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  1. #1

    Looking to broker with someone that offers Business LOC's

    Looking to broker with someone that offers Business LOC's

  2. #2
    Senior Member Reputation points: 22304 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    640

    Rapid does, Midwest Corporate Credit also offers a business LOC, I'm sure there are plenty of others.
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

  3. #3
    Senior Member Reputation points: 4320
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    I've done quite a few with RAPID, but just learned if the merchant is in CA, the ISO must have a CA Lenders License...
    Shannon Harris
    Funding Specialist
    888-705-8818 phone
    239-790-2664 fax
    Shannon@StellarBusinessFunding.com
    www.stellarbusinessfunding.com

  4. #4
    Quote Originally Posted by edom4578 View Post
    Looking to broker with someone that offers Business LOC's


    We have something like that but it would be asset, A/R or inventory backed. bankable rates. good credit a must.



    $ 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

  5. #5
    Senior Member Reputation points: 15276
    Join Date
    Jun 2021
    Location
    miami
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    Quote Originally Posted by Olderguy View Post
    Rapid does, Midwest Corporate Credit also offers a business LOC, I'm sure there are plenty of others.
    never heard of midwest corporate credit are they any good?

  6. #6
    Terms and interest rates :
    - $2500 to $250,000 - 3 day approval typically
    - 6 Month term starts at 7.99% or 1.5% per month
    - 12 Month term starts at 14.99% or 1.5% per month also 18 month term available
    - No prepayment penalties, Only pay interest for the months that you use
    - Once you get an approval you have access to the capital in about 1 day
    Requirements :
    - Time in business 1 year
    - Min. Gross sales 30g Per month
    - Fico of 600
    - No more than 3 overdrafts in 3 months
    - Min bank balance is $2500.00
    Required Documents :
    - Application completed ( attached )
    - Last 3 months of business banking
    - Drivers license
    Message me let's speak

  7. #7
    No minimum fico required anymore, also have a/r backed business loc's

  8. #8
    Senior Member Reputation points: 22304 Olderguy's Avatar
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    Sep 2021
    Location
    Irvine, CA
    Posts
    640

    Quote Originally Posted by Bcooper View Post
    never heard of midwest corporate credit are they any good?
    Yes I got a guy $69K that was doing $10K a month in deposits.

    BAILEY BLASDEL
    Business Finance Consultant
    Midwest Corporate Credit
    (630) 974-5507
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

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