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  1. #1

    Recruiting company in healthcare industry doing $350k annual revenue

    Recruiting company in healthcare industry doing $350k annual revenue
    Credit score 700
    TIB: 5 years
    Wants a LOC and/or business term loan of at least $50k

  2. #2
    Get her a CC stack.

  3. #3
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    Have you tried BlueVine LOC
    Last edited by Olderguy; 03-20-2023 at 05:40 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.

  4. #4
    Banned Reputation points: 4416
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    Is it a recruiting or staffing company? Very big difference in terms of profit margins.

    We can fund a recruiting company. Though we're strictly MCA.

  5. #5
    Banned Reputation points: 10
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    Mar 2023
    Posts
    18

    bizLoans 180X90.jpg
    If the client has a 700 or higher FICO we may be able to help them get up to $250,000 of unrestricted funds and business credit. It does not work for every client but when it does work for a client they usually love it.

    Below is the ISO link to our website and the page on the program that we have that helps high FICO clients who qualify to get between 150K-250K on average regardless of having multiple positions or lower bank deposit volume.

    Our program is personal credit driven. It is excellent for doctors, dentists, attorneys, small insurance agencies, small trucking companies, small construction companies, and any business or professional office where the owner has a 700+ FICO with clean personal credit reports and no reported (to business credit bureaus) bad business credit. So even many high FICO clients with restructured MCA payments can qualify for this program.

    The funding cycle is about 30 calendar days in total if the client has excessive inquiries that need free removal. If not it can be as short as 7 business days. No upfront fees to clients and ISO commissions are 40% of all client fees collected post-funding. Each qualified client gets funded a combination of 3-5, three to five-year small-term loans of $25,000 - $50,000 each (which report on the installment portion of personal credit), and 3-5, 0% intro rate business credit cards of $10,000 - $30,000 each that report only on business credit bureaus and not on the client's personal credit.

    We pay the highest ISO commissions available for this type of program and we also (when necessary) do free 3-bureau inquiry removal for unauthorized inquiries that do not have matching accounts on the client's credit reports.

    If you have been in the business finance arena for a while then you are likely familiar with this type of program.

    Comparable is PFG which pays 2.5% ISO commissions on a 15% client fee sheet. That equals 16.7% of collected fees, and 15% is hard to swallow for many clients.
    Also comparable is F & G which pays 20% of all collected fees on a 9% client fee sheet = 1.8% ISO commissions, but they charge at least $2000 upfront in a subscription fee.

    We allow our ISOs to choose either an 8%, 9%, or 10% client fee sheet and we pay ISOs 40% of that. Either 3.2% on 8%, 3.6% on 9%, or 4% on 10%.

    ISO agreement requests are available by clicking on the link at the bottom of the partner's page. We also have an ISO guide that will explain everything in greater detail.

    https://bizloansinc.com/700-hybrid-funding-program/

    https://bizloansinc.com/partners/

    Dan R.
    CEO
    Biz Loans Inc
    Office: (610) BIZ LOAN
    Cell: (302) 397-3777
    Email: dan@bizloansinc.com
    https://bizloansinc.com
    Last edited by 700+Hybrid; 03-27-2023 at 02:33 PM.

  6. #6
    what is a CC stack?

  7. #7
    Senior Member Reputation points: 216519
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    When you apply for multiple credit cards at the same time without each one knowing about the other tone. Similar to double-funding, but with credit cards.

  8. #8
    send it over, we'd love to work with them - can also come behind another position or potentially beat an offer on the table
    Lynne Ji, Ace Funding Source
    lynne@acefundingllc.com
    (323) 284-6317



  9. #9
    Senior Member Reputation points: 22201
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    I believe hes saying to get a split-cc deal....Unless Ace wants it they are out hustling me plain and simple .... move over for ACE!
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  10. #10
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    As long as most recently filed corp tax return shows a profit (any profit) and at least $50K in gross receipts, this one should qualify for a $50K SBA Micro Loan.... takes 2 - 3 weeks to close and fund. 10 year term, payment would be about $745/month. Soft credit pull must show minimum of 700 Fico 8 score.
    Shannon Harris
    Funding Specialist
    888-705-8818 phone
    239-790-2664 fax
    Shannon@StellarBusinessFunding.com
    www.stellarbusinessfunding.com

  11. #11
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    This would prequalify for the new Fast (BOLT) SBA process, traditional term loan, and LOC products.
    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.

  12. #12
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    A lot of staffing companies use receivables financing to help with their working capital needs. There are plenty of factors that will provide a facility for a healthcare staffing company this small. Term loans, SBA, and LOCs usually don't help as there is a constant need for working capital to meet payroll.

    Way too small for me.......
    Hedley Lamarr......That's Hedley

  13. #13
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    Banks really like professional practice clients. 350k per year can result in 250k or more with one or more legitimate CONVENTIONAL (without an SBA guaranty) credit instruments. Older Guy's call for the Bolt product for 150k is spot on- as long as the client has a strong ETRAN (SBA scoring model) score. Documents needed for conventional credit lines are the same as an MCA: app, 6 banks, driver's license etc.

    Our Partner Banks (names you all know) would probably yield one or more unsecured credit lines for a Health Care practice. Since everyone on this blog understands that Merchants are always seeking more funds, the opportunity to arrange more funds for them increases once they trust you. Bringing them to the Bank fosters trust.

    Video link:

    https://bccusa.com/referral-partners/

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