Results 1 to 9 of 9
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06-23-2022, 01:07 AM #1
- Join Date
- Apr 2013
- Posts
- 359
Retailer w/ $435K on 4 positions needs to consolidate 2
Merchant does $3M annually.
Has two positions at $25K and $125K respectively which he would like to pay off and get additional capital.
The other balances are a $240K remaining MCA and $160K with Paypal.
25-30% of revenue is going to current payments. We are looking for a lender we can consolidate the two smaller 1-2 positions with.
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06-23-2022, 08:15 AM #2
Does he qualify for a term loan to pay these off?
Why not try and get these people out of these MCA loans into something better if they qualify.
5 year term loan, monthly payment around 20% interest:
Pre-approvals in an hour.
fund in a week...
requirements:
5 years TIB
680+ Fico
Must have brick and mortar location
$200K+ a year in revenue
No origination fee
No collateral
No blanket UCC
No requirement to pay off existing debt
$500K max loan amount
documents to prequal:
Loan app
4 months business bank statements
driver's license front and back
Something showing Fico
Commission 9% - 10% and I split with broker.Last edited by Olderguy; 06-23-2022 at 08:54 AM.
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.
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06-23-2022, 09:00 AM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,996
You omit many details such as TIB - Current Factors Rates - FICO - Does the merchant qualify for a Term Loan, or a SBA?
Leaving PayPal in place since it is a % of their credit card sales - that leaves $400K - why would you not eliminate all the MCA funding ?
Take a look at First Bay Financial - https://www.bayfirstfinancial.com/bu...artnerprogram/Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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06-23-2022, 12:10 PM #4
- Join Date
- May 2022
- Posts
- 98
Obviously we would need more details, but if the file is clean, we can do something here. Call me direct.
$ 1% bonus point for the month of June $
We have revamped our lending criteria for aggressive offers and maximum deal flow. We pride ourselves on being extremely creative and flexible.
Our funding Criteria:
- 10k minimum funding - 500k max funding
- B, C, D paper
- Offers not based on credit score - low credit ok
- Response time (realistically) as low as 60 minutes
- 1st - 5th position - Up to 38% withhold of net deposits
- 1.32 buy rates
- Terms up to 140 days (weekly's upon approval)
- Max Upsell to 15 points
- Early Payoff Discounts
- 4 truck minimum for trucking industry
- 15k a month average revenue
- Minimum of 5 deposits per month
- Minimal stips (VC & ID)
- Docusign Contracts
- Commission paid after 1st debit clears (4 days)
! Attention Sales Reps !
- Ask us about our Line of Credit for syndication -
Michael Ross
Lendbug
New York, NY
Mross@lendbug.com
646-360-0411
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06-23-2022, 01:20 PM #5
- Join Date
- Apr 2013
- Posts
- 359
I'm not asking the forum to underwrite his file here. I'm always amazed by that comment. We point out the requirements we need, and if anything else is a concern -- credit, time in business, tax liens, judgements, family upheaval, political preference, etc. -- we'll point it out.
We need a lender who can consider an applicant with four positions and consider taking out two. Most lenders have a cap on how many positions a merchant can have to even look at them.
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06-23-2022, 03:21 PM #6
Term loan guy I use doesn't require other debt to be paid off. I could submit it but not sure that is what you are seeking.
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06-23-2022, 05:50 PM #7
Does he own Real Estate?
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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07-07-2022, 08:14 PM #8
Send it over If you still seeking funding?
BUSINESS LOAN PROGRAMS
- Same Day Business Loans
- Personal Loans up to$200K with a 680+ FICO
- Business Lines of Credit
- Business Term Loans
- All Equipment Financing – Truck and more!
- Get up to $150,000 with 0% Apr – 680+ FICO
- All SBA Loans
- Start Up Business Loans
- Much more!
Hard Money for Real Estate
We offer Nationwide Hard Money for Residential and Commercial Properties. We work with several lenders to get you the best financing. Lets us build a relationship.
HARD MONEY FOR REAL ESTATE
- Fix and Flip
- Purchases
- Cash Out Refinance
- Ground Up Construction
- Bridge Loans
- Commercial Properties
- Multi Family
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- Much more!
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07-19-2022, 12:51 PM #9
- Join Date
- Jul 2022
- Location
- NYC
- Posts
- 34
· We fund active defaults!!!
· We fund B-D paper!!!
· 10 Points Commission!!!
· 2nd - 14th position
· Email: Gary@infusioncapital.org
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