Results 1 to 9 of 9
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09-14-2023, 09:49 AM #1
- Join Date
- Jul 2021
- Posts
- 46
R.E. Collateral Lender/MCA needed $500k with $4 million equity, 2nd.
I am looking for a lender who will do RE collateralized $500-600k MCA or Hard money. Need 18 month term. $4.7 million equity. The complex was purchased in late July for $13.3 mill, First mortgage for 9.7 mill,, Need immediately. Appraisal done, Revs in August $500k,, July and June $140k. Strong scores,,
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09-14-2023, 09:57 AM #2
He current loan to value is 75%. Most lenders have seasoning for hard money. Some private money guys have no seasoning...but, they are keeping close to the vest nowadays. Hate to suggest Ironwood or WBL.
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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09-14-2023, 11:00 AM #3
- Join Date
- Jul 2021
- Posts
- 46
Thanks Steve
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09-14-2023, 12:37 PM #4
- Join Date
- Feb 2017
- Posts
- 3,463
WBL will only go up to 65% CLTV. Ironwood probably won't do much more either.
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09-14-2023, 12:44 PM #5
Primary residence loan amount and value?
Any investment property?
Personal loan if Fico 700+
Any equipment or other assets would get an asset based loan?
A/R aging?
Purchase orders?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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09-14-2023, 01:31 PM #6
- Join Date
- Oct 2012
- Posts
- 142
So are they looking for hard-money $500-600k plus $4 million equity?
Howie Dane
President
Funding Sources for Business
president@fundingsourcesforbusiness.comHowie Dane
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09-14-2023, 02:53 PM #7
- Join Date
- Jul 2021
- Posts
- 46
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09-14-2023, 03:32 PM #8
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,996
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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09-14-2023, 03:38 PM #9
Instead of suggesting a solution, how about doing a complete financial review to see what options are available....Dave and I have both offered some alternative suggestions. Clearly what they want isn't available - they don't qualify....so let's look at what else we can do.
Last edited by Olderguy; 09-14-2023 at 05:24 PM.
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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