[Fundyman]

Is this possible? The merchant already has a term loan half-paid & a few MCAs out.
It's a construction company, so the preferred product is a line of credit.
They get paid 1st week of the month so it's convenient for the lender, as they always pay down the line on a monthly basis.
Credit is 680+
Question is: Is there a lender that lends under these conditions?

[SBF]

Rapid offers LOC up to $55K (as of about 4 or 5 months ago).. they can fund this product behind other mca's and term debt. They are good with construction industry, but for any amount over $50K, they require financials, not sure if that's a requirement for this product though.

[omegafund]

Is this possible? The merchant already has a term loan half-paid & a few MCAs out.
It's a construction company, so the preferred product is a line of credit.
They get paid 1st week of the month so it's convenient for the lender, as they always pay down the line on a monthly basis.
Credit is 680+
Question is: Is there a lender that lends under these conditions?

I doubt it, the could not qualify in the beginning for a LOC what makes them think they can now qualify for one after a term and some MCAs.

If he has commercial AR that can pay everything off that may be an option

[Greg@ Financial Lynx]

Is this possible? The merchant already has a term loan half-paid & a few MCAs out.
It's a construction company, so the preferred product is a line of credit.
They get paid 1st week of the month so it's convenient for the lender, as they always pay down the line on a monthly basis.
Credit is 680+
Question is: Is there a lender that lends under these conditions?

Hey Fundyman:
Our core offering is a unsecured bank line of credit.
4-8 % APR
10-15% of gross annual sales ( on the tax return) is what becomes available as the line amount
Revolving
Interest only
up to $250k per line
paying up to 5 points to the referring partner

We can and can't help when there's debt in place. It depends on the amount of money the client is seeking/ qualify for, their credit ( 680 is border line) , how their most recent corp returns are and a big piece of the puzzle which bank can help. Please call, text or email me to learn more and discuss this files details if you'd like. Thank you.

Greg Derwin
Financial Lynx
347 430 8294
greg@financiallynx.com
www.financiallynx.com

[Fundyman]

Rapid offers LOC up to $55K (as of about 4 or 5 months ago).. they can fund this product behind other mca's and term debt. They are good with construction industry, but for any amount over $50K, they require financials, not sure if that's a requirement for this product though.

Thanks. $50-55K may really be on the low & as far as what the borrower is looking for, but we never actually discussed exact numbers... Let me check & back to you.

[Fundyman]

Rapid offers LOC up to $55K (as of about 4 or 5 months ago).. they can fund this product behind other mca's and term debt. They are good with construction industry, but for any amount over $50K, they require financials, not sure if that's a requirement for this product though.

Thanks. That may be the way to go at this point...