General Contractor looking for $20K LOC
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  1. #1

    General Contractor looking for $20K LOC

    I have a client he is a certified general contractor looking for a line of credit for $20K. He wants monthly payments. Client states that daily payments are tough in his industry. He has had two prior MCAs which he has paid off. Has been offered 3 MCAs and declined them bc of the daily payments. He wants to start a job which will have an upfront cost ~$20K and will be billed to the government. It's essentially a government project.

    TIB 35 years.
    FICO: 600
    Jan - $85K
    Dec - $30K
    Nov - $65K

    Can anyone recommend a direct funder that can help? Thanks

  2. #2
    Senior Member Reputation points: 72398 Olderguy's Avatar
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    Irvine, CA
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    Cash out on any vehicles or assets he has that are free and clear. Can get that funded in a week. 20% to 25% interest, maybe 3 years - monthly payment.

    Reach out to Tony if that's the case.

    Tony Borchello
    First Financial
    (888) 211-2197
    mobile: (949) 800-5767
    tonyb@firstfinancialweb.com
    Last edited by Olderguy; 02-24-2024 at 12:37 AM.
    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.

  3. #3
    Senior Member Reputation points: 1755
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    Does he have other purchase orders with the government?
    Elon Henek
    HCI - Glen Cove, NY
    Main: 1-516-676-1854
    Cell: 1-516-236-4086

  4. #4
    Sent you a PM.

  5. #5
    Quote Originally Posted by burtMCA View Post
    I have a client he is a certified general contractor looking for a line of credit for $20K. He wants monthly payments. Client states that daily payments are tough in his industry. He has had two prior MCAs which he has paid off. Has been offered 3 MCAs and declined them bc of the daily payments. He wants to start a job which will have an upfront cost ~$20K and will be billed to the government. It's essentially a government project.

    TIB 35 years.
    FICO: 600
    Jan - $85K
    Dec - $30K
    Nov - $65K

    Can anyone recommend a direct funder that can help? Thanks
    Maybe advance on the contracts like mobilization funding, but if he just needs a one-off $20k that limits options.

  6. #6
    Senior Member Reputation points: 4567 NickHubbard's Avatar
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    Saint Louis, Mo
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    Quote Originally Posted by burtMCA View Post
    I have a client he is a certified general contractor looking for a line of credit for $20K. He wants monthly payments. Client states that daily payments are tough in his industry. He has had two prior MCAs which he has paid off. Has been offered 3 MCAs and declined them bc of the daily payments. He wants to start a job which will have an upfront cost ~$20K and will be billed to the government. It's essentially a government project.

    TIB 35 years.
    FICO: 600
    Jan - $85K
    Dec - $30K
    Nov - $65K

    Can anyone recommend a direct funder that can help? Thanks
    https://mobilizationfunding.com/
    Nick Hubbard
    Senior Loan Advisor
    314-252-0299 - Office
    314-885-2262 - Direct
    nick@elitefactoring.com
    www.elitefactoring.com

  7. #7
    Sent you a reply via pm.

  8. #8
    I think that size advance is under their cutoff, but doesn't hurt to check.

    And they pay 1%.

  9. #9
    thank you.

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