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06-07-2022, 04:21 PM #1Member
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MCA With Property Collateral looking 100k
Looking for advance 100k, last three months statement down trending.
Looking to buy out competitor and inventory (Blah Blah Blah).
Willing to put property as collateral.
property owes 140k last appraised at 320k. According to the business owner.
Industry type Alt Energy and Construction sector. Need capital ASAP
has a current loan for 50k... C paper status
Who would be the best choice to fund this deal
PS Has a current offer for 20k not interested >>>
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06-07-2022, 05:12 PM #2Senior Member
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If he wants to buy out competitor, why not give him/them a down payment with a 2 year personal note and put a 2nd lien (UCC) on the property to cover the note until it's paid off. He can make monthly payments on the note. And also make sure he has a purchase agreement for the business too.
Last edited by Olderguy; 06-07-2022 at 05:18 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.
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06-08-2022, 10:26 AM #3Member
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Thank you for bringing that to my attention, that's a great Idea
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