Results 1 to 2 of 2
-
03-01-2022, 01:10 PM #1
Overleveraged MCA's - Hard money option
Broker called me...client has 2 MCA's of $150,000 costing him $32,000 a month
Needs money and overleveraged on MCA's....can I do anything.
I called client and asked about property.
Client has primary residence free and clear
Office building NOO free and clear.
Got him $150,000 hard money property loan using these two as collateral - at 1% a month Interest Only
Paid off the two MCA's. (rates now are around 10% a year)
Debt payment went from $32,000 a month down to $1,500 a month.
a 2 year bridge loan.
Saved him over $30,000 a month in debt payments.
It's an option .... let me know if you need help with this.
Ask questions...do they own property, other assets? Do they qualify for a personal loan, do they have co-signers?Steve Benjamin
Professional Business Loans
522 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.
-
03-01-2022, 02:04 PM #2
Reputation points: 40937
- Join Date
- Dec 2016
- Posts
- 379
gmail lol
Similar Threads
-
Help save small businesses, any overleveraged files/declines Req 25k min
By CVG in forum Merchant Cash AdvanceReplies: 2Last Post: 11-22-2021, 02:46 AM -
Hard Money
By riveradvance in forum Deal BinReplies: 2Last Post: 10-17-2018, 07:09 PM -
Hard Money
By Juan in forum PromotionsReplies: 0Last Post: 05-22-2018, 08:20 AM -
Hard money commercial lenders that move money
By BSCI 504 in forum Deal BinReplies: 1Last Post: 11-20-2017, 01:24 PM -
Hard Money
By TedFundy in forum Deal BinReplies: 3Last Post: 05-01-2017, 03:09 PM