Results 1 to 10 of 10
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09-09-2015, 12:58 PM #1
- Join Date
- Jun 2015
- Posts
- 10
WBL only takes real estate now?
what other lenders out there do collateral deals including vehicles and equipment?
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09-09-2015, 01:00 PM #2
- Join Date
- Sep 2014
- Posts
- 720
Plegecap, but it is glorified pawn shop. They hold assets in their facility, charge interest only payments, and return the collateral once they've paid back the amount borrowed.
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09-09-2015, 01:53 PM #3
- Join Date
- May 2015
- Location
- Long Island
- Posts
- 247
I don't think you are receiving accurate info. WBL is definitely still lending against vehicles. I know they shy away from utilizing equipment however.
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09-09-2015, 02:04 PM #4
- Join Date
- May 2015
- Location
- NC
- Posts
- 208
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09-09-2015, 03:39 PM #5
I just got off the phone w/ a rep on Friday, who seemed to say they only do collateral now, but didn't specify only RE deals... At least she explained the interest-only part to me correctly!
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09-09-2015, 04:17 PM #6
- Join Date
- Nov 2014
- Posts
- 8
Email from WBL today: The company is abandoning all equipment and vehicular collateralized loans.
We will only use Real Estate as collateral for our business loans.
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09-09-2015, 04:18 PM #7
- Join Date
- Jun 2015
- Posts
- 7
WBL only takes real estate now?
loanmart does business loans against vehicles but they don't do all states. I have been doing alot of hard money deals against real estate recently.
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09-09-2015, 06:10 PM #8
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09-14-2015, 01:56 PM #9
To provide some certainty, WBL is currently only reviewing files with real estate as collateral. If these guidelines changes I am sure we will let you know but to save you and your WBL rep time please only submit RE backed files. Thank you.
Regards,
Matthew A. Stucchio
Associate
World Business Lenders, LLC
120 W. 45th St.
5th & 29th Floor
New York, NY 10036
Main: (212) 293-8200
Direct: (212) 220-6018
Fax: (646) 417-7161
Email: Mstucchio@wbl.com
www.WBL.com
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09-15-2015, 02:53 AM #10
- Join Date
- Jun 2014
- Location
- Houston Tx
- Posts
- 97
I have a post in the deal bin for persons/companies looking for cash out refinancing on SFR and Commercial properties above 75K. If anyone is ever interested.
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