. You have gone beyond being a nuisance at this point. I am not certain as to what advantage you feel you have posting this same content over and over. Its like showing up at a party and hitting on every woman in the room with no regard. We all know what happens to people like this.
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04-03-2020, 02:06 PM #24
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Jason,
Just spreading the word on our unique financing product so brokers and referral partners can better monetize their leads. Also, American small businesses benefit greatly from the financing product we offer that no one else is offering right now in the marketplace. Everyone wins at the end of our deals: Referral partner (paid at closing, no claw backs), Over-leveraged company gets to de-lever and save their business, Merchant Cash Company gets their capital back. Triple win.
REFINANCE all merchant cash positions to ONE MONTHLY PAYMENT on a 24 to 36 month TERM LOAN w/ additional working capital available as well.
We are direct lenders and use our own capital to lend.
We are currently lending and haven't stopped.
Feel free to call or email me about details.
Stefan Bernarsky
Chief Investment Officer
www.kanjorskipartners.com/refinance
sbernarsky@kanjorskipartners.com
570-862-7279 call or text
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11-19-2020, 07:04 PM #25
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Maybe you have already gotten your answer. If not contact me and let us discuss if it would be a good fit.
Michael Cooper
michael@2getfunded.com
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