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03-05-2024, 08:10 PM #1
- Join Date
- Dec 2023
- Posts
- 45
Thanks for asking and good question. I'm referring to next tier or two down after bank/SBA eligible, where credit may be moderate but not awful, TIB may be shorter, industry may be on the high risk list (meaning construction, not strip clubs, for example), equity injection may be lower, BK more recent than 7-10, DSCR may be falling a little short (maybe 1.10 or 1.15 instead of 1.25), those types of things. A functional business that's likely to repay but a little bit higher risk than say a bank SBA program would touch.
Too risky for a bank but not risky enough to need to be on weekly payments with On Deck.
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03-08-2024, 03:08 PM #2
- Join Date
- Nov 2015
- Location
- Long Beach, CA
- Posts
- 54
We have a product similar to the SBA Bolt but an internal loan program NON SBA called Scored loan that with 675+ credit in business 2yrs and dscr 1.05+ recent filed tax return No Car dealers but Trucking ok.
Tax Liens ok with payment plan in place.
25k-150k
rates: 15.99-17.99 with 3% org fee(How we get paid).
3yr(no prepay penalty) 5yr (Prepay penalty) I would consider a step below but not too bad for the customer. Unfortunately doesnt pay much(0.50-.75) I consider it a boutique option for those clients you've funded before or you know they just need a quick loan or dont have revenue for an MCA.
150k-500k Similar requirements difference is they will review the last 3yrs biz and personal tax returns versus the most recent filed.
Lendistrypartners.com
Al Williams III
VP Business Dev Officer
O: 213.582.8215
albert.williams@lendistry.com
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03-08-2024, 04:06 PM #3
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