2nd Position Construction 200k
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  1. #1
    Senior Member Reputation points: 43599 brokerCompany's Avatar
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    Thanks we have explored those other options we just need a 2nd position for this merchant. He has 740 credit and does not want anything tied under his personal name.

  2. #2
    Senior Member Reputation points: 73139 Olderguy's Avatar
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    Quote Originally Posted by brokerCompany View Post
    Thanks we have explored those other options we just need a 2nd position for this merchant. He has 740 credit and does not want anything tied under his personal name.
    There is a signature loan where the business/assets can be attached.

    A personal guarantee loan, the lender can come after personal assets.

    I think there is some confusion about this. Explain it to your borrower.

    You can do cash do cash out equipment as a signature loan and not a personal guarantee.
    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.

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