Need a Funder or Vendor? START HERE

Results 1 to 8 of 8
  1. #1
    Senior Member Reputation points: 8536
    Join Date
    Dec 2015
    Location
    Los Angeles, CA
    Posts
    121

    Equipment Financing For Start-Up Restaurant In Cali

    DECLINED

    Usually this would be a slam dunk but at the moment we do not have any lessors who are leasing to food / Bev at the moment;

    We tried...
    Last edited by getitfunded; 04-27-2021 at 05:43 PM. Reason: Credit

  2. #2
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Quote Originally Posted by getitfunded View Post
    Appreciate any help, (Please PM me)

    Customer is re-opening/starting-up a restaurant in DTLA and needs $50,000 in start-up financing for restaurant equipment.
    - MBA in marketing and business management
    - 10 years experience managing a restaurant
    - The executive chef as 20+ years experience
    - In a prime location downtown
    - Credit is 720 with 22 trade-lines (oldest account 22 years) with the avg trade-line being 7.5 years
    - Exceptional payment history on all accounts including 2 RE Loans, 1 Auto Loan, 1 Student Loan
    - $165,000 in available credit currently at 24% utilitation
    - PRE-REVENUE

    Usually this would be a slam dunk but at the moment we do not have any lessors who are leasing to food / Bev at the moment;

    We tried...
    SBA is opening Rest . Fund this week

    https://www.sba.gov/funding-programs...alization-fund


    Plus, you have EIDL Funding available @ 3.75%
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  3. #3
    Senior Member Reputation points: 8536
    Join Date
    Dec 2015
    Location
    Los Angeles, CA
    Posts
    121

    Quote Originally Posted by Yankeeman07 View Post
    SBA is opening Rest . Fund this week

    https://www.sba.gov/funding-programs...alization-fund


    Plus, you have EIDL Funding available @ 3.75%
    Thank you Dave!

    I'm going to check the Rest. Fund out now, that would be a perfect option for this customer.

  4. #4
    Senior Member Reputation points: 2902 JParr's Avatar
    Join Date
    Feb 2020
    Location
    Washington DC Area
    Posts
    113

    Quote Originally Posted by Yankeeman07 View Post
    SBA is opening Rest . Fund this week

    https://www.sba.gov/funding-programs...alization-fund


    Plus, you have EIDL Funding available @ 3.75%
    My understanding is that this SBA program is for restaurants that are already in operation and lost revenue due to COVID. This deal is a startup.
    Joshua Parrish | SLIM Capital
    (415) 938-4977 | josh@slimcapital.com
    www.slimcapital.com

  5. #5
    Senior Member Reputation points: 62986
    Join Date
    Apr 2015
    Location
    Louisiana
    Posts
    299

    RRF is for existing businesses in business prior to COVID, so is the EIDL program, not for start-ups

  6. #6
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Quote Originally Posted by sigmundpannu View Post
    RRF is for existing businesses in business prior to COVID, so is the EIDL program, not for start-ups
    This was the post:

    "Customer is re-opening/starting-up a restaurant in DTLA and needs $50,000 in start-up financing for restaurant equipment."

    Unsure if is this the original owner, a new owner of an existing restaurant - Is this owner a self-employed individual ( than EIDL may be a fit)

    I'm sure that the broker has much more info than what was posted.

    Maybe he goes with a personal line of credit since he has a 720 FICO and appears to have a good credit history.


    Not enough info to make a determination -- BUT - IT MAY BE A POSSIBILITY!

  7. #7
    Senior Member Reputation points: 203054
    Join Date
    Jan 2014
    Posts
    1,361

    he has 2 mortgages.... cash him out on the equity.

  8. #8
    Banned Reputation points: 12
    Join Date
    Mar 2020
    Posts
    160

    EASY DEAL!

    Contact me ASAP!

    -
    Anthony Auriemma
    PRESIDENT
    Phone: 848-480-1814
    Fax: 888-440-1760
    Cell: 732-552-5010
    Email: anthony@BilderbergBusinessLenders.com
    Email: BilderbergUnderwriting@gmail.com

    www.BilderbergBusinessLenders.com


    My Products Are:

    Traditional Loans
    We Offer
    Offer Terms of 1 to 10 Years
    Interest Rates Between 3.99% & 12.99%
    Pre-payment Discount with Early Payoff or Refinance
    We Do Not Charge Future Interest
    Loan Amounts From 5,000 to Unlimited
    Traditional Lending, Simple Interest With Monthly Payments, 2 to 12 Year Terms
    Debt Consolidation
    Debt Settlement
    Debt Restructuring
    SBA's With Interest Rates 4.5% To 8.5%
    Purchase Future Receivables, Best Price Guaranteed
    Merchant Cash Advances
    Purchase AR's, Best Price Guaranteed
    Asset Loans At 3.99% with Monthly Payments
    Equipment Leasing & Loans
    ZERO FEE Merchant Processing With Free Terminals
    Business Line of Credit - BLOC
    Invoice Lending
    Property Loans
    Backer Loans
    Commercial Loans 20 to 30 Years
    EBITDA Loans
    Rehab / Construction Loans
    House Flip Loans
    Project Loans (Construction)
    Personal Mortgages Starting at 1.85%
    Rollover 401k, IRA, 403b, 457, SEP, Pension Plans, PST-Military, Annuities, KEOGHS, Retirement Loans
    And, Several Hybrid Financing Options Not Offered Anywhere Else

Similar Threads

  1. Equipment Financing for Start-up companies
    By ZacharyF in forum All Other Lending
    Replies: 0
    Last Post: 04-02-2018, 04:29 PM
  2. Who offers restaurant equipment financing for start ups?
    By LoanShark714 in forum Financial Services
    Replies: 10
    Last Post: 11-16-2016, 03:28 PM
  3. Need Assistance for a Restaurant Start up
    By AndyYSCISOdept in forum Deal Bin
    Replies: 3
    Last Post: 05-17-2016, 10:51 AM
  4. Replies: 7
    Last Post: 02-12-2016, 01:04 PM
  5. Restaurant Equipment Financing - 550 Fico
    By BigIz in forum Deal Bin
    Replies: 4
    Last Post: 10-23-2015, 09:22 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY