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  1. #1

    650+ Credit Score?

    I have a couple of clients that have 650+ credit scores.
    Both have owned their businesses for a number of years.
    They are looking for any type of loan other than a cash advance where they can get at least $50K.

    Are there any lenders that could possibly help these clients?

  2. #2
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    Term loan or SBA 7A at 10 years 5.5%, if they suffered during Covid, perhaps EIDL 30 years 3.75%. But I wouldn't bother for $50K for SBA7A. Minimum $100K plus. You can get a 1 and a half to 3 year term loan for $50K.
    Steve Benjamin
    Professional Business Loans

    1012 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  3. #3
    Senior Member Reputation points: 2902 JParr's Avatar
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    What do they need the funding for? If they plan to use the funding to purchase equipment, equipment financing providers like SLIM Capital can offer funding options.

    We will consider applications up to $300,000 with no tax returns or financial statements, terms as long as 72 months.
    Joshua Parrish | SLIM Capital
    (415) 938-4977 | josh@slimcapital.com
    www.slimcapital.com

  4. #4
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    Hello,

    I can be of service feel free to contact me I'll be glad to help you and the clients out.

    Best Regards,

    Stanley Colimon

    CEO of: In Contact Market Inc.
    32 McDevitt Rd
    Randolph, MA 02368
    Phone781)510-1453
    Email: s.colimon@incontactmarket.com

  5. #5
    Member Reputation points: 895
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    LoanMe offers a term loan product in 29 states + DC, $3500-$100K with terms up to ten years.

    For additional info, drop us an E-mail via the below address and we'll happily answer your questions, provide program guides for both our SBL and MCA products, etc.

    Cheers.
    Joel S Galasso
    Senior National Accounts Manager
    Small Business Loans
    Main: 949-535-7798 | business.loans@loanme.com

    1900 S. State College Blvd. Suite 300 Anaheim, CA 92806

  6. #6
    Senior Member Reputation points: 1519
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    If their credits are above 650 then try personal loans, pretty easy to get approved 5k-100k.

    Try SoFi, Lending Club or Prosper.
    Underwriting Desk | ClearFund Solutions | New York, NY.
    P: 855-543-2133 E: deals@clearfund.co W: www.clearfund.co
    _____________________________

    ClearFund is a Direct Funder
    ISO inquires: partners@clearfund.co

  7. #7
    Senior Member Reputation points: 216519
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    If you want to qualify for Sofi/LC/Prosper, you need income verification also. And the DTI can't be too high as well, and inquiries make a difference.
    However, if you want to know how to get PAID on submitting these deals, I'll introduce you to the kings.

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