[MissouriBroker1]

I have a client needing $400,000 to finish completing a nightclub in downtown Orlando. He currently owns two other bars/nightclubs as well. Bank statements show $100,000+ monthly income. He has an SBA loan in place that will provide him with $500,000 working capital 90 days after the nightclub opens. However, he would like to have a 12 month term just as a safety net. This MUST be monthly payments and under 18% interest. 780 FICO score.

Tom Harrier
Integrity Commercial Loans, LLC
407-928-8542
[email protected]

[MJames]

There is no funder/lender out there with an LOC that will give that dollar amount and/or those rates. Idea can get up to 250k, and maybe get close to those rates. Ondeck you are looking at 50% APR. Plexe would be 20% plus.

If you find something for this please post I am curious if there are any places out there that would do this

[Bcooper]

I have a client needing $400,000 to finish completing a nightclub in downtown Orlando. He currently owns two other bars/nightclubs as well. Bank statements show $100,000+ monthly income. He has an SBA loan in place that will provide him with $500,000 working capital 90 days after the nightclub opens. However, he would like to have a 12 month term just as a safety net. This MUST be monthly payments and under 18% interest. 780 FICO score.

Tom Harrier
Integrity Commercial Loans, LLC
407-928-8542
[email protected]

if he has a personal home, we have a Heloc program 85% CLTV, up to third position on the property. It takes 5 days to fund, 7-13% Apr avg, max revolver term of 30 years, and funding amounts from 50k to 750k.

[Ehenek]

Tom, Why not do a Rehab Real Estate Financial instrument? He also wants runway, and I would look into a working capital solution to allow for such.