Need a Funder or Vendor? START HERE

Results 1 to 5 of 5
  1. #1
    Senior Member Reputation points: 54
    Join Date
    Mar 2016
    Posts
    120

    MCA consolidate to term loan

    Who has a true MCA consolidation from weekly payments to monthly long term?
    Client has 4 positions totalling $302k. Making their payments but want out of the weekly pmts.

    Anyone doing a 3 to 5 year term on these with monthly payments and much lower interest rate?

    See signature for direct contact info.
    Mike Lewis - commercial real estate loan broker / owner
    No up front fees loan broker
    Commercial real estate loans: Acquisition, refinance, construction and FAST bridge loans from $200k +

    tel/voicemail: 937-964-5355
    cell/voicemail: 440-637-5646
    corporate email: mikelewis@michaellewisgroup.com

    www.linkedin.com/in/cigarmike

    Veteran Owned

    WE CO-BROKER with an even 50/50 split and we both get paid by wire at close.

    We issue a combination mutual NDA / fee split, you introduce your CRE clients to us stating simply we handle your commercial real estate loans, we take it from there and keep you in the loop. When a loan you referred closes, you get paid at close by wire.If you can work with that please do not hesitate to contact us. Our loan forms are vanilla with no company name.

    Michael Lewis Group Commercial real estate loans

    http://michaellewisgroup.com/index.html

    Loan Matrix

    Forms

    About Us

    Discounted cell phone plans starting at $15 / month. AT&T from $30/mo, T-Mobile from $15/mo, Verizon from $35/mo.

    http://arthodyd.com/d.html

  2. #2
    Senior Member Reputation points: 66298 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,086

    Mike - SmartBiz uncollateralized SBA $350,000 10 years 10%, Funding Circle 5 years in the 20's. Do they qualify? Need cash flow, Fico, making money....Channel Partners offers monthly but probably not work here. Also personal loan up to $250,000 if Fico over 700, gross income from personal tax return. Reach out if you need help. And you would know if they have property for hard money. Assets for ABL? A/R?
    Last edited by Olderguy; 02-01-2023 at 05:27 PM.
    Steve Benjamin
    Professional Business Loans

    1012 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.

  3. #3
    no reason to go to smarbiz, they are a sba broker shop. just find a few small or lager sba lenders and go direct. send deal to me. ill do it for 1% fee. 7a or 504 sbas.

  4. #4
    Senior Member Reputation points: 54
    Join Date
    Mar 2016
    Posts
    120

    Oh... they're making $. Started 2008, like I said able to make their payments ok, just don't want the weekly payments and the principals FICO is 720.

    They want to consolidate the $300k, and get an additional $200k +/- for opex. So over all a $500k term loan.

    Term doesn't necessarily need to be 5 years and a quicker close than later is desired.

    But definitely not another MCA consolidating all of this. And no ABL as they lease the building.

    This is not my forte as I do CRE based loans so looking for feedback.

    Bur yeah, cash flow, decent credit, paying salaries etc...
    Mike Lewis - commercial real estate loan broker / owner
    No up front fees loan broker
    Commercial real estate loans: Acquisition, refinance, construction and FAST bridge loans from $200k +

    tel/voicemail: 937-964-5355
    cell/voicemail: 440-637-5646
    corporate email: mikelewis@michaellewisgroup.com

    www.linkedin.com/in/cigarmike

    Veteran Owned

    WE CO-BROKER with an even 50/50 split and we both get paid by wire at close.

    We issue a combination mutual NDA / fee split, you introduce your CRE clients to us stating simply we handle your commercial real estate loans, we take it from there and keep you in the loop. When a loan you referred closes, you get paid at close by wire.If you can work with that please do not hesitate to contact us. Our loan forms are vanilla with no company name.

    Michael Lewis Group Commercial real estate loans

    http://michaellewisgroup.com/index.html

    Loan Matrix

    Forms

    About Us

    Discounted cell phone plans starting at $15 / month. AT&T from $30/mo, T-Mobile from $15/mo, Verizon from $35/mo.

    http://arthodyd.com/d.html

  5. #5
    Senior Member Reputation points: 66298 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,086

    Quote Originally Posted by Thegoodbroker View Post
    no reason to go to smarbiz, they are a sba broker shop. just find a few small or lager sba lenders and go direct. send deal to me. ill do it for 1% fee. 7a or 504 sbas.
    Let me clarify this for Mike and others who might be interested. I posted this in case Mike might want to go direct and sign up on these funding options. SmartBiz has several banks to submit and audit a file and they are very helpful in guiding you through the process. In addition, they will pay you 2% which is the same commission you would get with a direct SBA bank. And SmartBiz also will submit your file to Funding Circle for a term loan if the file gets denied for a SBA loan. I posted that for those that are looking to sign up for someone who can access and help for these loans. Anything over $350,000 is collateralized and I have direct connection with management at NewTek for those loans. Newtek is the largest non bank SBA lender in the US and you always want to use a non bank SBA lender as they have more flexible guidelines and will allow a merhant to collateralize business and personal assets. Again I encourage any to reach out to me if they need help with any of this.
    Steve Benjamin
    Professional Business Loans

    1012 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.

Similar Threads

  1. Replies: 1
    Last Post: 09-01-2021, 12:40 PM
  2. Replies: 0
    Last Post: 09-01-2021, 12:13 PM
  3. Expansion/Growth Loan $350k, Term Loan Needed
    By Mako284 in forum Deal Bin
    Replies: 3
    Last Post: 10-23-2018, 09:51 AM
  4. Replies: 14
    Last Post: 04-17-2017, 06:30 PM
  5. Replies: 4
    Last Post: 10-21-2014, 04:32 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY