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  1. #1

    Seeking, International Factoring, Secured LOCs, &Term loans

    I really need the help of the forum here for the following:
    1) Seeking to onboard a lender that specializes in international factoring
    2) Looking to onboard more SECURED LOC Lenders
    3) I have been met with terrible resistance or lack of someone even replying back to me for term loan lenders. I do NOT want to utilize Smartbiz. Can anyone offer some feedback I would really appreciate any help or guidance?
    4) Lastly, I am looking to continue my onboarding process of Equipment lenders and grow our department to keep up with demand.

  2. #2
    Senior Member Reputation points: 38044 Olderguy's Avatar
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    I can help you with most of those....why don't you just reach out.

    International Factoring Association:
    https://www.factoring.org/

    Newtek - Line of credit:
    collateralized.
    $50,000 -$3,000,000
    Renewable 1 year term
    Minimum 650 credit score (greater above the 650 min the better)
    Collateral – Inventory, Operating Capital (cash), Accounts Receivable can be used for collateral
    Receivables need to be 80-100% advance rate
    Inventory valued 80-100%

    Term loans:
    Most aren't taking on new ISO's. You need to go through a super broker. Splash Advance is one..they take 2%. FundShop is another but they take a bigger chunk.
    They access OnDeck, Kapitus, Headway, etc.
    Smartbiz only accesses banks for SBA uncollateralized and Funding Circle for term loans.
    Max $350,000 uncollateralized. I've had no problem with them on that program. If they fail SBA, they try term loan with Funding Circle. But beware of Funding Circle - they steal your renewals.

    Here's a list of term loan lenders:

    https://www.funderintel.com/businessloanlenders

    Equipment people:

    Some of these I haven't spoken to in a while so personnel may have changed.

    Tony Borchello
    General Manager
    Finance It Forward
    phone: (888) 211-2192
    mobile: (949) 800-5767
    tony@financeitforward.com
    www.financeitforward.com

    Slim
    Joshua Parrishe:
    josh@slimcapital.comw:
    www.slimcapital.comm:
    (310) 499-2562 x203d:
    (415) 938-4977

    Everlasting
    Brian Perry
    Finance Manager | Everlasting Capital
    603-379-1761
    bperry@everlastingcapital.com

    Steve Overlock
    Vice President,
    LendSpark
    D 760-683-8099
    P (888) 444-7069 Ext. 201
    M 760-707-3731
    E steve@lendspark.com
    W www.lendspark.com

    And here's a list of other equpment finance companies:

    https://www.funderintel.com/equipment-finance-companies
    Last edited by Olderguy; 01-21-2023 at 07:45 PM.
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    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.
    @ Homeowner loan 2nd position- 15 year 14% no lien
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  3. #3
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    Joshua Parrish isn’t with Slim anymore

  4. #4
    Senior Member Reputation points: 38044 Olderguy's Avatar
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    Quote Originally Posted by goatFunding View Post
    Joshua Parrish isn’t with Slim anymore
    Can you post who is the contact person is right now?
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    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.
    @ Homeowner loan 2nd position- 15 year 14% no lien
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  5. #5
    Senior Member Reputation points: 178500
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    Quote Originally Posted by Olderguy View Post
    Can you post who is the contact person is right now?
    Jeff Brannon
    jeff@slimcapital.com

  6. #6
    Thank you Steve but I have most of these. I will look into the Equipment side though.
    Regarding the Term loans I am looking for something more Traditional similar to Funding Circle However, I reached out to them numerous times and they seem to be very difficult with onboarding. That link you provided is very interesting I will look further into it. I am also familiar with Credibility Capital, which offers EXCELLENT Rates but is very strict about the FICO, DSCR, and Use of Funds.
    Anyways, Really do appreciate this I am going to reach out to some of these lenders and vet them out. Thank You again!

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