Results 1 to 5 of 5
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04-24-2023, 04:10 PM #1
$50,000 Loan Repayable in 60 Days?
This is certainly not your average loan request, but I have a borrower in face of a great opportunity, but extremely short on time.
In a nutshell, this is a business owner from Massachusetts who needs $50K (preferably as a personal) by Thursday latest, & will sign any reasonable interest on 2 months term for maturity as long as the note can happen & funding take place by this Thursday. The note will be repaid through a local business loan program which will be obtained within 30-45 days, also concurrent with a major business project that is already underway.
The borrower has real estate & wouldn't mind even securing the note with real estate. The only hurdle is they know whoever lends is likely to want to do a title search, which would all take too long (unless you can do a title search in one day).
If you have a way to tie in the real estate into the note, that's perfectly fine. Whatever makes you comfortable, as long as you're able to fund by this Wednesday/Thursday.
Don't accuse me of delusion. I'm throwing it out there not as a standard loan, but a one-time request. Any investor who wants to make a quick sizable return on their money, let me get a PM, especially if we've entertained these out-of-box types of deals in the past. Let me know if you have any interest & we can set up a conference call to discuss the details & answer necessary questions.
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04-25-2023, 11:54 AM #2
Anyone know if such a loan can be done quickly? The real estate can be used as security in 2nd position, but the time constraint makes it a huge challenge. I know lenders in the likes of WBL/Happy Rock used to do MCAs w/ real estate attached, but not sure what's going on now in terms of quick funds w/ RE attached..
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04-25-2023, 11:59 AM #3
- Join Date
- Nov 2013
- Posts
- 600
Maxim would do RE secured back loans, timing would be tough to do in days....Best bet is to get him short term MCA with aggressive early pay discount while working on the exit strategy of a RE backed loan. With time constraints beggars cant be choosers.
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04-25-2023, 01:50 PM #4
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05-03-2023, 02:56 PM #5
- Join Date
- Jun 2022
- Posts
- 86
we can do an advance if the business can show revenue.
Eugene@equitaadvance.com
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