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  1. #1

    Line of credit funders

    Hi all, I’m wondering if any of you can recommend a good place to go for lines of credit?

  2. #2
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    Blue vine ,headway and odc

  3. #3
    Thanks achi

  4. #4
    You can find an LOC through Become's marketplace - they've got 50+ lenders in their network and they use their algorithms to find the lenders that are best fit to your business's financial needs.

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  6. #6
    Headway works with brokers/ISO's now?

  7. #7
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    Quote Originally Posted by Michael I View Post
    Blue vine ,headway and odc
    All you need to know.

  8. #8
    Quote Originally Posted by Ben Shabat View Post
    You can find an LOC through Become's marketplace - they've got 50+ lenders in their network and they use their algorithms to find the lenders that are best fit to your business's financial needs.
    This worked for me.

  9. #9
    Always had decent success with BlueVine. Got an email that they are funding LOCs again.. has anyone gotten anything funded with them recently?

  10. #10
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    Quote Originally Posted by killerspin View Post
    Always had decent success with BlueVine. Got an email that they are funding LOCs again.. has anyone gotten anything funded with them recently?
    Have a $100k monthly offer for 15.3% on the table right now, waiting for the client to get the PO he needs to draw.
    Micah Markowitz | mmarkowitz@abfunders.com | 855-33-GO-ABF (direct)

  11. #11
    Senior Member Reputation points: 35252 brokerCompany's Avatar
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    Quote Originally Posted by killerspin View Post
    Always had decent success with BlueVine. Got an email that they are funding LOCs again.. has anyone gotten anything funded with them recently?
    They updated their requirements. Min 3 years in business. Even a clean deal their computer UWs wont consider anything less than 3 years in business.

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    It appears BlueVine secured a new or extension of their credit facility.
    Seacoast Business Funding, a division of Seacoast Bank
    Kevin Henry-VP Business Development
    Kevin.Henry@SeacoastBF.com
    561-623-1872
    www.seacoastbf.com
    Boynton Beach, FL

  13. #13
    Quote Originally Posted by Jeremy Lang View Post
    This worked for me.
    Happy to hear it! I see a lot of people speaking about BlueVine - just wanted to mention that in Become's marketplace, Fundbox is also offering LOCs. Given the current economic situation related to COVID, they're offering LOCs specifically for e-commerce businesses.

  14. #14
    Senior Member Reputation points: 35252 brokerCompany's Avatar
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    Any other lenders that offer larger LOC or ABL? 500k-1M++??

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    Quote Originally Posted by brokerCompany View Post
    Any other lenders that offer larger LOC or ABL? 500k-1M++??
    yep
    Seacoast Business Funding, a division of Seacoast Bank
    Kevin Henry-VP Business Development
    Kevin.Henry@SeacoastBF.com
    561-623-1872
    www.seacoastbf.com
    Boynton Beach, FL

  16. #16
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    Quote Originally Posted by Kevin Henry-Seacoast View Post
    yep
    Hi Kevin. I understand you only invoice factor and prefer your ABL to be over 1.5M. These particular deals probably not in your box. 900k monthly and only 1 client with state of texas

  17. #17
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    Quote Originally Posted by brokerCompany View Post
    Hi Kevin. I understand you only invoice factor and prefer your ABL to be over 1.5M. These particular deals probably not in your box. 900k monthly and only 1 client with state of texas
    It will be very hard to find a legitimate lender that will offer a LOC or ABL deal for a company with one debtor. ABL/LOC is almost non-existent for a company with 100% customer concentration. Usually non-bank lenders will set limits at a maximum of 50%.

    -Have you credit checked the debtor to see if they are eligible for credit insurance?
    -Does the balance sheet support the debtor if they don't pay?

    If the answer to the above is no, you will have a tough time even finding a legitimate factoring deal for the company.
    Seacoast Business Funding, a division of Seacoast Bank
    Kevin Henry-VP Business Development
    Kevin.Henry@SeacoastBF.com
    561-623-1872
    www.seacoastbf.com
    Boynton Beach, FL

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