Results 1 to 11 of 11
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04-29-2023, 03:41 PM #1
Biotech Equipment as collateral?
Hello,
I'm looking for a lender (or someone who can help me place this deal with a lender) that would offer a term loan, or a VERY creative MCA, that was either fully or partially secured against the value of the merchant's biotech equipment & inventory.
Is this something that even could be achieved?
It is my understanding that he essentially has a testing lab, and also sells simple testing kits direct to consumer & wholesale. his personal credit is good not great. The reason it doesn't work for any of the lenders I could use is that his revenue is inconsistent - some months he will gross over $150,000 but other months he'll range from 30k-70k.
please serious solicitations only
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04-29-2023, 03:48 PM #2
What is the value of his equipment?
Is it free and clear?
Is his credit score over 720 for a personal loan?Steve Benjamin
Professional Business Loans
522 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.
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04-29-2023, 04:32 PM #3
value is 1.2m estimated, on which he owes 100k. will have credit report Monday he says it should be 700-710 so unfortunately under 720...maybe there are some easy actions we can take to get it over that threshold.
tib is over 2 years but less than 3 at this point, will be 3 in September
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04-29-2023, 04:33 PM #4
and caleb, gmail? seriously?
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04-29-2023, 05:07 PM #5
I could look at getting him cash out on his equipment and refi the $100K +. I can also submit for a LOC with a 700 score.
Would need a loan app, equipment list and payment coupon (if available) 3 months bank statements and Fico score/report. We can fund these within a week.
Have a separate package for the LOC - special app, tax return, D/L front and back, 3 months bank statements.
I'd submit for both.Last edited by Olderguy; 04-30-2023 at 10:02 AM.
Steve Benjamin
Professional Business Loans
522 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.
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04-30-2023, 08:28 AM #6
- Join Date
- Feb 2017
- Posts
- 3,450
So.... how much does the client need? There's a very creative program I've been doing big things with over the past 5 months for clients with excellent business credit. The fact that he has these leases in place now and he's paying on them should put him in the right threshold, and with a 700+ FICO and 2 years TIB, there's a term program that we could do that could fund in a few days. No tax financials required, and the weird bank statements wouldn't be any challenge here.
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05-01-2023, 01:07 PM #7
- Join Date
- Apr 2017
- Location
- 1301 NJ-36, Bldg#2, Ste#5, Hazlet, Nj, 07730
- Posts
- 143
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05-04-2023, 11:29 AM #8
- Join Date
- Dec 2021
- Posts
- 637
Marcus Clapman
Capybara Capital
marcus@capybarausa.com
www.capybarausa.com
646-708-5986 (Text Friendly!)
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05-04-2023, 11:45 AM #9
Already looking at it.
Steve Benjamin
Professional Business Loans
522 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.
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05-05-2023, 04:35 AM #10
- Join Date
- Oct 2022
- Posts
- 291
I am interested. I work on a ton of equipment files. Can get creative with that asset class. Reach out if you're open to a conversation or if old man river beat me to it.
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05-05-2023, 10:02 AM #11Steve Benjamin
Professional Business Loans
522 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.
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