[Michael Thomas]

Liqour store

needs 180k

does 70k+ a month 50k avg cc's

been in business 33 yrs

credit score 514

give me options guys

use of funds

remodel
marketing
expansion

[pmoney]

Liqour store

needs 180k

does 70k+ a month 50k avg cc's

been in business 33 yrs

credit score 514

give me options guys

use of funds

remodel
marketing
expansion

This is a perfect deal for us if they have real estate to pledge. No credit score requirements. If they absolutely need $180k then our Business Line of Credit would be an ideal fit. If you'd like to speak more about the scenario contact me directly at 201-210-8552 or paul@oracleloans.com and we'll weigh out some options.

[Michael Thomas]

does not own the real estate

[pmoney]

does not own the real estate

Well if they know anyone who's willing to pledge real estate (commercial, residential, land) we'd allow it since it doesn't necessarily need to be theirs. In the event it's feasible definitely get in touch. If not, hopefully someone else can chime in and point you in the right direction.

[Everest]

Sent you a PM.

[Chambo]

Liqour store

needs 180k

does 70k+ a month 50k avg cc's

been in business 33 yrs

credit score 514

give me options guys

use of funds

remodel
marketing
expansion

514 credit, does $70K a month.....and wants $180K? Am I reading this right?

[Chambo]

How does the merchant propose to pay that back? Over 5 years?

[Michael Thomas]

he was saddled with debt from his dads closed construction company which he just finished paying off

its a good stable business...

his wife has a 150k a yr salary which would be used to pay down as well as the business

[jjones_wbl]

this would be a perfect deal for WBL... as long as he has some type of real estate. ... jjones@wbl.com

[FUNd]

he was saddled with debt from his dads closed construction company which he just finished paying off

its a good stable business...

his wife has a 150k a yr salary which would be used to pay down as well as the business

Is a real estate collateralized loan really considered a cash advance these days? I mean, just sounds like a loan. Period.

[wally]

Is a real estate collateralized loan really considered a cash advance these days? I mean, just sounds like a loan. Period.

I agree 100%. Isn't that illegal. Usury? If it walks like a duck.

[Sean Cash]

Is a real estate collateralized loan really considered a cash advance these days? I mean, just sounds like a loan. Period.

Considering WBL only does loans and not cash advances, I'd say their loans were considered loans. They are not a cash advance company. They are a lender. A lot of companies on this site and in this industry do true loans.

[Sean Cash]

I agree 100%. Isn't that illegal. Usury? If it walks like a duck.

Collateralized lending isn't illegal and lending in itself isn't usury. It's my understanding that WBL does the state-by-state model, meaning they comply with each state's lending and usury laws.

[JoeLepkoski]

Considering WBL only does loans and not cash advances, I'd say their loans were considered loans. They are not a cash advance company. They are a lender. A lot of companies on this site and in this industry do true loans.

The wise man has spoken.

[#1closer]

wow?

[JoeLepkoski]

this would be a perfect deal for WBL... as long as he has some type of real estate. ... jjones@wbl.com

This question was already asked above by another WBL rep, and was also answered, does NOT own the real estate.