Results 1 to 11 of 11
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11-30-2023, 05:38 PM #1
- Join Date
- Jun 2020
- Location
- Missouri
- Posts
- 60
Need Lender for Unsecured Business Loans
I need a lender for unsecured business loans, both clients with 700+ FICO scores, both have been in business for several years, one averaging 100k+ per month (landscaping), the other exceeding $1.2MM the last three months (gutter installations). A LOC will work as well for the second one but business loan only for the first.
Tom Harrier
Integrity Commercial Loans, LLC
407-928-8542
broker@tomharrier.net
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11-30-2023, 08:03 PM #2
several SBA - up to $500,000 uncollateralized.
10 year 10.5%, Bolt bit higher in rate
Brickell has an LOC.
If it's A paper, they have a $750,000 program.Last edited by Olderguy; 11-30-2023 at 11:05 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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12-01-2023, 12:29 AM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,993
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
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12-01-2023, 08:50 AM #4Steve 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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12-01-2023, 09:21 AM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Hey Tom,
If they are based in Florida you may want to ping Seacoast Bank. They have been an active SBA lender and or might entertain LOCs. An alternative would be Live Oak Bank. They are one of the largest SBA lenders in the US.Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-01-2023, 09:32 AM #6Steve 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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12-01-2023, 09:42 AM #7
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-01-2023, 09:52 AM #8
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
To add..... I have 4 deals somewhere in my pipeline where the companies are factoring with non-bank factors. All of the non-bank factors are suppressing availability on AR and inventory. Why would they do that if the assets are good and they are more "flexible".... stop with the narrative that non-bank finance companies are more flexible in this environment. in 2014 there were about a dozen bank owned finance companies in the US. Today there is over 50. Hell.....I discovered a new one this morning.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-01-2023, 10:04 AM #9
Maybe so with the bank you deal with, and I'll look into that source for sure, but be realistic...every broker that calls me with a denied SBA file, it's because their SBA bank denied the file. Typically requiring 51% O/O commerical property and no personal assets allowed. And yeah it varies but that the general situation. On the other hand, you're right too. And the damn guidelines are changing all the time....now many are requiring 1.1 assets for truckers due to defaults.
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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12-01-2023, 10:12 AM #10
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-01-2023, 10:39 AM #11
May your mind be unboggled for the new year. You are being judgemental and not constructive. I have several lenders I deal with that work with me and the merchant to get files across the finish line..and we all work together on that.....I meet new ones all the time..some banks for 504..some non banks for 7A....instead of being critical in your post, why not post up contact information. I no longer work with some lenders, like NewTek as their service level has deterioriated significantly. Two of my lenders are out of the box now for truckers (I funded a trucker for $900K last month that this lender won't do now) but I have new ones (not SBA) who can use assets, A/R, inventory...and we are reviewing master credit lines to get trucks off balance sheet to be sale leaseback instead of purhase to reduce the debt. Guidelines are moving, alternatives are being pursued....it is what is it.
And we have a client now that has a SBA 7A through Byline bank....they will subordinate their A/R and inventory collateral for a larger term loan instrument we are working on to get this client in the $12MM term loan range. (Mainly due to the relationship of the bank with the merchant)
Lastly if the merchant has enough assets, yes you don't need to collateralize A/R or inventory.Last edited by Olderguy; 12-01-2023 at 08:06 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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