Results 1 to 7 of 7
Hybrid View
-
07-13-2015, 09:35 AM #1
- Join Date
- Apr 2015
- Posts
- 159
A-Paper competitive $100k deal
Hi, we have a client that received an offer from an A-paper lender but he wants us to continue shopping this around for the best deal on the street. Here are the terms:
$100k, 48 month term, 7.29% ($2,901 monthly)
Client is willing to pay a higher rate if they can get more money. Currently doing about $30k revenue/month with very clean personal credit (680ish) and no outstanding business debt.
Think any of you can beat this? Or do you know of any A-Paper lenders that would be competitive? I'm skeptical given how solid this deal is but willing to entertain in order to provide the best service to our client.
Thanks
-
07-13-2015, 09:53 AM #2
- Join Date
- Dec 2014
- Location
- NYC/Florida
- Posts
- 86
That is real good, I don't see you getting much better than that unless they have collateral
-
07-13-2015, 10:14 AM #3
- Join Date
- Apr 2015
- Posts
- 159
My thoughts exactly.
-
07-13-2015, 10:39 AM #4
- Join Date
- Oct 2014
- Posts
- 41
pm sent
-
07-13-2015, 10:59 AM #5
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 732
-
07-13-2015, 01:04 PM #6
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Don't catch the blame for your lender's error or worse
I think your client can do much better.
I calculate the APR for this loan as 17.3% a full 10 points over what he lender is quoting you.
a 7.3% rate would yield $2,408 monthly.
Regardless of what you decide to do you should ask the lender why they are either doing a poor job of calculating or are they just lying to make their deal look good? Of course if your client finds out they will blame you.
Bob Shaw
734.929.3800
rshaw@advancecredit.com
-
07-21-2015, 08:25 PM #7
The lender quoted him a simple interest rate (or an ALR, depending on the transaction). Show him on an amortization calculator how the lender lied to him, and they will lose faith/trust in him while you secure yourself time to shop it.
Shop it to equipment financing companies (I'm assuming this deal is for a specific piece of equipment or vehicle), and pray for a low buy rate... or make your money on an FMV or doc fees.Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
Similar Threads
-
Asset-based Deal - Property Owner seeking $100k
By lendinghand in forum Deal BinReplies: 5Last Post: 06-01-2015, 10:25 AM -
Computer Hardware A paper deal need $500k
By Mhamill in forum Deal BinReplies: 6Last Post: 05-12-2015, 03:51 PM -
auto dealership on the namaa list, A paper work 100k
By Nick Stone in forum Deal BinReplies: 3Last Post: 03-13-2015, 01:09 PM -
Construction Deal - $100k - High NSF's - Needs a HOME!
By Steven_O in forum Deal BinReplies: 9Last Post: 01-23-2015, 12:56 PM -
Looking for a 2nd position lender with competitive buy rates
By Cshoke in forum Merchant Cash AdvanceReplies: 5Last Post: 11-19-2014, 04:20 PM