[Lender Of Gold]

Used auto sales, credit low-mid 600s, 9 years in business. No advances out.

Showed massive growth from 14 million gross in 2013 to 26 million gross in 2014. 3 million / month gross currently, banks are healthy with no NSFs, no BKs, liens, etc.

Assets: Two homes valued at $180K, has a ~30,000 remaining on one and paid in full the other. Also owns warehouse free and clear at $250K, and a vacation home in Poconos at $130K. Paying mortgage on business location 9300/mo.

He had turned down an approval at .26-.37 at 10 months, 200k back in October due to rate and amount being low, and is extremely rate sensitive. But very open to any structure as long as rate is looow and MCA may not be the best fit but other programs can that can offer much more at a longer term.

What longer term or higher amount lenders would take a crack at this? I already know of guys like FundingCircle but what other options exist?

[Triton]

Try kalamta the minimum they do is $50k and have great rates. WBL will gladly take it because of the collateral but is super expensive so may not be the best fit. BFS is also another potential avenue. They max at $2mil.

[Everest]

Sent you a private message.

[pmoney]

WBL will gladly take it because of the collateral but is super expensive so may not be the best fit.

We most certainly would, the real estate looks good. But as you said it's going to be expensive and if the borrower is rate sensitive it may not be the best fit. Only upside is that we'd be able to fund significantly more than the $200,000 offer they received. Regardless, should be a great way to end/start the year with whoever funds it.

[RichardGerard]

How much inventory? How much is owed to Floor Plan Company?

[Lender Of Gold]

How much inventory? How much is owed to Floor Plan Company?

Sent you a PM with the information. I appreciate the input from the WBL guys as well but the product is still too expensive even with bigger amounts he can get.

[blKC]

Try kalamta the minimum they do is $50k and have great rates. WBL will gladly take it because of the collateral but is super expensive so may not be the best fit. BFS is also another potential avenue. They max at $2mil.

Thanks Triton, I appreciate the shout out. Unfortunately, this is a prohibited industry for us.

Best of luck on the file Lender of Gold.

[brokerCompany]

Do they finance any of their own cars, if they hold car notes there are a few investors that will lend against it. PM for more info

[FUNd]

With all the revenue, how come he can't pay his bills on time? He has no footing to be rate sensitive with a low 600 FICO. None.

[ava712]

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[ava712]

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