Commercial cash out
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  1. #1

    Commercial cash out

    Client owes about 200k on a commercial property valued at 800k (just did an appraisal). Trying to cash out and clear out his advance balances of about 200k. Merchant does $3 million (pool and spa supply) and has a 670 credit score.

    My issue here is the client owns 51% of the business, and the other owner is not involved. Otherwise the file is pretty clean.

    Much appreciation to anyone who can send me in the right direction.

  2. #2
    Give me a call at 212 293 8210 to discuss

    Regards,

    Chris Pepe
    Vice President
    World Business Lenders

  3. #3
    Senior Member Reputation points: 14
    Join Date
    Apr 2015
    Posts
    188

    Quote Originally Posted by patrick.bruscia View Post
    Client owes about 200k on a commercial property valued at 800k (just did an appraisal). Trying to cash out and clear out his advance balances of about 200k. Merchant does $3 million (pool and spa supply) and has a 670 credit score.

    My issue here is the client owns 51% of the business, and the other owner is not involved. Otherwise the file is pretty clean.

    Much appreciation to anyone who can send me in the right direction.
    Hi
    I can get you an answer within 24 hours. shoot me an email and talk. nathaniel@instafundllc.com

  4. #4
    Member Reputation points: 54
    Join Date
    Jun 2015
    Location
    Orange County, CA
    Posts
    21

    Definitely a deal for WBL... Send to Chris!

  5. #5
    We can help.
    Feel free to PM me directly.
    Founder ACA Academy - Educating Sales Professionals to Succeed in the Alternative Lending Industry

    Author of Forthcoming Book - "The Lil' Black Book"

    klamere@acafundingusa.com
    (608)312-3685


    To see Keith's LinkedIn Profile Click Here ------->https://www.linkedin.com/profile/vie...ve_tab_profile

  6. #6
    not looking to run with WBL on this one. thanks for the suggestions everyone

  7. #7
    Senior Member Reputation points: 16709
    Join Date
    Jul 2014
    Location
    Jackson Hole Wy
    Posts
    730

    Depends on location we can help with private money or hard money.
    12-18% 10 year terms no PPP lien on real estate.
    info@omegafund.com


    QUOTE=patrick.bruscia;24595]not looking to run with WBL on this one. thanks for the suggestions everyone[/QUOTE]

  8. #8
    Senior Member Reputation points: 68233
    Join Date
    Dec 2014
    Location
    Quogue, NY
    Posts
    1,108

    We are a Licensed Mortgage Broker that can definitely help.. With a loan- not an MCA

    Richard 516 510 3855

    www.businesscapitalconsultants.com

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