$3M-$5M Line of Credit Needed for Auto Finance Company

**NickHubbard** · 03-13-2016, 08:14 AM

Hey All

I have a client that's looking for a $3M to $5M line of credit for working capital. They need it because their monthly sales are growing substantially and they need to pay for newly originated contacts more rapidly than they can draw under their structure finance deal with a hedge fund. The company numbers are below:

-$12M in assets
-$596K in average monthly revenue
-$101K in average monthly credit card sales
-$1.1M average daily bank balance

Are their any Direct Lenders who can get this done and quickly? Please comment below or PM me. No Brokers!

**bdshaw** · 03-13-2016, 11:27 AM

Are the loans written to low credit borrowers.
If so they may be good with an all. I would need more information before telling you it works.

**bdshaw** · 03-13-2016, 11:30 AM

Sorry I did not answer your question.
The only direct lender I know of for who could write this deal directly is Kevin Henry. Why not give him a call?

**NickHubbard** · 03-13-2016, 11:50 AM

Originally Posted by bdshaw

Sorry I did not answer your question.
The only direct lender I know of for who could write this deal directly is Kevin Henry. Why not give him a call?

Hey Bob

I sent him a email. Was gonna wait till Monday morning to give him a call, but did reach out to him.

**bdshaw** · 03-13-2016, 12:13 PM

Please let me know if he doesn't work out

**NickHubbard** · 03-13-2016, 12:46 PM

Originally Posted by bdshaw

Please let me know if he doesn't work out

Will do!

**bdshaw** · 03-14-2016, 07:16 AM

I've been thinking of this deal because I had a similar deal about a year ago.
We took a different fact. We brought in a tranche of subordinated debt causing their bank to increase their line of credit. We also had a bank standing by if the existing bank failed to provide the increase.
You're looking at a complicated busuness that often get it's primary financing from captive financi,g provided by the auto manufacturers.
Bob

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