Results 1 to 11 of 11
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12-22-2015, 02:52 PM #1
- Join Date
- Mar 2015
- Posts
- 78
3M/mo gross + assets, low 600s FICO. Best longer term/bigger amount lenders?
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?Last edited by Lender Of Gold; 12-22-2015 at 03:09 PM.
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12-22-2015, 09:57 PM #2
- Join Date
- Apr 2015
- Posts
- 297
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.
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12-22-2015, 11:35 PM #3
- Join Date
- Oct 2015
- Location
- CA
- Posts
- 63
Sent you a private message.
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12-23-2015, 11:19 AM #4
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.
Paul Marzolla
CEO @ GreenBridge Loans
______________________________________________
Main: (800) 677-5771
Email: paul@greenbridgeloans.com
Connect with me on LinkedIn
Click to download our Partner Agreement
______________________________________________
GreenBridge Loans
221 River St, 9th Fl
Hoboken, NJ 07030
www.greenbridgeloans.com
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12-23-2015, 02:47 PM #5
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
How much inventory? How much is owed to Floor Plan Company?
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12-23-2015, 02:53 PM #6
- Join Date
- Mar 2015
- Posts
- 78
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12-23-2015, 03:12 PM #7
- Join Date
- Jun 2014
- Posts
- 59
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12-23-2015, 04:09 PM #8
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
Last edited by brokerCompany; 12-23-2015 at 04:27 PM.
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12-23-2015, 04:24 PM #9
- Join Date
- Jul 2014
- Posts
- 1,746
3M/mo gross + assets, low 600s FICO. Best longer term/bigger amount lenders?
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.
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04-14-2018, 04:35 PM #10
- Join Date
- Feb 2014
- Posts
- 79
To $10,000,000
5 Year Fixed Term Loan, 6.50%-6.99%, 30 YR Amortization, with Assets
We Do These Type Loans Everyday! Contact: info@ fundswired.com or call 877-600-FUND(3863)
FundsWired-Providing Capital To Businesses Since 2000
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04-14-2018, 04:37 PM #11
- Join Date
- Feb 2014
- Posts
- 79
Up to $20,000,000 Hard Money Term Loans 12-14%, with Assets
Call 877-600-FUND(3863) or contact me: info@Fundswired.com
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