[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-