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  1. #1

    Funding Needed

    I am looking for funding for the following:

    1) Pastor needs a home equity loan in order to pay taxes on her church before it is lost to foreclosure.
    She is set on a home equity loan only; nothing else. $76K is owed on the home. Appraises at $150K. Time is of the essence on this one.

    2) Fully operating assisted living facility
    Monthly revenue between $10K - $15K
    Purchased at $290K
    Appraises at $350K
    Has a hard money loan of $220K at 12%
    Also has a 2nd of $10K
    Trying to get out of the hard money loan asap.
    The owner's credit score recently dropped from well over 700 to 680 due to some large purchases.
    Wants to refinance at a good rate

    3) Client needs $3.5M needed to build a truck wash.
    The business is projected to exceed $7M in revenue the first year and $36M over the next 5 years.
    The client does not own the land but is willing to purchase it to make the deal work.

    4) I am involved with a group of business owners that are looking for different types of funding. Credit scores are generally between 600 and 630. None of them want MCAs. If you have anything else, please let me know.

    If you think you can help me with either of these, email me at info@novalendingsolutions.com.

  2. #2
    Senior Member Reputation points: 70569
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    3) Client needs $3.5M needed to build a truck wash.
    The business is projected to exceed $7M in revenue the first year and $36M over the next 5 years.
    The client does not own the land but is willing to purchase it to make the deal work.

    How much $$ does the owner have to put into the game ?
    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    http://www.fcbankcard.com
    SBA 7(a) Loans
    1-727-291-7890 (Text or Leave Message)
    Office: 727-233-1111

  3. #3
    Senior Member Reputation points: 68180
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    Dec 2014
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    Quogue, NY
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    1,095

    Morning Hardrock..

    The Pastor needs strong credit and should look into 'No Ratio' Mortgages for themselves. Rates are in the 4's. We are NOT NMLS licensed but have several friends that are if you need a recommendation. MANY PEOPLE AVOID LENDING TO HOUSES OF WORSHIP BECAUSE WHO WANTS TO EVICT RELIGION!

    Assisted Living: 75LTV STATED Cashout programs exist with FICO above 650. There is a strong possibility we can help on this.

    Truck Wash: As Dave mentioned above- what skin does the buyer have to put into the process? What is the estimated appraised value of the entity? Projections aren't meaningful to banks. Not nearly enough information to say we can provide value- but given all the right answers, a background in the industry and a track record to making this work- it is possible.

    Business owners 600-630: Depending on their situation there are several legitimate loans/credit instruments. Are they profitable? Have they been in business over two years? Do they have collateral? Are they prepared with Financials and have realistic expectations? Why are the scores beneath 650? All these factors are considered and each file will be reviewed on its own merit.

    Per your request I will email you.

    RG

    richard@bccusa.com

    beforeyouborrow.com or bccusa.com
    631-458-0100
    3237 Route 112 Building 9
    Medford, NY 11763

  4. #4
    We can do a commercial property loan. Send me a note.

    Jimmy@sigicancapitalcorp.com

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