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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: 66298 Olderguy's Avatar
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    Irvine, CA
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    Rapid does, Midwest Corporate Credit also offers a business LOC, I'm sure there are plenty of others.
    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: 4457
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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: 29456
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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: 66298 Olderguy's Avatar
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    Irvine, CA
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    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

    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.

  9. #9
    We represent an investment group that offers loc's at 80% LTV. Minimum $10M+, 5% int only qrtly pmts. They're looking at all deals. DM for more info or call us at: (209)881-4410

  10. #10
    Quote Originally Posted by edom4578 View Post
    Looking to broker with someone that offers Business LOC's
    We represent a group that does 80% LTV LOC's
    Min $10M, no credit requirements, must be an llc, corp and provide a 2-pg biz plan including pro forma.

    Message me for details.

  11. #11
    Senior Member Reputation points: 9802
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    Quote Originally Posted by edom4578 View Post
    Looking to broker with someone that offers Business LOC's
    My companies first position deals work kind of like a line of credit. On renewals we do not payoff the old balance to shorten the old term and charge double on the old balance. We just exten the term out the payment stays the same and when the old balance is finished months later then they pay on the new balances. I have merchant been with me for years and keep renewing every few months and paid a total costs between 32-38% for years of funding.

    Scott Platto
    scott@tmrnow.com
    tmrnow.com
    212-220-9872

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