3 Location Auto Shop on track for $5M needs $500K
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  1. #1
    Senior Member Reputation points: 1393
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    3 Location Auto Shop on track for $5M needs $500K

    Merchant is doing $3M annually, on track to do $5M this year.

    Looking for $350K to $500K at a sizeable term, nothing less than 24 months but preferably 36-48.

    Thanks in advance for any suggestions. Please do not inquire about co-brokering.

  2. #2
    Senior Member Reputation points: 10476
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    Quote Originally Posted by Quickfunder View Post
    Merchant is doing $3M annually, on track to do $5M this year.

    Looking for $350K to $500K at a sizeable term, nothing less than 24 months but preferably 36-48.

    Thanks in advance for any suggestions. Please do not inquire about co-brokering.
    Will the merchant take 8-12 months if qualified and then add on renewals that work like a line of credit where he will get a lote more than 300-500k over 36 mionths at a cheaper cost.

  3. #3
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    Quote Originally Posted by Quickfunder View Post
    Merchant is doing $3M annually, on track to do $5M this year.

    Looking for $350K to $500K at a sizeable term, nothing less than 24 months but preferably 36-48.

    Thanks in advance for any suggestions. Please do not inquire about co-brokering.
    Iou but it may be too small for their 2+yr terms
    Biz2credit
    Fundingcircle and fundation and credibility capital
    Perhaps credibly
    Tvt goes out 24m on monthly if he has good financials

    I'm not sure who else would do 24m... why not get him a cc split? It's more cash flow friendly. Quikstone does them.

  4. #4
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    Zonefund said it right. If each location is a different LLC, collect docs for each location and submit each location separately, but to the same funder. Did you try LoadBud, as an SBA alternative? Won't get to $500k (max $150k+$150k), but at least it will get the 10-year term. Then stack them with an MCA if they so desire. Blended rate at and blended time... the math should work out.

  5. #5
    Senior Member Reputation points: 218103
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    Of course I forgot about one lender who will do it. They go out 2-3 years with a LOC if the deal merits it. Contact me, let me put you in direct contact with the lender, no middle man necessary, other than my introduction.

  6. #6
    Senior Member Reputation points: 81657
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    Quote Originally Posted by Quickfunder View Post
    Merchant is doing $3M annually, on track to do $5M this year.

    Looking for $350K to $500K at a sizeable term, nothing less than 24 months but preferably 36-48.

    Thanks in advance for any suggestions. Please do not inquire about co-brokering.
    You should be looking at a SBA7(a) Term Loan -
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  7. #7
    Quote Originally Posted by Zonefund View Post
    Iou but it may be too small for their 2+yr terms
    Biz2credit
    Fundingcircle and fundation and credibility capital
    Perhaps credibly
    Tvt goes out 24m on monthly if he has good financials

    I'm not sure who else would do 24m... why not get him a cc split? It's more cash flow friendly. Quikstone does them.
    Hi,

    Please share your contact at Fundation.

    Thank you,
    Mike

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