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01-14-2016, 11:20 AM #1
Reputation points: 30
- Join Date
- Nov 2014
- Location
- Fort Lauderdale, FL
- Posts
- 66
Request of $300K or 490K including consolidation
For direct lenders only:
I have a wholesaler in need of $300K or 490K including the consolidation of their current two loans totaling $189K. Ideally, they would like to consolidate the loans into one. Also they are willing to pay off the first position with their own funds if they obtain a conditional approval.
This deal does not meet SBA guidelines or conventional loans because they have shown losses in the past 3 years, plus the credit of the borrower is not the best.
The numbers are as follows:
As per P & L 2015: Annual Sales of $5MM
Net Income: -$225K
Average monthly deposits: $467k
Average Daily Balance: $120k
Let me know if you can help or PM.
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