[nateteabs]

Restaurant doing 250k consistently. Has 1 loan out with business backer with around 200k left. They are looking for 150k min. of 10 month. Any ideas??

[golf2014]

Not going to happen...that's that.

[#1closer]

never gonna happen dead deal ...and like golf2014 said thats that...

[Michael I]

wow you guys need to broaden your lenders .there is at least 4 that can do that

[nateteabs]

Which ones would be able to do it?

[Michael Jagiello BGF]

I don't think quarterspot will do 150k if he owes out 200 but they could definitely entertain a 12 month term at a 2nd

[Funder Mark]

wow you guys need to broaden your lenders .there is at least 4 that can do that

Who would you recommend on a deal like this?

[Michael I]

zach likes giving out all that info at of the goodness of his heart .
bgf is right quarterspot is one and i did a 150k second with them that had a 500k balance

[Zach]

Since he already has a balance with BB, they're out. They do longer-term seconds with good pricing.

IOU Central does 12-month 2nd's around 1.25-1.33.

Quarterspot as well, although their pricing is based on an algorithm so I've seen it vary from 1.25 to 1.50.

After asking my sales floor, I believe Windset does 2nd's on a case-by-case. We aren't 100% sure on this one, so double check with your rep.

LoanMe does 10-year seconds with a monthly payment.

WBL does 12 month 2nd's as low as 1.33 (buy rate). We can also extend much longer terms than 12 months.

[Zach]

Restaurant doing 250k consistently. Has 1 loan out with business backer with around 200k left. They are looking for 150k min. of 10 month. Any ideas??

However, for this particular deal, no one except WBL will give him that much money ($150K). His revenue simply isn't high enough for other funders.

[Chambo]

wow you guys need to broaden your lenders .there is at least 4 that can do that

You need to cut it out. Started your NYE celebrating early.

TBB has $200K balance on the guy and merchant (well, the rep) is demanding additional 150K over 10 months?

[iso@wallfunding]

You need to cut it out. Started your NYE celebrating early.

TBB has $200K balance on the guy and merchant (well, the rep) is demanding additional 150K over 10 months?

I was wondering when someone would bring that up.

[Stiina]

I might be able to help you! Give me a call.

Stiina Luedtke
StockTrade, LLC
5752 Oberlin Drive Suite 107
San Diego, CA 92121
sluedtke@stocktradellc.com
858-240-2533

[Zach]

Anything ever happen with this?

[IKorie]

This deal is far from done, I could easily get 100k for them. \

[anonymous]

iou / qs uw models are based more on cash flow/% of rev. allocated to pmts than amount of outstanding debt in my experience. wouldn't be surprised to see $100K+ from them on this deal if his BB payments are at a reasonable level depending on how they score out. quite possibly even $150K. iou would likely be more conservative on amount though as they have more aggressive safe guards in place for this scenario (have to look up actual formula). not a deal deal. not even close. iou/qs doesn't do it, higher risk lenders will, 8 month term though. close it!

[AlexSMF]

Restaurant doing 250k consistently. Has 1 loan out with business backer with around 200k left. They are looking for 150k min. of 10 month. Any ideas??

If they have decent credit then you can get him a 3yr term loan or a line of credit. Buy out the 1st position in the process