Results 1 to 4 of 4
-
05-08-2022, 08:54 PM #1
- Join Date
- Mar 2016
- Posts
- 1
Term loans 2 mil +?
Merchant doing 8 mil+ in revenue a month
Anyone doing a 2 million or more term loan?
-
05-08-2022, 09:54 PM #2
Yes....my non bank SBA lender can go up to $10M. It's just not a SBA loan and the rate would be up to 9.5% range 10 year up...guidelines like SBA loan. An SBA 7A can go up to $5M. 10 year 6%.
Last edited by Olderguy; 05-08-2022 at 11:18 PM.
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.
-
05-09-2022, 08:18 AM #3
- Join Date
- Feb 2017
- Posts
- 3,450
It makes it easier depending on the type of business and if/if not there's collateral. If this is a B2B client, then why go term loan and not line of credit? It's all about the use of funds I would think, so there has to be a story. If it's a building they're trying to buy, $2mm isn't challenging. Equipment - same thing. So why are they exploring the need for a term loan?
Also, what senior debt do they have? With A+ clients, we brokers in this space are generally competing with their bank and it gets annoying because they get rate sensitive, even though what we're offering is either easier money or better money (you get what you pay for - in this instance, it's just like buying a car and you pay a higher price for the value). So find out - why won't their bank provide them with something?
-
05-09-2022, 09:24 AM #4
Micah I agree....all questions I'd ask...too many variables...but people without a lot of high level loan experience just ask "term loan". So I get all financials, list of liabilities, use of funds breakdown, any A/R aging, property, etc. Maybe it's factoring, maybe it's term loan, hard to tell with more in depth analysis.
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.
Similar Threads
-
SBA, Traditional Term Loans, Short-Term Loans, Bridge Loans and Hard Money Loans
By AlexP in forum All Other LendingReplies: 159Last Post: 01-27-2020, 03:14 AM -
SBA Loans, Term Loans, Bridge Loans and Hard Money Loans
By AlexP in forum Business LoansReplies: 0Last Post: 10-10-2018, 12:36 PM -
Term Loans, SBA Loans, Short-Term Loans and Hard Money Loans, Best Rates!
By AlexP in forum Business LoansReplies: 0Last Post: 06-18-2018, 12:36 PM -
Term Loans, SBA Loans, Bridge Loans and Hard Money Loans, Best Rates!
By AlexP in forum PromotionsReplies: 0Last Post: 06-12-2018, 01:14 PM -
SBA, Traditional Term Loans, Short-Term Loans, Bridge Loans
By AlexP in forum PromotionsReplies: 0Last Post: 06-06-2018, 02:07 PM