Results 1 to 21 of 21
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08-30-2022, 06:49 PM #1
- Join Date
- Aug 2020
- Location
- 7125 Peri Lane Brooklyn Ny 11234
- Posts
- 113
Furniture Store looking for 1st position deal
Furniture store looking for 150k or more. No nsfs, negative days, owner has excellent credit and nothing outstanding. But will not take any deal with a PG or that requires taxes to be sent.
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08-30-2022, 08:12 PM #2
Are they making money on their tax returns? Do a non collateralized SBA 7A at SmartBiz. Takes a month. 10 years 7%.
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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08-31-2022, 10:23 AM #3
- Join Date
- Feb 2017
- Posts
- 3,429
Steve, he said no PG.
What about a validity guarantee?
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08-31-2022, 10:39 AM #4
You're right - I read that wrong...
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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08-31-2022, 10:46 AM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,485
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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08-31-2022, 11:41 AM #6
- Join Date
- Nov 2019
- Posts
- 676
If the merchant does not want any pg and to send tax returns only possible funding out there will be a high risk shorter term deal. All the funders i know of once the offer hits 6 figures want tax returns.
Over 12 years of experience in just this industry alone if the merchant is not looking to send information especially tax returns on that size of a deal and no type of pg then they are probably hiding something and will possibly default.
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08-31-2022, 12:48 PM #7
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 474
What does revenue look like... but I'd say Ondeck, Rapid Advance & Forward Finance would be my first round of submissions if this was my file.
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08-31-2022, 01:25 PM #8
- Join Date
- Feb 2017
- Posts
- 3,429
Hold on a minute.... are you all saying that MCAs have to have PGs? Doesn't that kinda destroy the whole concept of an MCA and turn it into a real loan? OnDeck and Bluevine for example have PGs, they're a rent-a-bank models. IOU has one for sure, they don't need tax returns, but they have a PG.
Sorry Hedley, what I meant instead of VG was a Performance Guarantee.
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08-31-2022, 01:41 PM #9
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,485
Call it performance, validity, or personal....... Why in the world would any lender/funder with a brain offer a 150K loan without any form of guarantee for a business this small. Larger deals for more sophisticated companies yes. This business owner want something small with no rules.....NO Thanks.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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08-31-2022, 01:55 PM #10
If the client doesn't want a MCA loan, then look into a personal loan and Micah can do that through The Funding Group. You can get up to your gross annual income from a W-2 or 1099 It's 3 - 5 Years 8% and up, monthly payment and there is no personal guarantee...it's a signature loan. If there is more than one owner, each owner can get a personal loan.
I do these for cannabis business owners as the rate and terms are much better than cannabis MCA's.Last edited by Olderguy; 08-31-2022 at 01:58 PM.
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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08-31-2022, 02:28 PM #11
- Join Date
- Feb 2017
- Posts
- 3,429
Steve, again, remember.... no PG. Personal loans automatically come with a PG.
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08-31-2022, 02:38 PM #12
Last edited by Olderguy; 08-31-2022 at 02:42 PM.
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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08-31-2022, 02:50 PM #13
- Join Date
- Nov 2019
- Posts
- 676
It is a pg as long as the business is open and operating for most companies. Even if they sign one or not and they default funders will still try to go after there money.
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08-31-2022, 02:53 PM #14
- Join Date
- Feb 2017
- Posts
- 3,429
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08-31-2022, 02:56 PM #15
A signature loan is a unsecured personal loan. Think on it....they can't attach any of your assets with a personal loan as it's isn't a PG.
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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08-31-2022, 03:07 PM #16
- Join Date
- Feb 2017
- Posts
- 3,429
Steve, I spoke with Sean. All personal loans require both a PG and income verification, which includes tax returns and W2/1099's. Rarely will you get it done on W2's alone, but OP also said no tax returns.
But Magicmike18, I just realized that there is one program. It's not cheap, but it has no tax returns and no PG.
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08-31-2022, 03:10 PM #17
Interesting because Jean said no PG....LOL
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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08-31-2022, 03:32 PM #18
- Join Date
- Feb 2017
- Posts
- 3,429
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08-31-2022, 03:54 PM #19
- Join Date
- Jul 2015
- Location
- Tampa Florida
- Posts
- 499
Contact me if they are open to a credit card split deal.
I can get by without a tax return but will need year to date profit and loss statement with balance sheet OR POS system total year to date sales report.
They would only be guaranteeing the performance of the businesses credit card sales.Jason H l Sales & Business Development
Quikstone Capital Solutions l Tampa FL
Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
Jason.Hausle@quikstonecapital.com
www.quikstonecapital.com
Direct Lender Since 2005
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08-31-2022, 05:09 PM #20
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 727
Iou
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08-31-2022, 06:59 PM #21
- Join Date
- Aug 2020
- Location
- 7125 Peri Lane Brooklyn Ny 11234
- Posts
- 113
Hes not hiding anything I have all the taxes hes just showing losses and doesn’t want to provide that since he isnt going for any sort of actual business loan and is looking for mca maybe max 12 months. Also he doesnt want personal gurantee because he isn’t in the best health.
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