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05-11-2015, 01:05 PM #1
- Join Date
- Oct 2012
- Posts
- 142
Question
I have a Dunkin' Donuts client that would like to try and re-finance (2) existing advances that he needed to take because the Dunkin' Donuts corporate office requires a remodel every few years. The balances are below.
CAN Capital-$150,000
Direct-$50,000
The client currently has an SBA Loan, originally for $500,000, paid down to about $200,000. However, additional funds could not be provided to bring the amount back to $500,000. Have already told the client that this could be tough, if not impossible because of the balances, even though his credit score is about 710. Yearly gross is about $925K.
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05-11-2015, 01:28 PM #2
- Join Date
- Apr 2015
- Posts
- 188
Does he own the property of the business?
Shoot me and email and lets talk nathaniel@instafundllc.com
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05-11-2015, 04:41 PM #3
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
Question
he can do a 2nd SBA loan. under 7a it allows up to $7mm in total financing. it would require the daily debits to be paid off.
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05-12-2015, 08:07 AM #4
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Question
what's the total they're looking for?
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05-12-2015, 12:21 PM #5
- Join Date
- Oct 2012
- Posts
- 142
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05-12-2015, 12:19 PM #6
- Join Date
- Aug 2014
- Posts
- 65
Does the client have 401k, real estate, precious gems, etc.? He has to collateralize the debt somehow.
Lorraine
765-506-8048
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