[stat]

client has 695 credit doing about 450k a month, currently has a 250k balance and looking to pay that off and net another 100-150 in cash. He wont take daily payments (currently on weekly payment), and wants a min 3 year term; except funding circle who would entertain this?

[Chambo]

nobody......

1) 3 years
2) balance vs monthly deposits
3) amount of the payoff

[brokerCompany]

If real estate you could possibly find an SBA loan.
ONce the balance is down to 100k try Dealstruck

client has 695 credit doing about 450k a month, currently has a 250k balance and looking to pay that off and net another 100-150 in cash. He wont take daily payments (currently on weekly payment), and wants a min 3 year term; except funding circle who would entertain this?

[bdshaw]

Your client might qualify for one of our interest only loan with terms up to 5 years.
What is their business?
Bob

[RichardGerard]

If the Business is doing $5M per year and is profitable, and has a reasonable COGS, there are too many options to consider to even list here. The Funding Circles of the world (mid prime market) are a small portion of the space that covers deals like this- a small and rigid segment at that. Bob's suggestion is spot on- depending on the business type and asset structure- why wouldn't the client take a revolver- an interest only facility to allow for growth?

If however they are not profitable, there are still many revenue/expansion driven lenders that will be happy to be in first position for a shorter period of time- alleging there is verifiable growth associated with the capital. The data, other than revenue and FICO, will determine where this file needs to be placed.

Rather than only wishing to deal with direct lenders there are several excellent brokers in this forum that can assist ISO's by finding the right credit instruments for clients. All lenders cannot be all things. Knowing which direct lender automatically disqualifies firms based on business type and reported financials is a huge component of what good intermediaries do- allowing their affiliates to focus on what they do. GET MORE CLIENTS.

Since it our experience that even though our ISO's have a client- those clients are still speaking with several other brokers, why not access the right Capital for them? Why not place them swiftly so they don't listen to the other brokers that are whispering to them?

[Zach]

WBL has loan products that go up to 36 months, but for this type of deal we would probably cap out around 15-24.

If he has real estate collateral let us know and we can put together an offer.