[Incbiz440]

Thought I would put this out here for any ideas as client is open to entertain any options.

Construction company, $300k annual revenue, waiting for an $80k contract payment in a month for a finished project (local government, direct). Needs $56k ASAP to cover payments for equipment. 600s personal credit.

Turned up 4 UCCs; 3 are blanket from the same company and specifically include all equipment so nothing to cash out on (and client confirmed no free and clear equipment). One is for receivables.

Until contract comes through there's minimal income so doing something with a daily or weekly repayment is probably not going to fit well, but definitely looking to PIF as soon as contract payment comes in.

Financial crisis mitigation is not my wheelhouse, but thought I would put it out there if anyone has ideas.

TIA.

[Olderguy]

Does he qualify for a personal loan 650 Fico, based on personal tax return.
Do a Heloc on his primary residence up to 85% loan to value

If 700 Fico I can get LOC uncollaterized up to $250,000

Can be done in a 10 days to 3 weeks.