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  1. #1

    Lightbulb 300k 12+ Month term

    500-700k monthly deposits
    40 years in business
    purpose :expansion
    760 fico
    CEO Michael Levine
    Capital Venture Group
    Office: 813-738-8323
    Capitalventuresolutions.net
    Email:Michael@capitalventuresgroup.net

  2. #2
    Senior Member Reputation points: 216519
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    Feb 2017
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    3,334

    Do they have senior debt already? Sounds like an easy MCA / short-term 18 month deal. What is the industry? Any time I approach these types of clients, based on TIB and age, they're always surprised (AGHAST) that 2nd position debt has rates in the 1.20's or 1.30 range over that length of time. I had a file like this that he literally hung up the phone on me because he was convinced that his bank LOC didn't even have a UCC, only a PG.... but when you look it up on the UCC searches? The bank came up.
    Last edited by abfunders; 11-22-2021 at 07:31 AM.

  3. #3
    A very difficult individual, Though I was able to gain somewhat of his trust.
    I believe the industry is related to Airline construction & other various services in that department.
    He wasn't too transparent. Still working on obtaining as much information as I can get in the meantime.
    CEO Michael Levine
    Capital Venture Group
    Office: 813-738-8323
    Capitalventuresolutions.net
    Email:Michael@capitalventuresgroup.net

  4. #4
    Senior Member Reputation points: 216519
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    Feb 2017
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    3,334

    So the margins might be tight, you'll have to ask him, and he may be only ready for single digits, and there is a way to do it, but you have to get the last couple of years of tax returns.

  5. #5
    Senior Member Reputation points: 66298 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,087

    When I run into difficult people, I always try to find out "what do you want? What terms and conditions would make you happy?" And then I have client hook up with an office manager in the company to get me all the documents I need.
    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.

  6. #6
    I appreciate the advice, Pressing forward on doing so.
    CEO Michael Levine
    Capital Venture Group
    Office: 813-738-8323
    Capitalventuresolutions.net
    Email:Michael@capitalventuresgroup.net

  7. #7
    You're 100% right.
    In this case, it turned into a political debate. Luckily I was on the same side
    CEO Michael Levine
    Capital Venture Group
    Office: 813-738-8323
    Capitalventuresolutions.net
    Email:Michael@capitalventuresgroup.net

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