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08-31-2021, 05:33 PM #1
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Declined by MCA Funders- Approved by Large Foot Print Bank!
We were recently referred a client that had 4 MCA positions.
Client had a tough 2020 (similar to many businesses), but had recently secured zero balance letters on all MCA's. Owner/Guarantor has 740 FICO score.
Needed a short term gap to cover a growth surge- and was price sensitive. ALL 'A' PAPER FUNDERS PASSED ON THE FILE because they felt he was a 'serial stacker.' The client did not want a 10 month 1.35 daily or weekly.
We were able to secure him 100k, INTEREST only- PRIME + 2% (5.25%) revolver for 24 months. Obviously the way we got paid is with a success fee and the client was thrilled to pay it.
Let us know if you have clients that do NOT want MCA type deals. This is what we specialize in. We work directly with Banks that use an expedited UW Platform that extend to 60 months. Rates can be sub 6%.
We also:
Make sure clients Financials are ready for submission (you only get one chance at a first impression)
Arrange 100% Commercial Real Estate and Business acquisition Finance
Furnish Asset Based Ledgered Lines of credit (from banks- NOT resellers) starting at 250k with single digit interest rates
Refer Stated income Real Estate Loans with interest rates starting in the low '4's'
Much more...
Contact me @ richard@bccusa.com or visit
https://beforeyouborrow.com/brokers-white-label/
631-458-0100
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