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06-27-2024, 10:29 AM #1Noob
Reputation points: 10
- Join Date
- Apr 2024
- Posts
- 3
Merchant only need's it if it's gonna be better then what he's paying now which is10%
The merchant has received an offer from his bank but still wants to explore if he can find something better. CS is 730-750 and the rev is $60,000. Looking amount - 80K-100K term 12-24 less than 10%, Is it possible?
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06-27-2024, 10:34 AM #2Senior Member
Reputation points: 73140
- Join Date
- Sep 2021
- Location
- Irvine, CA
- Posts
- 2,286
The magic lamp broke yesterday. My bank (US Bank) and American Express are offering 6% business loans but I have good credit. Some of their credit card companies may have business loans available as promotions. SBA 504 in the 6% range.
Last edited by Olderguy; 06-27-2024 at 11:41 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.
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06-27-2024, 11:58 AM #3Noob
Reputation points: 10
- Join Date
- Apr 2024
- Posts
- 3
Recently merchant tried for an SBA and was declined
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06-27-2024, 12:11 PM #4Senior Member
Reputation points: 73140
- Join Date
- Sep 2021
- Location
- Irvine, CA
- Posts
- 2,286
He has unrealistic expectations....take the 10%
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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06-27-2024, 02:02 PM #5Senior Member
Reputation points: 84417
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,952
If this is accurate ( CS is 730-750) the amount requested may have been to low for a SBA&(a).
Originally Posted by Peter Parker
If the file is crystal clean, take a look at Credit Bench - BayFirst National Bank in St. Pete, Florida.
They had a product they called Bolt Express - up to $150K -
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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