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  1. #1

    Client looking for $10M loan for a new business venture, what are his best options?

    I have a client who owns multiple high 6 figure revenue producing businesses in the VR/AR gaming, and crypto mining field. His partners built him a 1Mil square foot facility (100 truck bays)he needs the money to put together a massive entertainment/ fun center in NJ. What are his best options as far as the right type of loan for him.

  2. #2
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    Does he have 20% cash contribution? Does he own the building or leasing it from his partners? I have a lender that can do up to $15M like a SBA scenario, and another that can go higher but need more information. Pitch deck available?
    Last edited by Olderguy; 03-22-2023 at 01:34 PM.
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    Quote Originally Posted by bcifone View Post
    I have a client who owns multiple high 6 figure revenue producing businesses in the VR/AR gaming, and crypto mining field. His partners built him a 1Mil square foot facility (100 truck bays)he needs the money to put together a massive entertainment/ fun center in NJ. What are his best options as far as the right type of loan for him.
    Looks interesting. Debt and equity options available

    bzuniga@omegafund.com

  4. #4
    If your client is interested in an 80% ltv loc, we can get him min $10M-$90M, with 5% i/o quarterly payments - up to ten(10) year terms.

    Nknowvative@gmail.com
    (209)881-4410

  5. #5
    With such a massive project, a standard business loan might not cut it. Instead, they should consider a commercial real estate loan if they're buying or renovating a physical property or a large equipment loan if they're investing in high-tech machinery for that VR/AR gaming hub.
    Also, they should look into SBA 7(a) loans. They offer generous amounts and terms, but approval can be tough. On the crypto side, some companies offer loans backed by crypto assets, which could be an option if they're holding a lot of it.
    I recently penned an article about this on my blog. You might find some more insights if you go to this website. It's all about different types of business loans and how to navigate them.
    Last edited by Markt; 05-16-2023 at 11:06 AM.

  6. #6
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    I would look into potentially a traditional term loan because of the cross collateralization of ALL the entities. It is also more flexible with the use of proceeds.

  7. #7
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    Quote Originally Posted by bcifone View Post
    I have a client who owns multiple high 6-figure revenue-producing businesses in the VR/AR gaming and crypto mining field. His partners built him a 1Mil square foot facility (100 truck bays)he needs the money to put together a massive entertainment/ fun center in NJ. What are his best options as far as the right type of loan for him?
    I have a lender who specializes in just crypto and emerging tech feel free to reach out via pm. if the building is already built and he just needs to furnish it this doesn't sound all that difficult.

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