CONSTRUCTION: Looking for LOC or Term Loan 700+ FICOs
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  1. #1

    CONSTRUCTION: Looking for LOC or Term Loan 700+ FICOs

    Merchant is looking for 150K + term loan or LOC

    Has existing MCA with Lendr with 78K remaining. WILL NOT EVEN CONSIDER ANOTHER MCA

    200K+ Monthly revenue. No NSF's and good ADB's

    4 years time in business

    Does anyone have a LENDER in mind that might be willing to entertain this?
    Vincent Loforti
    President / Broker
    Sierra Solutions

    vincent@sierrafcm.com
    559-286-0604 EXT 101

    2936 N Fresno Street
    Fresno CA 93703

    Follow Me on Linkedin https://www.linkedin.com/in/vincentloforti/

  2. #2
    Headway

  3. #3
    Senior Member Reputation points: 1755
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    What type of LOC?
    Elon Henek
    HCI - Glen Cove, NY
    Main: 1-516-676-1854
    Cell: 1-516-236-4086

  4. #4
    Senior Member Reputation points: 68639 Olderguy's Avatar
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    Irvine, CA
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    Elon and I have a uncollateralized LOC up to $250,000 and can be stacked....Needs a 700 Fico.

    SmartBiz has a LOC up to $150,000

    I can get a Heloc (Home Equity Line of Credit) for a primary residence up to 85% CLTV. Needs a 650 Fico.
    Last edited by Olderguy; 03-20-2024 at 10:50 PM.
    Steve Benjamin
    Professional Business Loans

    1012 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.

  5. #5
    Funding Circle - up to $250k term loan, 5-7 year term, rates between 11%-22%

  6. #6
    Senior Member Reputation points: 68639 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,161

    You can access Funding Circle through SmartBiz.
    Steve Benjamin
    Professional Business Loans

    1012 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.

  7. #7
    Senior Member Reputation points: 29542
    Join Date
    Jun 2021
    Location
    miami
    Posts
    437

    Quote Originally Posted by vloforti View Post
    Merchant is looking for 150K + term loan or LOC

    Has existing MCA with Lendr with 78K remaining. WILL NOT EVEN CONSIDER ANOTHER MCA

    200K+ Monthly revenue. No NSF's and good ADB's

    4 years time in business

    Does anyone have a LENDER in mind that might be willing to entertain this?
    I'd be interested in helping him get a term loan if financials check out.
    Midwestern Financial Solutions
    CEO
    Office - (954) 694-6402
    email- Info@midwesternfinancialsolutions.com
    MidwesternFinancialSolutions.com
    Where your box ends ours begins.
    https://www.linkedin.com/company/mid...ial-solutions/
    linkedin.com/in/brandon-cooper-426615267

  8. #8
    Senior Member Reputation points: 20465 Fundyman's Avatar
    Join Date
    Dec 2013
    Posts
    713

    Quote Originally Posted by Olderguy View Post
    Elon and I have a uncollateralized LOC up to $250,000 and can be stacked....Needs a 700 Fico.

    SmartBiz has a LOC up to $150,000

    I can get a Heloc (Home Equity Line of Credit) for a primary residence up to 85% CLTV. Needs a 650 Fico.
    Hollllllllllllllllllllup, bro... You can get HELOC 85% CLTV on primary? Is that in any state, business purpose...?? If so, you need to hit me up ASAP...

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