Need a Funder or Vendor? START HERE

Results 1 to 4 of 4
  1. #1

    Term loans 2 mil +?

    Merchant doing 8 mil+ in revenue a month
    Anyone doing a 2 million or more term loan?

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

    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

    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.

  3. #3
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    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?

  4. #4
    Senior Member Reputation points: 66298 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,087

    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

    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.

Similar Threads

  1. Replies: 159
    Last Post: 01-27-2020, 03:14 AM
  2. Replies: 0
    Last Post: 10-10-2018, 12:36 PM
  3. Replies: 0
    Last Post: 06-18-2018, 12:36 PM
  4. Replies: 0
    Last Post: 06-12-2018, 01:14 PM
  5. Replies: 0
    Last Post: 06-06-2018, 02:07 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY