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  1. #1
    Senior Member Reputation points: 8231
    Join Date
    Dec 2021

    Client looking for 350-500k Term Loan

    I have a client looking for 350-500k. He does ~7mil a year. 700+ credit. He currently has one term loan with a 480k balance. Can anyone recommend a lender that would go out to 5-10 years.
    Last edited by goldenhippo80; 08-29-2022 at 10:42 AM.

  2. #2
    Senior Member Reputation points: 54435 Olderguy's Avatar
    Join Date
    Sep 2021
    Irvine, CA

    If his term loan is a SBA 7A, he can go back to the same lender and get a second SBA 7A. Otherwise a 7A is 10 years at 7%. Needs 85% collateralization. Does he qualify for A/R factoring?
    Steve Benjamin
    Professional Business Loans

    1012 Contessa
    Irvine, CA 92620
    Broker, Underwriter, general business loan expert

    @ 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: 192015
    Join Date
    Feb 2017

    Quote Originally Posted by goldenhippo80 View Post
    I have a client looking for 350-500k. He does ~7mil a year. 700+ credit. He currently has one term loan with a 480k balance. Can anyone recommend a lender that would go out to 5-10 years.
    The 480k term loan, what type of senior debt is it? Bank? What's the collateral? Does he have any lines of credit? Of course an MCA may work here, but if they're interested in something more prime, it takes more underwriting. There are plenty of direct 1st position funders out there who can do this, but the question is if the client will take 20-30% rates.

  4. #4
    If we could secure the debt I may be able to offer longer terms.

    Direct SBA lender, fast closings.
    Dan Wallace
    Enterprise Bank
    National, direct SBA lender
    Fast and creative financing solutions

  5. #5
    Senior Member Reputation points: 16709
    Join Date
    Jul 2014
    Jackson Hole Wy

    If real estate with sufficient equity we can consider

  6. #6
    Funded In A Jiffy! said:
    Today 03:37 PM
    I'm looking for working capital deals where the owners credit score is 560 or above. This is a monthly payment loan. No more than 14 Nsf in the last 90 days. Can fund up to $250k. Must be in business 2 years.

    Call me at 765.517.0975 or email Lorraine at

  7. #7
    Senior Member Reputation points: 42
    Join Date
    Oct 2022

    Oh wow, these are perfect files I work on frequently. I would love to chat with you. I see you have some replies above, but I do this day in and out for a firm. If interested contact me at 1-516-236-4086 Elon Henek

  8. #8
    Senior Member Reputation points: 1098
    Join Date
    Apr 2017
    1301 NJ-36, Bldg#2, Ste#5, Hazlet, Nj, 07730

    Call my guy Cameron Stanton from IOU Financial, if over $500k a month and $50k balances with 660+ vantage score term loans up to double monthly avg with $1.5M max in 1st or 2nd up to 36 months with monthly payments factor rates of 1.51 for 24 months and 1.72 for 36 months.
    IOU is also making Exceptions... Fund Alot they Just funded $675k renewal Dr. over 18 months paying $365k in MCA's not including there balance.
    Account Executive

    IOU Financial
    Business Lending. Simplified.

    American Banker Top 50 Places to Work in Fintech 2022
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    Thank you for your cooperation, we got this Cheers!
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    Funding Director
    Alexander "Gold"
    Direct732) 917-1594 | Toll Free844) WE-FUND-2 (933-8362) | Office732) 362-2828 |
    Email: Apps@FutureFunding.Co | Check us out: |
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