Results 1 to 23 of 23
-
01-11-2016, 05:04 PM #1
**NEEDED**: $1 Million Short-Term Working Capital Loan
**THIS IS A SERIOUS INQUIRY** - Please read the entire inquiry before responding. We're not looking to work with brokers.
**THE DEAL** - Seeking a DIRECT LENDER/PRIVATE LENDER for a $1 Million Short-Term Bridge Loan at no more than 6% interest. 40-45 day turnaround.
Assets, Bank Statements, and References are available upon request. We are an open book, but we just need a lender for short term funding for orders that our largest client has put in with our company. We did $12.6 million in revenue in 2015.
Please only serious inquiries. We're not going to give out information to people that are just seeking to put in an application. Respect our time and we will respect yours.
Please respond with information about your company, a website, and how your process works. Thanks Guys!
**THIS IS A SERIOUS INQUIRY** - Please read the entire inquiry before responding. We're not looking to work with brokers.Last edited by Central Banker; 01-11-2016 at 05:35 PM.
-
01-11-2016, 05:29 PM #2
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 733
6% try a bank.
If you have serious profitable cash flow with collateral you can expect 7-11% from a private institution.
PO financing or bridge loan may be a fit
contact me for more info.
bzuniga@omegafund.com
-
01-11-2016, 05:38 PM #3
-
01-11-2016, 05:44 PM #4
- Join Date
- Jul 2014
- Posts
- 1,746
Fully secured by real estate or easily liquidatable equipment, maybe 10-15%. I don't know who would let a million bucks go unsecured to make $60K. No matter how short the term is, once the money leaves your account, it's at risk.
-
01-11-2016, 05:45 PM #5
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 733
You cannot take anything above 6% bridge loan? Your margins must be real slim to nothing.
good luck
-
01-11-2016, 05:49 PM #6
-
01-11-2016, 05:49 PM #7
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
I have to ask: why would a lender put $1,000,000 out there for 40-45 days for 1/2 of 1 percent? While I understand anything higher than 6% doesn't work for you, why would a lender put that much capital out there for a $7500 return? After you factor in the time and effort to devote to due diligence, what is the NET return to the Lender? The best deals are one that benefit all involved.
-
01-11-2016, 05:51 PM #8
-
01-11-2016, 05:52 PM #9
-
01-11-2016, 05:55 PM #10
- Join Date
- Jul 2014
- Posts
- 1,746
-
01-11-2016, 05:58 PM #11
-
01-11-2016, 06:12 PM #12
-
01-11-2016, 06:17 PM #13
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
**NEEDED**: $1 Million Short-Term Working Capital Loan
Industry?
-
01-11-2016, 06:27 PM #14
-
01-11-2016, 06:32 PM #15
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
**NEEDED**: $1 Million Short-Term Working Capital Loan
PO finance & Factoring at 1.75/30 so you're looking at 2.625% all in for 45 days. Less than the 5% you're looking for
-
01-11-2016, 06:42 PM #16
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 733
You should have been more specific.: "at no more than 6% interest" You made it sound like you wanted 6% interest rate on 1M loan. 6% return of funds on investment is something different or no more than total 60k total rate and fees. 60,000 total costs and cheaper may be doable with invoice factoring or PO financing,but sounds like you are not a player for that. IT /mobile.
Do you deal with government entities or larger Fortune 100 or 500 companies?
Also is your equipment for collateral phones/IT/computer stuff? Not many lenders will be interested in that.
If you have real collateral such as commercial AR and real estate with equity this is doableLast edited by omegafund; 01-11-2016 at 06:45 PM.
-
01-11-2016, 06:59 PM #17
-
01-11-2016, 07:05 PM #18
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Forgive me.. 60k for 45 days makes a lot more sense.. Now what doesn't make sense is believing that a Commercial Real Estate BANK will be trolling here looking for loans. You best bet is a Broker or a Private Investor. Once someone verifies the information that you have and does a Title Report on the collateral you might be able to turn this around in 14 days...
-
01-11-2016, 07:30 PM #19
Not exactly looking for a commercial real estate bank.
Private Investor Funding is definitely most preferable. If you guys know any Private Investors that are legitimately open to this sort of deal, Please DM Me.
Would definitely appreciate a point in the right direct in terms of Private Investors.
Last edited by Central Banker; 01-11-2016 at 07:32 PM.
-
01-11-2016, 07:39 PM #20
- Join Date
- Jul 2014
- Posts
- 1,746
**NEEDED**: $1 Million Short-Term Working Capital Loan
Where's the hair on this one? There's a big patch of it somewhere, I guarantee it.
-
01-12-2016, 11:30 PM #21
Provide me commercial real estate to cross appraised around 1.7M and I'll do 1M 7 Mo I/O 14% & 6pts with ppp - this is a site for alternative lending , if your looking for 6% go to a bank.... I know why you can't but I'll spare the details..
And if you can find someone willing to lend 1M for 45 days at 6% please let me know .. I will Save ours, borrow his and make 6pts on top.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
-
01-14-2016, 02:08 PM #22
-
01-14-2016, 02:58 PM #23
- Join Date
- Jul 2014
- Posts
- 1,746
**NEEDED**: $1 Million Short-Term Working Capital Loan
Sure you did.
Similar Threads
-
115 Merchant Cash / Short Term Working Capital Secured Parties and Counting
By YuliyaG in forum PromotionsReplies: 14Last Post: 10-01-2015, 11:42 AM -
Short Term Loan
By wally in forum Business LoansReplies: 6Last Post: 08-05-2015, 12:04 PM -
Aviation Compan looking for Short Term Loan
By Avell Group Consultants in forum Deal BinReplies: 5Last Post: 04-20-2015, 11:29 PM -
Short term loan with Palm National
By azizimohammed in forum PromotionsReplies: 0Last Post: 11-24-2014, 03:55 PM -
Merchant Cash and Capital Receives $75 Million Term Loan from Investment Consortium
By CO1 in forum Merchant Cash AdvanceReplies: 6Last Post: 03-18-2014, 09:03 AM