2nd position $100K for construction co in CA (or 3rd for $75K with 6 mo term)
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  1. #1
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    2nd position $100K for construction co in CA (or 3rd for $75K with 6 mo term)

    (Direct lender only please)
    This merchant is in need of capital for some projects he has been awarded. This is a residential construction and renovation company in Northern CA. Has been in business for the last 6 years.

    Has two loans…owes Strategic $83K and IOU $30K. He pays $907/day and has about 5 months left with Strategic. Pays IOU $409, and has 4 months left. He’s been generating $400K/mo.

    I have attached most everything you should need… please let me know if you need anything else.

    If you can offer $100K and payoff IOU, this would net him $70K, which is what he needs.

    Banks are well managed.. no NSF/Neg days.

    Credit is 580.
    Last edited by SBF; 03-09-2016 at 03:48 PM.

  2. #2
    Quote Originally Posted by SBF View Post
    (Direct lender only please)
    This merchant is in need of capital for some projects he has been awarded. This is a residential construction and renovation company in Northern CA. Has been in business for the last 6 years.

    Has two loans…owes Strategic $83K and IOU $30K. He pays $907/day and has about 5 months left with Strategic. Pays IOU $409, and has 4 months left. He’s been generating $400K/mo.

    I have attached most everything you should need… please let me know if you need anything else.

    If you can offer $100K and payoff IOU, this would net him $70K, which is what he needs.

    Banks are well managed.. no NSF/Neg days.

    Credit is 580.
    Looks like something we can do. Email me or give me a call.

  3. #3
    Senior Member Reputation points: 32658 Zach's Avatar
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    WBL can give him a large 2nd, 3rd, or consolidation loan for a much lower rate than many other second position lenders.

    Based on the cashflow you indicate, we can likely lend up to $800K.

    Feel free to give me a call and reach out.

  4. #4
    Senior Member Reputation points: 13596 isaacdstern's Avatar
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    2nd position $100K for construction co in CA (or 3rd for $75K with 6 mo term)

    Ysc can take a look

    800-955-2411

  5. #5
    Senior Member Reputation points: 7360
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    If the client wants to consolidate the first and second with a cash out, then I would be happy to entertain it. I fund a lot of construction and am a direct lender.

    Best,

    Dan Page
    dan@fundingstrategypartners.com

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