Results 1 to 4 of 4
-
12-28-2022, 07:39 PM #1
- Join Date
- Sep 2022
- Posts
- 12
Equipment Loan for 4th or higher positions
We have been on hunt for direct funders who may be able to fund 4th position or higher for equipment.
Even though average monthly Revenue is at $200,000 there is already about $300,000 out standing balance on other equipment loans. Currently free cash flow look to be about $50K, so seems like it should support equipment loans with collateral. Also, can put 20% down on equipment.
Preferably looking for direct lender that emphasize equipment collateral help with underwriting.
Anyone got any suggestions? Thanks
-
12-28-2022, 08:09 PM #2
Equpment isn't 4th position loan. It is a loan collateralizing the equipment. ABL - asset bsed lending...It isn't a MCA loan. It is usually a lease with a $1 purchase at the end of the lease. Most are 4 years to 7 year terms. Send me a loan app, bank statements and an invoice on the equipment. I also need the Fico. I've done 100% financing on client with 580 Fico.
Last edited by Olderguy; 12-28-2022 at 10:23 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.
-
12-29-2022, 12:00 AM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,952
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
-
12-29-2022, 06:36 AM #4
- Join Date
- Oct 2022
- Posts
- 281
I would simply see if they qualified for the SBA7a and use the funds for debt refinance and purchase of equipment. I might even be able to help you with a traditional term loan product. If you are interested reach out to me Elon Henek 1-516-236-4086.
Similar Threads
-
Need Asset-Based Loan Using about $1.5 million in Farm Equipment for $500,000 Loan
By Fundyman in forum Deal BinReplies: 4Last Post: 04-11-2020, 11:56 PM -
Restaurant Consolidation 3 positions- term loan PLUS 150K LOC
By RichardGerard in forum PromotionsReplies: 0Last Post: 10-10-2019, 02:43 PM -
Equipment Loan
By fund$ in forum Deal BinReplies: 7Last Post: 08-09-2019, 09:29 PM -
Loan ME vs 1st positions
By Don Dolla in forum Merchant Cash AdvanceReplies: 1Last Post: 08-13-2018, 03:02 PM -
BP Gas looking for $250,000 on a 3-5 year unsecured term loan at no higher than 12%
By Fundyman in forum Deal BinReplies: 9Last Post: 09-24-2015, 02:08 PM