Results 1 to 6 of 6
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03-02-2022, 01:11 PM #1
Line of Credit for Construction Company w/ Term Loan & MCAs Already in Place?
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?
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03-02-2022, 01:20 PM #2
- Join Date
- Feb 2014
- Location
- Florida
- Posts
- 266
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.
Shannon Harris
Funding Specialist
888-705-8818 phone
239-790-2664 fax
Shannon@StellarBusinessFunding.com
www.stellarbusinessfunding.com
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03-02-2022, 02:08 PM #3
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 732
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03-03-2022, 09:41 AM #4
- Join Date
- Nov 2021
- Posts
- 9
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
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03-07-2022, 09:30 AM #5
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03-15-2022, 03:12 PM #6
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