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  1. #1
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    Client looking for 350-500k Term Loan

    Hello,
    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: 66298 Olderguy's Avatar
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    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
    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
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    Quote Originally Posted by goldenhippo80 View Post
    Hello,
    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
    SVP
    Enterprise Bank
    National, direct SBA lender
    Fast and creative financing solutions
    970-390-6650
    dwallace@enterprisebank.com

  5. #5
    Senior Member Reputation points: 16709
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    If real estate with sufficient equity we can consider

    www.omegafund.com

  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 lorraine@moveaheadfin.com.

  7. #7
    Senior Member Reputation points: 1755
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    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: 1383
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    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
    678.894.1773
    cstanton@ioufinancial.com

    IOU Financial
    Business Lending. Simplified.

    American Banker Top 50 Places to Work in Fintech 2022
    Follow us on LinkedIn
    ioufinancial.com

    Thank you for your cooperation, we got this Cheers!
    Logo 2021-11-18 17 52 56 (1).jpg
    Funding Director
    Alexander "Gold"
    Direct732) 917-1594 | Toll Free844) WE-FUND-2 (933-8362) | Office732) 362-2828 |
    Email: Apps@FutureFunding.Co | Check us out: www.FutureFunding.co |
    Follow us on: https://www.linkedin.com/company/futurefundingcompany

    This electronic mail message contains information that(a)is or may be legally privileged, confidential, proprietary in nature, or otherwise protected by law from disclosure, and (b) is intended only for the use of the addressee(s) named herein. If you are not the intended recipient, an addressee, or the person responsible for delivering this to an addressee, you are hereby notified that reading, using, copying, or distributing any part of this message is strictly prohibited. For SBA disaster loans you don't need us to apply. If you have received this electronic mail message in error, please contact us immediately and take the steps necessary to delete the message completely from your computer system. Thank you. Copyright owned by Gold Marketing Agency Inc © 2013-2023

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