Results 1 to 19 of 19
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12-12-2022, 02:10 PM #1
- Join Date
- Dec 2016
- Posts
- 379
WBL suspends funding
I just received the following e-mail:
Important Update from World Business Lenders
Dear Partner,
Our Company has experienced unplanned growth this year given market conditions. As a result, we have fully deployed our existing credit availability and must therefore suspend any further fundings until additional lending capacity is installed. Current loans in the pipeline will continue to be processed.
During this interruption in our business, and while we continue discussions with alternative capital sources, we are also taking other initiatives to optimize our business model. We will continue to keep you updated as we go.
World Business Lenders, LLC
P.O. Box 479
Elmsford, New York 10523
(888) 819-1746
info@wbl.com
www.wbl.com
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12-12-2022, 02:19 PM #2
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 728
Yup more to the story I imagine.
We are still funding commercial real estate from $500k-$25M
www.omegafund.com
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12-12-2022, 02:32 PM #3
- Join Date
- Jun 2015
- Posts
- 3,325
anyone will do owner occupied beside them ?
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12-12-2022, 03:03 PM #4
Try for business purposes...Maxim Commercial Capital...
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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12-12-2022, 03:33 PM #5
- Join Date
- Dec 2021
- Posts
- 637
The wording of that letter is very interesting.
Marcus Clapman
Capybara Capital
marcus@capybarausa.com
www.capybarausa.com
646-708-5986 (Text Friendly!)
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12-12-2022, 04:12 PM #6
- Join Date
- Oct 2021
- Posts
- 86
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12-12-2022, 04:42 PM #7
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12-12-2022, 04:42 PM #8
- Join Date
- Feb 2017
- Posts
- 3,433
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12-12-2022, 05:09 PM #9
- Join Date
- Jun 2015
- Posts
- 3,325
what i don't get is funders doing well can never run out of money completely . You might have to dial back a little but if you are funding let say 5 mill a month on an average (they claimed they were doing more )and terms of 6-24 months deals . You should have at min 3 mill coming in each month that you can put back out ? story does not add up
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12-12-2022, 05:33 PM #10
A lot of the money comes from hedge funds and then are cutting back their lines to reduce risk. And I think they expect to see defaults increase.
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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12-12-2022, 05:41 PM #11
- Join Date
- Apr 2020
- Posts
- 127
People probably aren't making payments, so they are focusing all of their efforts on drafting eviction notices and throwing their families out on the street so they can sell their primary home
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12-12-2022, 06:27 PM #12
- Join Date
- Oct 2021
- Posts
- 86
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12-13-2022, 09:08 AM #13The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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12-15-2022, 09:46 AM #14
- Join Date
- Jul 2022
- Location
- NYC
- Posts
- 34
We are still funding Knightsbridge Funding
Below are the guidelines. We will have numbers for you within 2 hours
500 Min FICO score
30k Min bank deposits
Daily/Weekly achs
2nd-5th positions
Upfront underwriting
12 points commission
Gary Lucien
Business Development Manager
Knightsbridge Funding LLC
40 Wall St
New York, NY 10005
Direct: 1 (718) 207-4804
Email: Gary@knightsbridgefunding.com
www.knightsbridgefunding.com
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12-15-2022, 12:35 PM #15
- Join Date
- Aug 2017
- Posts
- 249
It looks like they're hiring aggressively over in Turkey.
https://www.wbl.com/careers/
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12-15-2022, 12:41 PM #16
- Join Date
- Feb 2017
- Posts
- 3,433
That's because during COVID their head underwriter who is Turkish moved there to avoid the lockdowns, and he's living like an absolute KING on an American salary in a third world country. All of their reps are working remote somehow. (Like I said - the relationship I have with my rep over there is quite strong.)
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12-15-2022, 01:06 PM #17
- Join Date
- Aug 2017
- Posts
- 249
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01-30-2023, 11:14 AM #18
- Join Date
- Jul 2022
- Posts
- 1
I think it's BS, it's an issue with their 1 day rent a bank.
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01-30-2023, 03:04 PM #19
- Join Date
- Sep 2021
- Posts
- 190
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