Results 1 to 12 of 12
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12-06-2022, 05:35 PM #1
- Join Date
- Oct 2022
- Posts
- 291
In need of an ABL (NOT WBL)
Can anyone help?
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12-06-2022, 05:41 PM #2
What exactly are you seeking?
Reach out to me and I can probably help.
There are several options depending on your situation
If it's property:
https://dailyfunder.com/showthread.p...siness-LendersSteve 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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12-09-2022, 02:26 PM #3
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 730
Benjamin Zuniga
Omega Funding LLC
www.omegafund.com
bzuniga@omegafund.com
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12-09-2022, 03:22 PM #4
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,976
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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12-09-2022, 04:57 PM #5Steve 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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12-11-2022, 08:11 AM #6
- Join Date
- Jun 2015
- Posts
- 3,325
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12-11-2022, 09:21 AM #7
They are a MCA lender that collateralizes their loans with property. Plenty of bad publicity about the way they operate. Investige and see if there are better options out there. I can do hard money at much lower cost than what they offer. Their terms are a complete rip off.
I have a hard money lender that can do a loan with no Fico restrictionLast edited by Olderguy; 12-11-2022 at 09:23 AM.
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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12-11-2022, 11:56 AM #8
- Join Date
- Feb 2017
- Posts
- 3,450
WBL is not an MCA lender, there's no such thing. They are a true lender (or at least rent-a-bank), and if someone declares BK, they have to go through the bankruptcy courts like everyone else. The rep who I work with over there was 100% transparent with me about everything, and we worked really well, and it's a shame that we have to pause. He fought tooth and nail for everything with me.
What is/was always cheaper about WBL is that you didn't have to refi the first position. You have a 3.5% 1st position at 50% LTV over 30 year amort? Keep it! To refi and restart the amortization process is expensive. If you needed 2-3% per month, an MCA is much much more expensive. And who would give you a loan with 5-10 NSFs/month and a collections on your file?
Of course simple hard money is cheaper in theory! But not everyone has a property they want to refi the first position on, or their credit is in the 500s and there's a tax lien that a hard money lender may or may not be willing to take care of. WBL lends on dry land and on industrial properties that aren't specifically income producing (owner occupied). Office space that has been vacant for a year and they just want 35% LTV for renovations? I personally financed an industrial airplane repair facility that was basically shut down for COVID with $1mm with them in May 2020. They saved MANY merchants during the pandemic when nobody else was funding. WBL is/was an outside the box solution for outside the box situations.
Mike, you can't always save the day with hard money, and not everyone has the time or energy or even qualifies for an SBA.
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12-11-2022, 01:25 PM #9
Confirmed no longer funding as of last week:
https://debanked.com/2022/12/wbl-exp...ther-fundings/
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12-11-2022, 01:38 PM #10
MCA lender I'm meaning MCA rates. I have hard money lenders that have no Fico restriction and also have some that can can do second position on commercial property.
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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01-10-2023, 03:14 PM #11
- Join Date
- Jul 2017
- Location
- FL
- Posts
- 35
Good luck!
Last edited by ABL Rob; 07-20-2023 at 03:36 PM.
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01-16-2023, 09:26 PM #12
- Join Date
- Sep 2022
- Location
- Lakewood, NJ
- Posts
- 51
What type of ABL and how much? Sale Leaseback or collateralized?