[Incbiz440]

Good evening DF crew-

Riddle me this:

For profit school (trade), 700s credit, 600k+ revenue, profitable, over ten years TIB, 1st UCC on receivables that could be taken out on a refi, F&C residential property with modest market value.

Looking for around 100k for either working capital, refi, or a mix of both. Client has a cash flow crunch over the next couple of months due to an unfortunate choice of taking a high rate weekly payment loan combined with pending AR, so refiing out of that would fix a big part of the issue, or working capital would get them through the crunch to where the problem loan can be retired with upcoming receivables. From there has some working cap needs for a project that is in process but also being delayed because of current crunch.

Still got some options going, but so far I have run into:
Bank/SBA - all good but hit a weird issue that is resolvable but don't have time to unwind at the moment, which was bank not SBA policy.
ABL - value of property was under lender minimums
Non-bank LOC - Liquidity
Non-bank term lender - Industry

Prioritizing speed over rate (client is reasonable), ideally looking for something with monthly payments, reasonable amortization schedule, and not beyond what would typically be usurious cost. Looking to improve situation for client not dig deeper or drag it out.

TIA-

[Olderguy]

School might be an issue...can do low loan amounts....but if rural will be difficult....issue wil be comparables in the area also which might kill it. Can do Heloc on primary residence, hard money on property if investment. Basically usually get 10 year I/O with 20 amortized, and can do 30 amortized. 10.99% rate, 7.25% if DSCR. Just need more information

Borrower:

Property Address:

Property Type:

Loan Type: PURCHASE / REHAB / REFINANCE

Loan amount Requested:

If Refinance - Purchase Price / Purchase Date / Mortgage Balance

Purchase Price / Market Value:

Rehab Costs:

LTV Requested:

ARV Requested:

Credit:

Experience:

Property Details:

Reach out...there's gotta be a loan or two in there someplace...

[Incbiz440]

School might be an issue...can do low loan amounts....but if rural will be difficult....issue wil be comparables in the area also which might kill it. Can do Heloc on primary residence, hard money on property if investment. Basically usually get 10 year I/O with 20 amortized, and can do 30 amortized. 10.99% rate, 7.25% if DSCR. Just need more information

Borrower:

Property Address:

Property Type:

Loan Type: PURCHASE / REHAB / REFINANCE

Loan amount Requested:

If Refinance - Purchase Price / Purchase Date / Mortgage Balance

Purchase Price / Market Value:

Rehab Costs:

LTV Requested:

ARV Requested:

Credit:

Experience:

Property Details:

Reach out...there's gotta be a loan or two in there someplace...

Thanks for the reply. Yes, so far falling in the cracks, which is frustrating as it's really not a bad profile on the whole.

If we look at solely secured by RE any likely LTV isn't going to hit the client's ideal amount but it would still put a nice dent in the cash flow crunch.

Had another possibility come through so will work on that angle. May reach out though. Would really like to get the client over this bump in the road.

[Ehenek]

I have some experience with for profit schools. Please send me a DM or call me on Monday we can discuss.