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  1. #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.

  2. #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.
    Hedley Lamarr......That's Hedley

  3. #3
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    Credibility Capital. I believe they’re now teamed up with Seacoast.

  4. #4
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    Quote Originally Posted by WestCoastFunding View Post
    Credibility Capital. I believe they’re now teamed up with Seacoast.
    Why would anyone go through credibility capital when they can just go to seacoast directly?

  5. #5
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    Quote Originally Posted by mrmrg View Post
    Why would anyone go through credibility capital when they can just go to seacoast directly?
    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.

  6. #6
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    Quote Originally Posted by Kevin Henry-Seacoast View Post
    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.

    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.

  7. #7
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    Quote Originally Posted by aak723 View Post
    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.
    We send detailed customer statements showing volume and fees monthly. You have been working with the wrong people. I have referral sources collecting monthly commissions on deals closed 4 years ago.....
    Hedley Lamarr......That's Hedley

  8. #8
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    Quote Originally Posted by WestCoastFunding View Post
    Credibility Capital. I believe they’re now teamed up with Seacoast.
    Not sure that is still in place, but will check.
    Hedley Lamarr......That's Hedley

  9. #9
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    Quote Originally Posted by Kevin Henry-Seacoast View Post
    We send detailed customer statements showing volume and fees monthly. You have been working with the wrong people. I have referral sources collecting monthly commissions on deals closed 4 years ago.....
    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.

  10. #10
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    Quote Originally Posted by aak723 View Post
    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.
    We avoid healthcare services where invoices are paid ny insurance, Medicare, and/or medicaid. I sent soe info about us via. e-mail.

    KH
    Hedley Lamarr......That's Hedley

  11. #11
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    Quote Originally Posted by WestCoastFunding View Post
    Credibility Capital. I believe they’re now teamed up with Seacoast.
    That relationship ended years ago. I guess they never took it off their site.
    Hedley Lamarr......That's Hedley

  12. #12
    Can you email me intro letter I think we might be able to help my email is milford@commercialmortgagecap.com thanks

  13. #13
    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?

  14. #14
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    Quote Originally Posted by Ccarasa View Post
    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?
    Seacoast Business Funding is a division of Seacoast Bank. Seacoast bank is a large publicly traded bank headquartered in Florida. We are the factoring and asset based lending division of the bank.
    Hedley Lamarr......That's Hedley

  15. #15
    Quote Originally Posted by Kevin Henry-Seacoast View Post
    Seacoast Business Funding is a division of Seacoast Bank. Seacoast bank is a large publicly traded bank headquartered in Florida. We are the factoring and asset based lending division of the bank.
    Ok thanks. So Terms loans is not something your division does without it being secured by an asset? What kind of assets properties? What about the other divisions at Seacoast bank?

  16. #16
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    Quote Originally Posted by Ccarasa View Post
    Ok thanks. So Terms loans is not something your division does without it being secured by an asset? What kind of assets properties? What about the other divisions at Seacoast bank?
    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,

    Kevin
    Hedley Lamarr......That's Hedley

  17. #17
    Quote Originally Posted by Kevin Henry-Seacoast View Post
    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,

    Kevin
    Thanks Kevin . I will definitely reach out .

  18. #18
    Biz2Credit offers TL's with 48 month+ term and high single digit/low teens interest rate

  19. #19
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    Quote Originally Posted by cre_lender View Post
    Biz2Credit offers TL's with 48 month+ term and high single digit/low teens interest rate
    Do you have a contact there?

  20. #20
    joseph.royal@biz2credit.com

    Feel free to reach out. Thanks

  21. #21
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    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

  22. #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

  23. #23
    Senior Member Reputation points: 46943 JasonBishop's Avatar
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    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.

  24. #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

  25. #25
    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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