[Michael Jagiello BGF]

Hello all! So a client of mine that flips real estate is looking to get about $20k. Has one balance with SFS with about 8k left. He only does a few deposits (3-5) monthly and the last three months he averages $17k. However, his daily ledger consistently sits above $40k and sometimes over $70k. He was looking for $20k which would likely entail buying out his SFS balance. I know real estate tends to be a tricky industry and SFS only wants to re up $15k to which he'd only be netting a little over 7 grand (ideally he'd want to net 10). Good credit, clean statements. Any help would be much obliged!

[LoanMe]

Michael, because of the 2nd position we'd be in, if the borrower falls into our A,B+or B Term Loan Tier- LoanMe could be a good fit. We work with low deposit/Real Estate files all the time.

[Jstarr]

If he's a flipper maybe he has a property that has some equity and if so we could do something fairly quick.

[northstarmf]

Shoot for Hard Money or Fix and Flip Funding

[nrh1lp]

Fix and flip funding usually starts around 100K lowest I have seen a lender go is 50K, sometimes they will provide additional funding to include materials/labor etc but they still typically top out at 90% LTV (and that is usually only with good credit and a lot of experience) so the merchant has to have a solid down payment. In this case though a bridge loan would not be a great fit unless he was looking for a new funding source for his projects (pm me and I can go over more of those details), and as this sounds like he just wants wc loanme would be a solid option (if they have not seen it already) otherwise you may need to look into term loans