[JMB]

I have a merchant doing 6 million yearly, solid credit, no advances, has collateral . Merchant is a property management company and is looking for an SBA or Line of credit with low interest rate. If anyone has any suggestions please let me know , thank you. Merchant will also not take a cash advance i know the merchant personally so dont bother suggesting that route.

[omegafund]

Asset Based LOC usually has couple of components
Real Estate
Equipment
AR

If your client has 2 out of 3 then we can arrange a true Revolving LOC

If not I am sure someone can point you in right direction for SBA.

[abfunders]

SBA is for sub-prime clients. Banks who don't like the industry or don't like the client use the SBA guarantee as their fail-safe switch to ge the deal funded. Has the client not approached his local bank yet?

[Olderguy]

Yes, can do SBA as long as it is a true property management company, managing non-owned properties. “Providing a service for others”.

It will not work if the management company is just managing properties owned by the same guarantor. (that would fall under the category of investment real estate).

I use a non bank SBA lender...and have gotten some done in 25 days. This would take a bit longer though. SBA 7A 10.5% 10 year loan. Can use personal assets as collateral.

I may have a LOC option - reach out. As long as they're really a property management company and NOT a real estate agency then we should be able to place it in a LOC program. This is non collateralized and no limit according to credit.

Can also do hard money property loan - DSCR may be 8.5% range, hard money NoDoc or SISA may be in the 12% range - Interest Only fixed for 10 years, then amortized.

[Yankeeman07]

SBA 2023 Lenders Report - SBA Loans takes patience and knowing what documents are necessary to secure.

https://careports.sba.gov/views/7a50...&%3Atoolbar=no