[CREDITEXPRESSDIRECTSF]

I have a merchant from California.

They are wedding catering business doing 500,000k annually on average. They have 2 SBA loans and that total 130k.

They are looking for an additional 25k to cover operating expenses. On average they have 6-8 deposits monthly.

Credit Score is 800+. Both of their SBA loans are through their Credit Union which they have been with for 25 years.

Any help or ideas here?

[omegafund]

loanme
Funding circle , deal struck

[Triton]

fundation

[HGB]

I would be happy to take a look. We are a direct funder and willing to go outside the box

holley@capassist.com
913-324-5918

[RichardGerard]

Of the regular term loan lenders named only FC will subordinate (Fundation says they will but rarely if ever do). 500k annually is only 42k per month. Unless their profit margin is over the top (more than 50%) it will be difficult to arrange more debt for this file IMO

[LoanMe]

I have a merchant from California.

They are wedding catering business doing 500,000k annually on average. They have 2 SBA loans and that total 130k.

They are looking for an additional 25k to cover operating expenses. On average they have 6-8 deposits monthly.

Credit Score is 800+. Both of their SBA loans are through their Credit Union which they have been with for 25 years.

Any help or ideas here?

Keith, this would be a good file for us here at LoanMe. In CA we can go up to 3x the gross business income deposits on the bank statements. All other states we can go up to 2x. We'll take a look at the last 3months business bank statements. With the information you provided above, I believe we should be able to get them the $25k they need in as soon as the same day.

In all reality they could qualify for more. If so, would they be able to use the additional funds?

[RichardGerard]

Doesn't 42 x 3 = $126k?

[LoanMe]

Doesn't 42 x 3 = $126k?

Yes.

[bdshaw]

Only in the accounts receivable department.
Bob